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Franchisee satisfaction puts HVA in spotlight
By Monica Feid
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| Monica Feid | | HomeVestors of America, Inc. has been named to the nation's Franchise 50 list for the 2006 Franchisee Satisfaction Awards by Franchise Business Review, a franchise market research firm. More than 170 franchisees participated in the survey and made it possible for HVA to achieve the ranking. With more than 2,000 franchise concepts in the USA, it's remarkable to be ranked in the top 50!
"The Franchise 50 has quickly become the most exclusive award in franchising," said 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."
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| David Hicks, John Hayes, Jason Killough and Bonnie DePasse (l-r) proudly wear Franchise 50 medals, signifying HVA's award at the 48th annual International Franchise Association convention. | | The Franchise 50 honors franchisors that have the highest level of franchisee satisfaction, a first in the immense landscape of franchise rankings that most often look at corporate-level performance, big-picture growth and feedback from franchisors themselves.
"There is so much misinformation about franchising in the marketplace," Stites said. "We went straight to the experts, the franchise owners themselves, and got their feedback and advice. After surveying thousands of franchisees across North America, we created the Franchise 50 -- a list of companies with the highest levels of franchise owner satisfaction. To be voted among the best of the best by their own franchisees speaks volumes about these franchise companies."
Nearly 250 companies representing 45,000 franchisees competed for the Franchise 50 rankings. HVA came out a winner with the help of 72 percent of the franchise network participating in the survey.
"To be included in the top 50 franchisees in the United States is a considerable accomplishment and we're especially proud of it," said John Hayes, president and CEO of HVA.
Hayes and fellow HVA executives David Hicks, Jason Killough and Bonnie DePasse, accepted the Franchise 50 medals, signifying the company's award at the 48th annual International Franchise Association convention, recently held in Palm Springs, CA.
"We are grateful that 173 of our franchisees took time to respond to more than 40 questions to evaluate our company. It was heartening to see so many of our franchisees give us a five-star rating and we will continue to work hard to deserve this rating," continued Hayes.
Franchisees were invited to score the performance of their franchisor on a five-star rating system, five being the highest score, and one being the lowest. Of HVA's 173 participants, only seven franchisees gave HVA a two-star rating. Everyone else scored HVA higher. Additionally, when the seven franchisees were asked if they would buy the franchise all over again, only two said no.
The complete report of what HVA franchisees shared is available at http://www.franchisebusinessreview.com
"I especially appreciated the opportunity to read the comments of so many franchisees," Hayes said. "It was interesting that even franchisees who were less enthusiastic about our overall rating still said they would probably buy our franchise again. And it was good to see franchisees include their names in their surveys even if they were critical of us. By doing so, they at least give us an opportunity to reach out to them to see if we can help them."
. . . Monica Feid of BizCom Associates handles public relations services for HomeVestors and its franchisees.
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