Mortgage broking firm Rams is the latest franchise to score a high performing spot on the Australian Franchise Rating Scale.
And it joins fellow broking business ANZ Mobile Lending on an elite list of 5-star businesses.
So what exactly is the Australian Franchise Rating Scale? It’s a means of judging a franchise on a number of categories. Brands are rated on how transparent the business processes are, and how well the franchise performs.
The rating is based on an independent and fact-based assessment. Franchise business intelligence and information advisory business Frandata Australia oversees this.
Franchisee engagement helped deliver Rams the 5-star rating
Rams managing director Jake Bromwich was thrilled with the 5-star rating.
“As a business we are super proud to have our hard work recognised, highlighted by our very strong franchise engagement and satisfaction levels. This is great recognition for the strong partnership we have with our franchisees and their teams,” he said.
There were high scores for franchisee engagement and satisfaction levels. And strong trading performance across the franchise ensured solid financial outcomes for individual franchisees.
Five brands upgrade with new rating
Frandata lists high performing brands which achieve four, four and a half, or five stars.
The newly introduced ½ star increment recognises brands that have maintained their standards over multiple periods. These brands could receive a higher grade in the foreseeable future.
Frandata recently upgraded five brands to a 4½ star rating.
Darryn McAuliffe runs the Frandata Australia business. The CEO told Inside Franchise Business “Not only have a number of brands maintained their performance levels, but during a challenging external environment many have emerged stronger and able to evidence more “proof points” for supporting their franchisees.”
Newly upgraded brands are Pizza Hut, Chatime, Soul Origin, Muffin Break and Jamaica Blue.
Other brands listed as high performing businesses include hair and beauty businesses and retailers.
The Australian Franchise Rating Scale began in 2019 and rating is open to any franchise in Australia. The Australian Franchise Registry holds the information.