First Class Accounts gets first class pass from its franchisees in Satisfaction Survey

First Class Accounts gets first class pass from its franchisees in Satisfaction Survey 

A recent independent survey conducted by The Franchise Relationship Institute (FRI) reported that the franchisees of the First Class Accounts (FCA) bookkeeping franchise system are 2.5 times more likely to promote and grow their brand than are franchisees from the other franchise systems surveyed.

The Franchise Relationship Institute (FRI) had invited franchisees of First Class Accounts to participate in its 2011 “Franchisee Success Study”. FRI’s mission is to help franchisees and franchisors create profitable partnerships and the Franchisee Success Study is one of their initiatives. The FRI study surveyed over sixty franchise systems, including First Class Accounts, yielding a total of over 2000 franchisee responses. This study is aimed at identifying the behaviours and attitudes that contribute to franchisee success, both across and within franchise systems, and at evaluating and benchmarking franchisees’ satisfaction with the system to which they belong. 

First Class Accounts is Australia’s largest bookkeeping services franchise system, established in 2000, has around 150 franchisees operating their own bookkeeping businesses across the country (www.firstclassaccounts.com).

The satisfaction of the First Class Accounts (FCA) franchisees ranked significantly above the franchise sector averages on all the measures surveyed, including:

• General satisfaction (First Class Accounts’ score 72%)

• Satisfaction with the lifestyle their franchise business enabled them to lead (70%)

• The practical support provided by the franchisor and their perception of the degree to which their franchisor genuinely cared for their success (83%)

• Franchisor’s competence and integrity (83%)

Significantly, on the all-important measure of the franchisees’ satisfaction with their own financial performance, First Class Accounts franchisees rated their satisfaction substantially higher than the average reported within the survey sample.

The acid-test of satisfaction and loyalty of a franchise brand is the extent to which franchisees respond that they would recommend and actively promote their brand.

75% of First Class Accounts franchisees surveyed were rated as promoters and their Net Promoter Score was 2.5 times the sector average score.

“The results of this survey, especially the exceptional level of satisfaction, loyalty and enthusiasm encapsulated in the Net Promoter Score, are certainly most rewarding”, acknowledged Clive Barrett and Mike Fisher, directors of First Class Financial Group. “Our franchisees clearly appreciate and recognise our commitment as franchisor to growing brand awareness, to providing a level of service that meets their needs and expectations, and to fostering a culture of mutual respect, peer support, and camaraderie. 

Clive Barrett went on to say: “The on-going national direct response television campaign we are running, with the message “Give us your books and we’ll give you back your life”, has resonated powerfully with our franchisees’ target market of SME’s, and it has enabled us to generate a high volume of leads for our franchisees. We are confident of the continued growth of our network through strong brand recognition and proven franchisee satisfaction”.

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