The franchise management software helps to fill in the gaps that can emerge after a brand is successfully created and established in the market. These spaces could turn into become huge in the future and reduce a franchise into bits and pieces. So, it is advisable to use the software solution to create a synchronized process and collaborate with each domain for maximizing the franchisees’ productivity.
Now, if the owner is not using the right franchise software application, he can take great risks. Some of the risks are:
If you are not implementing Franchise Management software, it will lack a central way of communication and managing the brand. From unsuitable DIY designs, franchisees may lack consistency, and will directly affect the brand experience, which was hard to create. If the specific brand is at the core of your franchise business, you should protect it by incorporating the franchise software solution which includes everyone on the same page with the software application.
Sometimes, issues can get complicated when a franchise is in operation. Now, the best way to keep track of new franchises is to communicate and cooperate with each franchise to render the value it needs. However, if the franchisor is not able to keep a track of what your franchisees are citing, it could result in turning the business filled with misplaced or incorrect information, and ultimately getting negative results. The irony is, the franchisor will not be able to apprehend it until the growth of the franchisees shows a downward trend. Thus, a franchisor should always keep the franchisees well-informed and oversee all interactions with a franchise collaboration tool.
Incorrect and Delayed Payments
With the increasing figure of new franchises, more administrative formalities and accounting tasks will rise, so the franchisor needs to keep a track of these activities. Again, the owner should address the issues of the revenue being leaked from the franchises. So, if the numbers are not tracked properly, revenues could be lost and the linked commissions cannot be collected. This uncertainty can lead a franchisor or franchisee into a tussle, and create a negative impact on the overall business. Thus, selecting a franchise management tool with royalty acquiring features like automatic commission computation should render a great solution.
Erroneous Financial Data
Recording the financial data inappropriately can prove to be detrimental for the franchises. It also has high financial and legal consequences, apart from the time and effort needed to correct the data. So, to control the inaccuracies in the franchise system, the franchisor can standardize the Chart of Accounts and incorporate QuickBooks Online and blend them both into the franchise management software.
Losing Track of Franchisee Sales Leads
Enhancing the franchise business means the continuous alignment of new franchisees into the business through the franchise development activities. For this, the franchisor should introduce marketing campaigns to manage the leads through emails and phone calls. So, if the franchisor is not organized, he can miss the opportunities resulting in loss of partnerships or curtailing on a specific franchisee. Mismanaged and wasted possibilities can deliver a lethal punch on your franchise’s growth. Thus, the franchisor should adopt the franchise management software solution with an integrated Franchise Sales Customer Relationship Management, to help to control the potential leads and call to action requests, thereby monitoring every prospect throughout the entire sales channel.
Delayed Customer Service
The franchisor should regularize the field service franchise to connect with the field service representatives for the urgent and ever-changing needs of the end-users. Now, if the franchisor delays to respond to the customer, the reviews from the customers will come down, questioning the authenticity of the business. Therefore, the franchisor should integrate mobile tools into the franchise management software, so the sales representatives can swiftly acknowledge from any location.
Missed Job Booking Opportunities
Again, if the franchisees are not effectively planning the service delivery network, it might affect the loss of growth prospects and needless traveling time. Thus, the franchisor should use the route planning and mapping tools to offer optimized and correct routes maps to the sales representatives.
The franchisees can also use the software for automating its business operations, and monitor the business productivity, and deliver relevant reports to the franchiser. Thus, the franchise software can aid in connecting with numerous franchisees supported with the cohesive communication systems.