The success percentage of franchises is near to 90%, this is what provides the franchisees the ability to accomplish the highest level of success using franchise software.
But as a franchisor, you still face issues with the development and distribution of marketing resources. That’s because not everyone can choose the right franchise, hence choosing a franchise can be considered as a challenging decision.
Now as your business is growing, you’re still using paper or excel sheets to organize your sales and production, but it may still get little messy. Because you know, a franchise software may help, but since your franchise business is unique, where do you start looking for it?
That’s what we’re going to discuss in this article. The following discussion is towards understanding how to effectively choose the right franchise software. In the first place, it is important to look into the advantages of using a franchise software as well as a perusal of the disadvantages of the same.
1. Using one reliable source of data
You must first decide what you want! One of the major drawbacks for the franchisors is the insufficiency of governance over their range of data. Most often the data gets replicated across multiple system without any appropriate integration, it may be outdated or simply not being used efficiently. So, the best way to start when it comes to organizing your range of data is to make sure you have one right source of data. Thus, by keeping your data updated in one unified location, you can easily reduce error and lower the chances of redundancy.
Moreover, you have to be more discriminating with the help you render toward other people. You have to answer all the questions regarding a franchise software to yourself. If you can answer the questions, then you will begin to get a pretty clear picture about the right franchise software.
Without this picture, you may fail to understand the kind of software that may be of satisfaction to you, or rather your ideal franchise software.
Finding out will be hard work. You need to find what your priorities are! Financial well-being, flexibility, or the challenge of running your business!
Thus, once you have prioritized your needs and you have gathered the appropriate data to collect insights, retain reports, monitor trends you’ll be on the top of latest franchise trends.
2. You have to see whether you have a transparent franchise software
Now you have to find the best software in the market. It means knowing how much transparent your software is, and you also need to know which one is the best for you, or which one you are the most skilled in! What you want, and what you are good at; these two things may be completely different. Hence, it will be possible for you to find out the perfect thing that you are good at. You must do that.
Having the complete transparency within franchise operations is important, but you can’t solve a problem that you don’t even know that it exists. Once you have the complete insight into it, it becomes easier for you to manage any issues in performance in the earliest stage. This might include issues in cash flow, issues in compliance, issues within sales pipeline and more.
If you find the right information you can scrutinize it immediately which become much easier for you to bolster and establish trust. So, the best franchise software for you will be the one in which your business can manage, and at the same time the one you enjoy.
3. Indulge more in scalability than profit
You must understand that the needs of an emerging franchisors will always be different from a developed franchisor. And of course, it doesn’t make any sense to invest in a separate system for every single need while starting your business. You need to indulge more in scalability than profit. However, if you are leaning towards scalability, but you’re not able to manage your franchise business, there is hardly any point in investing in a franchise system that wouldn’t grow with your business. When you see this happening, perhaps, it is time to reconsider your decision.
Additionally, if you don’t have the right infrastructure in place from the very beginning it will ultimately cost you dollars and much of time as well loads of energy down the line. Because, you cannot succeed without having scalability in your franchisee. Thus, in business you have to leave the profit side and embrace the scalable side. Secondly short-term profitable franchise can be good for a short term, but then it needs to be refurbished for long term goals. It may take a lot of hard work and dedication to hold on to the same. The key here is, “Get in, get your money’s worth, and get out.” So, the best idea here is ensuring that your franchise software is scalable.
4. Whether it’s a value for cost
The cost of the software can be an essential factor choosing the right franchise software. Establishing a system from the scratch is more expensive than you can imagine, and it’s also a unnecessary thing to invest in.
So, the best way to ensure whether you’re getting value for cost is the talk to other franchisees is also very important. Other franchisors will be happy to contact you and provide you with a complete list of software they’re using. This will surely save you penny without missing quality.
5. Check if your franchisee approves the software
You need to meet the requirement of the franchises to verify that whether the franchise software can streamline all operations, automate processes, save more time and money also assist your business growth.
At the same time, it’s also important to check if the software is intuitive and easy to handle. This will surely enhance the easiness of franchisees to implement the software. The best thing to do is to bring them in to consultations and get franchisees feedback on the system. This will narrow down the time and difficulty down the line.
Hence, it may be safe to conclude that not all franchise software is suitable for all people. There are different types of franchise software for different people. What is good for one person may not be good for another person. Thus, you should invest in the franchise software that your transform your business needs and allow you to achieve ultimate success.