Passion driving success in Australia’s top franchises
If passion motivates growth in business it is alive and well in the franchise industry with the sentiment a key driver behind the success of some of Australia’s best franchise systems as revealed in the 2014 topfranchise.com.au Awards, released today.
Of the top 10 winners, franchisees all rated the passion they, their family and friends had for the business as the area they were most satisfied with. After passion, franchisees were most satisfied with elements related to brand and support from their franchisor.
The awards entry process examines franchisees satisfaction in seven key areas covering support, marketing, passion, lifestyle, brand, opportunities for expansion and financial success.
The finance industry placed number one for the sixth consecutive year with Smartline Personal Mortgage Advisors remaining in the top spot. Ferguson Plarre Bakehouse, who only entered the top 10 for the first time last year, moved two places again thanks to improved ranking in the passion and support categories.
Anytime Fitness and Snooze also moved up the list into third and fifth place, with Mister Minit taking fourth place after all excelling in brand, support and marketing activity rankings.
Ian Krawitz of 10 THOUSAND FEET, the research company behind topfranchise.com.au, said the results were reflective of an overall improved outlook for the franchise industry following a few tough years as a result of the GFC and retail downturn.
“The passion category naturally reflects the care a business owner has for their customers and product or service and whether their passion is reflected back to them by their family, friends and staff,” he said.
“Business owners are always passionate, but they seem to have a new spring in their step which is becoming self-perpetuating.
“Business is perceived to have become a little easier in comparison to last year as business owners gain more confidence in the economy and higher unemployment leading employees to stay put for longer.
“Perception of financial returns is also up, which is an important factor as family and friends see that all the passion and energy a franchisee is putting into their business is reaping greater rewards financially, allowing reduced hours and more energy to put into their personal life.
“When those closest to the business owners are more positive, that feeds back to the franchisees positivity and is buoying their own passion for their business.”
Mr Krawitz said the renewed zest for business also impacted renewals with sentiment continuing to rise following previous years of decline.
“Renewals are one of the key measures of success for any franchisor and while there was a considerable dip between 2010 and 2012 this year’s results continue the steady increase with most of the top 10 experiencing an increase in satisfied franchisees wanting to sign on for another term.”
10 THOUSAND FEET surveyed over 1000 franchisees from 44 different companies asking their views on a range of business success factors including their level of happiness with their work life balance, financial rewards, the level of support they receive from the franchisor, opportunity to expand, if they would renew and if they would recommend the business to someone else. The topfranchise.com.au Awards is in its seventh year.
topfranchise.com.au Awards Top 10
1 Smartline Personal Mortgage Advisers
2 Ferguson Plarre Bakehouses
3 Anytime Fitness
4 Mister Minit
6 Kwik Kopy
7 V.I.P. Home Services
8 Mrs. Fields
9 Snap-on Tools