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Years ago the Forum Corporation of Boston conducted research to determine the cause of customer satisfaction – and lack of satisfaction – with various companies. Here are the top three secrets to success for a business service franchise.
1. Customer Service Counts. The findings reveal what every successful service business franchise owner knows: customer satisfaction is crucial. Consider these starting statistics, 15% of customers reported dissatisfaction with the product as the main reason they stopped using a product or service but over 70% stopped due to “bad customer service.”
2. Timing. People must need, want and understand your service. For example, several popular business service franchises are available for those who will list items on ebay for others. iSold It LLC, QuickDrop, Sell Your Stuff and Eyardsale.com each cater to a slightly different need but each recognize the timing of the market; they understand the powerful opportunity for eBay sales among those who are too busy to do it themselves.
3. Understanding your market. Market Research is critical to success for a small service franchise. The ability to comprehend market conditions for your business and that of your clients is an ongoing process throughout the lifetime of the business. It allows the small business franchise owner to adjust to changing market conditions, local situations and other opportunities. Some of the best research related sites on the web for small business franchise information include: entrepreneur.com, hoovers.com, stat-use.gov, www.census.gov