If you are a franchisor and aiming for the steady growth of your franchise business, your primary strategy will be focused on integrating the best Franchise Management Software with your business operations. But what exactly defines the “best Franchise Management Software”?
Franchise management software can monitor and improve important aspects of your business such as sales, marketing, revenue sharing, CRM, reporting and analytics, branding, inventory management, and much more. It can hire franchisees, generate leads, increase conversions, streamline operations, track and optimize market performance by utilizing real-time dashboards, etc. So, with so many choices in the market to pick from, what should be on your mind before deciding the best franchise solution for your business?
Before you purchase any franchise management software, you have to know whether the features of the software complement your business needs. The best software for you will be the one that is optimized and best suited to your franchise chain goals.
How to pick the best the Franchise Management Software?
Your software should be able to gather insights regarding:
- Workflows and marketing campaigns
- Lead sources and communications
- Sales funnel
So that you can figure out whether:
- Your engagement numbers are decent
- Your leads are being followed up
- Your business goals are met
It still sounds pretty confusing, doesn’t it? Relax. We are here to help you to make the best purchase decision. Let’s see what are the things you need to consider before purchasing a franchise management solution for your business.
Choosing the specific Franchise Management Software
How well established is your franchise chain business? If you are a franchisor who has an extensive, elaborate network of franchise outlets, you probably already have integrated features like CRM, ERP into your business. So, you will need a single collaborative platform that can combine and feed data from all this software installed in your multiple franchisee outlets.
Hence, the best choice for you will be a cloud-based franchise management software that can store all the multiple streams of data into a single place. The integrated cloud technology can optimize your operations in such a manner that they run smoothly and staff management becomes an easy task. But, if you still don’t have such a well-established chain of franchise outlets and don’t need such integration options as such, even an on-premise franchise software would work.
2. Leveraging the mobile platform
What will you do with all the loads of data that your franchise software will provide you with if it isn’t easily accessible? For ease of use, make sure your franchise management software is compatible with standard mobile platforms like Android and iOS and your mobile app has the features already available in the desktop version. This will help your staff across multiple franchise stores to view and enter data through their mobile devices easily, which will make the tracking and monitoring job much easier for you.
3. Workload management ability
Does your franchise software have all the management tools to carry out efficient and quick communication? Doesn’t matter whether you are just a new business in the market with few local franchises or a well-established brand with multiple outlets across the country, you will be gradually expanding more and more, and to handle the increasing workload to support your growth, you need a franchise management software that is well equipped and has all the necessary features that are required in your business. With every progress your franchise makes, you will need software with more multi-faceted abilities. So, it’s better if you opt for software from the beginning that has all the necessary tools to help your business grow.
4. Budget for your franchise management software
Any investment that you make in your business is well-calculated, isn’t it? As simple as that. For the installation of any other software, the primary thing you need to keep in mind is your budget, unless you are flexible about it. Even, for a franchise software, your main aim should be to compare all the features and best prices of different models and subscriptions and choose the one that has the maximum features within your budget range. But it isn’t that easy. You will have to consider various factors, like the long term and short-term profits on installing the software, the subscription plan with the highest benefits, be it monthly or yearly, and how efficiently it can manage your business.
5. Brand consistency for your franchise business
Do you know the formula to drive in more and more customers into your franchise outlets? The answer is branding. A consistent brand image is the face of your franchise business and its success often depends on the strength of the core marketing message. The right franchise management software should consist of all the resources and support to align with this vision so that it can provide a wholesome marketing solution. It should be able to provide all the vital marketing ingredients, accessible in a single location. It should make the process of inspection of franchise outlets easier for the franchisees. With a huge load of information from all the outlets, you can easily track the performance of your outlets as well as point out any setbacks and think of strategies to solve them. It also helps you to keep firm control of the operations and processes.
Make the right decision now
As you start making important decisions for your business, our professionals at BrandWide can help you find the best technologies that are designed to best optimize your business tasks, integrate your workflows, and streamline your processes. All of this will allow you to enhance your business standards while lowering your cost of maintenance.
Don’t procrastinate and take the right step now to level up your franchise business game. Pick up the best solution for your goals and get an edge over your competitors in the market.