How to choose the right Franchise Management software for your small business
Franchising today is quite a popular trend of business in the US economy. Despite the growing arguments surrounding the success of the franchise, the proof is evident in number. Considering a range of market location, the franchise business models employs more than 7.9 million variety of workers and is accountable for almost 760 billion US dollars in market revenue. franchise management software
The result shows that the franchise business accounts to nearly 10.5% of all business, with a direct sales rate of almost $1.3 trillion of total sales. This model provides a franchise with the concerned value of a well-known brand. But how do you think franchises are achieving so much of success?
It’s with the right ideas, that business is guaranteed with a solid ROI. For franchise owners, this means cutting back on years’ worth of investment while relying on a proven business system. Now, what is the business system that’s taking the business forward?
For the visionary franchise owners who’re constantly looking to get a revenue share of this growing industry, need to understand the value of integrating a franchise management software for their small or medium businesses.
Believe it or not, the rightly built software doesn’t just ensure a growing ROI but also increases the business management system and cooperation between multiple outlets scattered across locations.
The importance of franchise management Software
Franchisers are equipped with a unique challenge of managing multiple tasks while keeping a synchronisation of multi-locations while managing brand consistency of the head office. This is quite a difficult task without software. But a franchise management software helps to bridge the gap between the platform, by helping the business owners to empower collaboration through a cloud-based platform.
Before we move deeper in details about the software, let’s quickly look through the top benefits of using a franchise management system:
- Maximised sales
- Optimised supply chain and levels of inventory
- Real-time tracking of active franchise outlets
- Integrated reporting and analytics including, cash flow, profit and losses
- Automation in workflow
- Maintaining brand and marketing consistency
Amongst the other benefits, the rightly chosen franchise management software helps the franchise owner to do the following:
- Help the franchisee units to hire and develop their team
- Expand their brand positioning in a well-managed way
- Manage different franchise candidates effortlessly
- Enjoy the benefits of corporate-level viewpoint
- Support franchise units in conducting their own marketing
- Seamless analysis of large data and information
- Enhanced customer communication
Now that you’ve learned about the benefits of having a franchise management system, you must be interested to buy it as soon as possible. But before you choose to do so, let us show you the key features that your franchise management software must have:
Automation in workflow
Workflows are seen as crucial components within a franchise business. It consists of the process of charting, designing and implementing a comprehensive workflow that requires an equally unique platform. With the right workflow in place, a franchise owner can easily retrieve information about various activities taking place at different units. The main intention of the automated workflow is to increase the rate of lead conversion.
Franchise management software must have these features to map processes and set reminders to automatically facilitate and integrate communication as well as manage the follow-up tasks. You must keep it in mind that workflow automation doesn’t just simply articulate standard franchise activities and reporting, but also manage the performance analysis of the entire business.
Multiple channel marketing
Franchise market owners require their franchise to stay in line with the marketing consistency which spans across the following:
- Social media promotions
- In house advertisement
- Point of sales marketing
- Email campaigns’
Thus, a franchise marketing effort must leave an impression on customers at every level. The intention must be followed through positive feedback from the customer. The rightly built franchise management software must have the quality to adapt to this ever-growing marketing trend. That’s because a franchise development and marketing unvaryingly interlink with each other at campaigns which need to be instead of the email campaigns.
Hence, a franchise management system must facilitate:
- Trigger-based deliver appointment
- Customised links
- Automated email response
- Messaging campaigns
Once all of these is done, the system helps franchise owners and franchise units to focus more on scalability efforts while saving penny in the long run.
Reporting and analytics
If you don’t have a deep understanding of the influence that the franchise is earning, the above features may not be very helpful. The most appropriate franchise software offers an all-inclusive reporting competency that is easy to use, customize and evaluate. Ideally, there needs to have a built-in business management tool that delivers real-time reporting visibility into key aspects of the business.
A franchise management system must be able to deliver insights surrounding the success or failure of the following:
- Lead sources
- Internal and exterior communication
- Sales pipeline
Managing Brand Consistency and compliance
Both brand compliance and consistency are the key factors in the franchise business and they depend strongly on a core marketing implication. The best franchise management software must be able to accomplish this objective by making all the necessary marketing ingredients available within one cloud-based location. This enables the franchisee units with all the resources, materials, directives and assistance that they need to successfully run their business.
It is noteworthy to say that all business follows a certain industry standard for auditing and checklists. Therefore, the software must help to make the process of the outlets easier for the franchise business.
Streamlined time for manufacturing products
Your franchise management system must be able to get along with the flow and develop with your business. As your business increases so do your data. Thus, your franchise management system needs to be in line with the franchisee growing workload. Also, the software must help the franchise owner to add new users and locations without disturbing the present workflow.
It must foster digital asset management for impromptu correspondence. Such that if the employees are spending a certain amount of time shuffling through multiple drives looking for emails, data or images, who do you think is doing all the real work?
It’s the best franchise management software, who is playing the role of streamlining the entire process in just a few clicks.
Automatic asset management implies that everything must be centralized, easily available and secured in one unified location. This is one crucial way franchisees can benefit from speeded-up production time. Although workflows can be disturbed by growing franchise marketing, new onboarding and goods request, franchise management solution offers a flexible location for all brand approved marketing needs in one place. So, you don’t have to worry about any production times.
Grow your business using streamlined software
So, now you have seen that managing a franchise business doesn’t necessarily mean that it has to be time taking. With the right tools and excellent software, you’ll be able to better focus on the success of your business. What is your final goal now? Probably, it’s to find out the best franchise management software for your business that would help to enhance your ROI.
Any software promising a specific ROI guarantee cannot be trustworthy, but using a rightly built software is a great decision that can set any franchise part and achieve growing sales. For more information, you can call us directly, or follow our website www.meetbrandwide.com.