Franchisees keen to renew reveals report

More franchisees are likely to renew their franchise agreement now than 12 months ago, according to a quarterly review by topfranchise website.

The rolling study has also shown that franchisees now have higher levels of passion for their customers, brand, and product, reporting an eight percent increase in franchisee passion, as well as a three percent increase in intention to renew franchise agreements beyond the current term.  

Ian Krawitz, head of intelligence at 10 THOUSAND FEET and founder of topfranchise website, said the results prove the strength of Australian franchisees and the franchising industry as a whole.  

“Franchisees are looking around and seeing uncertainty. Franchisees are realising the strengths of the franchise systems that they’re a part of and are even more motivated to renew their agreements and make their business a success despite challenging times,” said Krawitz.  

Cookie franchise Mrs Fields has seen the highest increase in franchisee passion, up by 28 percent, while coffee franchise Xpresso Delight saw the largest increase in the desire of franchisees to renew their current agreement, with a rise of 17 percent.

Incorporating feedback from more than 1,000 franchisees from 65 systems across Australia, topfranchise website is a free resource for potential franchisees and an independent point of reference. 

This article appears courtesy of 5 Minute Franchising Newsletter