10 Reasons to Check Customer Reviews When Considering Restaurant Franchises
Not long ago it seemed that if a customer had a negative experience with restaurant franchises, they would simply tell friends and family to discourage them from going to that location. Today, with so many online review sites, customers now have the opportunity to share their opinions with the world.
Savvy entrepreneurs considering restaurant franchises know that customer reviews tell the true story behind the franchise.
Here are the top 10 reasons why customer reviews matter.
1) Review ratings and revenue are closely related. In a recent study of Washington restaurants’ yelp.com review ratings, it was found that the higher the overall rating, the higher the increase in revenue that restaurant would experience.
2) Online reviews carry more weight. Positive reviews from previous customers, even in a different market can turn browsers into buyers. These reviews carry far more weight than any other forms of marketing communication.
3) Potential customers trust reviews. 61% of people will read online reviews prior to visiting restaurants that are unfamiliar to them.
4) Friends or critics? Consider this—86.9% of people trust their friends’ reviews of restaurants over those written by a critic.
5) Good, Better, Best. Good ratings are great to have, but are they costing you? Customers are willing to pay 99% more for an excellent rating over just a good rating when it comes to the quality of service offered at restaurant franchises.
6) Dreamers or Doers? Customer reviews create 74% increase in product conversion. Ratings could mean the difference in a customer saying they would like to try your restaurant someday, or coming in for lunch today.
7) One time “tryers” or repeat buyers? Franchises with customer reviews have loyalty rates up to 18% higher than those without.
8) Ratings are there for a reason. People tend to trust other customers’ opinions and rely on their experiences as a template for how their own would be. Restaurant franchises that are highly rated will experience an increased likelihood of purchase of up to 55% compared to lower rated franchises.
9) Even negative reviews can be positive. If a customer leaves a negative review that is handled quickly and efficiently, 95% of customers say they will do business with the company again.
10) Knowing what your potential customers are saying about the brand you are considering buying says a lot about the company. With constant social media status updates, and new review sites popping up continuously, it won’t take long to get a good look at how the public feels about your chosen restaurant franchise.
As a strong example, Bruges Waffles and Frites is a hot new fast-casual restaurant franchise entering markets in Colorado, Arizona, Oregon, Idaho, Nevada and Washington. The company is riding high on strong community loyalty and excellent customer reviews that say a lot about the loyalty their specialties create. In a world where ratings mean revenue, Bruges may just be the franchise opportunity you are looking for