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Franchisees rank HVA tops in franchisor relationship
By Jacy Cochran  | | Jacy Cochran | | For the second year in a row, franchisee satisfaction has again landed HVA among the top franchises in the nation. Franchise Business Review's Franchise 50 is the only list that ranks franchises based solely on franchisee feedback. The honor identifies franchisors that have the highest level of franchisee satisfaction among participating companies. More than 300 companies, representing more than 65,000 franchisees, registered for this year's Franchise 50, making it one of the largest surveys of its kind ever completed. Sixty-seven percent of HVA's franchise network provided candid feedback. "The Franchise 50 has quickly become the most exclusive award in franchising," explains Eric Stites, founder and president of Franchise Business Review. "Without a doubt, HomeVestors is putting their franchisees first, and their franchise opportunity ranks among the best of the best in franchising today." "We are honored to be ranked so highly by our franchisees," says Dr. John Hayes, HVA's president and CEO. "We work hard to help our franchisees build satisfying and profitable businesses, but we're also interested in building quality relationships with our franchisees. Our efforts pay off when we see the results of a survey like this one. I'm personally grateful for the ranking . . . but I'm also feeling a little pressure now to do even better next year." The Franchise 50 uses input from franchisees to rank franchisors on their offerings in the following categories: training and support, the franchise system, franchisor relationship, financial opportunity, overall satisfaction, market, and business lifestyle. HVA excelled in the following categories, receiving responses of "good," "very good," or "excellent": - Overall Satisfaction -- 90%
- Initial Training -- 95%
- Ongoing Training and Support -- 91%
- Ability to Compete -- 95%
- Services -- 94%
- Communication Among Fellow Franchisees -- 94%
- Franchisor Knowledge and Support -- 95%
- Accessible and Responsive Staff -- 97%
- System-Wide Communication -- 97%
- Encouraging Honesty and Integrity -- 96%
- Respect for the Organization -- 97%
- Fair Fees -- 95%
- Long-Term Growth Opportunity -- 95%
Anonymously, franchisees had the following praise for HVA: - "Every aspect of real estate investing can be done better with the strength of HomeVestors behind us."
- "HVA has given us the opportunity to go from nonexistent in the market to [being] a major player in a very short time. We are excited about our future with HVA."
- "John Hayes is an excellent CEO, and his expertise in Franchising is world class. The systems he has set up and the standards he enforces are helping HVA stay ahead of the competition we do not have yet. The independent investors are hacks compared to any HVA franchise, anywhere."
- "We have a great deal of respect for the entire staff and the execs at HVA. We have never, in almost seven years of business, ever had a problem that they did not immediately address and help us with. These days, we don't ask for much help because we have followed the system and we rarely need help anymore. HVA is very big on honesty and building our brand. It is our highest priority to have a great reputation in the industry. We, the franchisees, have been told many times by HVA that anything less will not be tolerated, meaning dishonesty, etc. The staff in general seems to have a very good attitude, which goes a long way with me."
HVA came in at number 35 on this year's list, up from last year's ranking of 48. See the full 2007 Franchise 50 report here. . . . Jacy Cochran of BizCom Associates handles public relations services for HomeVestors and its franchisees. She can be reached at 972.490.0903.
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