What are the benefits of Franchise Management Software to boost the market growth
To begin with the franchise industry, it would be wise to say that franchising is a retail trade that usually involves two parties, one is the franchiser and another is the franchisee. Now since the business model involves with two parties, it is natural that there will be complications and issues, which is bound to come up due to the engagement of separate entities cooperating over a business. Honestly, it is literally impossible to manage a large franchise chain without any franchise management software.
Clearly, the idea of franchise software is to balance cross-chain integration and freedom of decisions of the individual franchise development managers, without any hassles or rising conflicts. Also, if you dive deeper into this, you’ll see how a franchise software perfectly fits into franchise business model by acting as a platform facilitating cooperation between franchisers and franchisee units, as well as by increasing involvement between customers.
So, if you are a franchise organization starting new, we would strongly recommend you to start using franchise management software, as it entails all the advantages of a retail management system, along with exciting features to organize your multisite franchise business.
Quickly scan through the smart needs of franchise software
- To easily control and supervise the business under a single platform
- To benefit your franchisees from the improved supply chain, reporting and sales forecast and huge cross-chain customer base.
- To get a real-time view on the completion of franchise training
- Compare the level of performance between franchise groups based on location and time.
Basically, with the right franchise management software, you enjoy all of these benefits. And if the franchise owners wish to grow their business, which may not mean only adding units, but also maximizing market growth of each unit. Then, it is the time to reconsider how you can use the technology to gain actionable insights into your business.
Let’s dive deeper into the benefits of franchise management software in boosting the market growth.
Benefits of Franchise management software
- Optimised inventory and supply chain
A franchise management software allows the franchise owner to have corporate-level inventory visibility. So, you can place the sales order based on the maximum level of inventory and interact directly to the supply chain. Also, the stock replacement tool comes as an added benefit, that helps to track the historical data and latest trends across multiple franchise chain. In a whole, this means that franchise owners will have complete control over the business supply, by being fully aware of what’s going where. So, if they face any blowouts in the upcoming future, they will be able to deal with the scarcity smartly.
- Well organised business software
While you’re starting up a business, your business is likely to require a lot of revision task and adjustments unless you become completely familiar with changing market trends. So, when you get into a franchising business, it’s most likely that you will adopt the model that’s common throughout the units. At this time, using a franchise management software doesn’t just save you from the trouble of setting up a business from the scratch but helps to build a standard business that already has a proven track record.
- Hassle-free inspection of franchise units
Franchise management software is a middle platform, where franchise owners and franchisee meet up and communicate with each other. But you avoid misunderstanding during the inspection of outlets by keeping a track of them in real-time. Most of the franchise software today is Cloud-based, which means they can be easily accessed from any location, any device at any point. Hence, the software will enable head offices to effortlessly monitor units in real-time and point out any areas of concerns as well as determine the management requirement and sales goals to addressing the shortfalls if there is any.
- Amplified sales percentage
Franchise development is not an easy task, and it requires a little bit of art and science to keep your franchise candidates engaged throughout the entire franchise development cycle. This is possible only by using the right technology. It’s becoming hard to sell if you don’t really know who you would sell. Creating a franchise purchasing persona is the key aspect to acquire any franchise sales and marketing plan.
That means by defining exactly the types of a franchise that are successful for your company, you can create a potential approach to when where and how to reach your qualified prospects, thus helping you to determine if you’re spending your money in the right places. In a nutshell, using the right franchise management software you will not be able to attract the qualified leads for your business but you’ll be able to highly improve your efficiency and sales deals. Have quick snapshot on how you can make your sales grow:
- Improving your efficiency through tracking, reporting with dynamic dashboard and analytics
- Streamlining the technical distribution of FDD
- Aligning sales and marketing through a uniformed platform
- Lowering the cost for each prospect through an enhanced sales process and pre-qualification tracking
Augmented marketing tools
While selling high-end products such as luxury products, or other franchise goods, augmented reality provides businesses with the chance to demonstrate the value of their products to consumers that are hesitant to approach. One of the possible game-changers in the franchise sector is the AR, that helps provides franchise customer with immersive customer experience, delivering them with on-demand information about the products. Also, allows franchise owners to reach out to customers at the right time and at the right places. Specifically, the synchronised franchise management system allows the franchise owner to administer their core advertisement requirements, rendering more adaptability to manage their business. This, in turn, allows every business owner to have more freedom and flexibility.
So, you see how hard it is to grow your franchise business in the fast-changing environment, but it becomes much easier for you when you have the right software in your tool bucket. Give it a try to see if the franchise software fits in your business need in growing your brand in the market.