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1 Franchise in the US?

Are you considering investing in a franchise business in the United States? It is an exciting decision, but one that involves careful research and planning. Choosing the right franchisor is essential to the success of your business, as is the decision of which specific franchise to invest in.

To help you make informed decisions, we reached out to the International Franchise Professionals Group (IFPG). They are a leading franchise broker group with more than 1,300 franchisors, franchise consultants and vendor members, and they provide expertise and advice for aspiring franchisees.

Here is what we learned speaking with the IFPG about the #1 franchise in the US:

What Makes a Franchise System #1?

When considering which franchise to invest in, it is important to consider not just the current market leader but also the historic performance of the entire franchise system. You hear about popular brand names, such as McDonald’s, but their individual franchises may not be a good fit for you.

The IFPG told us that ratings for an individual franchise system indicate the overall success of that franchise’s brand and track record. Based on its research and evaluation, the IFPG believes there are three key metrics that determine which US-based franchise is #1.

Management Depth:

The IFPG evaluates the level of managerial experience and expertise of each franchise system. Since managers typically drive the success of a franchise, IFPG members look at a system’s leadership to determine whether it has the depth of experience necessary to ensure a successful outcome for the franchisee.

Franchisee Satisfaction:

Franchisee satisfaction is the ultimate indicator of any system’s success. The IFPG contacts franchisees to learn about their experiences with the franchise and assesses their level of satisfaction.

Financial Performance:

The IFPG reviews the financial performance of each franchise to identify franchises that have achieved and sustained long-term success.

How is the #1 Franchise Chosen?

The IFPG looks at all of these metrics – depth of management, franchisee satisfaction, and financial performance – before making its determination. It is important to note that these ratings are not meant to favor one franchise over another but to identify the franchise system with the greatest combined strength.

Once the IFPG has identified the strongest franchise system based on its metrics, a vote is taken among its members to select the final system. This final pick is then referred to as the #1 franchise in the US.

What is the Current #1 Franchise in the US?

At the time of this article’s writing, the franchise with the greatest combined strength across all three metrics was The UPS Store, Inc., which is a multi-location, franchise-based business offering a variety of services aimed at making shipping easier and more affordable.

The UPS Store is the brand chosen by the IFPG for its combination of strong management, customer satisfaction, and financial performance. They have grown to join the ranks of other successful franchises like 7-Eleven and McDonald’s who have reigned as the top franchise system in the US in years past.

Advice from a Franchisee

We also spoke with Tom Walter, a franchisee with The UPS Store, Inc., who shared some advice for those who are considering investing in a franchise. He advised people to:

  • Consider their long-term goals and select a franchise that best fits with those goals.
  • Investigate the financial strength and other ratings of the franchise system.
  • Conduct detailed research into the potential locations available to you.
  • Make sure the franchisor provides sufficient marketing and advertising support.

The IFPG also recommends that those considering investing in a franchise speak with one of their experienced franchise consultants or business brokers for advice.

Conclusion: Invest With Confidence

Choosing the right franchise to invest in is an important decision, and one that deserves your time and research. By arming yourself with the right information, consulting with an experienced franchise broker, and considering your long-term goals, you can feel confident in making the right decision for your business.

Topics:

franchising,

franchisee,

franchise broker

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