Efficient management of a widespread franchise network calls for the deployment and fullfledged utilization of franchise software. In current times, the majority of franchise software solutions are cloud-based. They allow users to be at the helm of large-scale business networks. Franchise software is identical to retail software equipped with an all-inclusive array of tools. In addition, franchise software offers support to multiple site locations and franchise owners thereby facilitating streamlined analysis of a huge reserve of data. The onus lies on the franchisors to choose the precise data they want to send to or receive from the franchisees. Here are a few major requirements of franchise software that need to be taken into account.

franchise software

• To optimize the supply chain and inventory levels.

With the help of franchise software, it’s possible for the franchisor to view the inventory status at the corporate level. Naturally, placing purchase orders depending on minimum and maximum inventory levels has never been easier. Moreover, franchise software grants you the ability to directly connect with the supplier chain.

The software is also outfitted with a stock replenishment tool that can be put to maximal use throughout the franchise chain. The tool helps franchisees with the acquisition of insights gathered from seasonal trends and historical data. To cut a long story short, with franchise software in tow, franchisors gain full awareness of the events and activities happening at various franchise outlets. At the same time, franchisees acquire full knowledge of their supply. Thus, everyone is on the same page regarding the number of products at hand and the possibilities of any shortages or oversupplies in the future.

• To increase sales.

Customers primarily return to a specific franchise outlet if they receive top-standard customer service from the corresponding franchisee on their first visit. With an increase in sales in an outlet, greater revenue is generated for all concerned parties. Franchise software comes up with sales promotion and customer loyalty tools to ensure more and more customers return to the outlets. Although the eventual in-store interactions with customers are the franchisee’s prime responsibility, great franchise software can additionally help amplify franchise outlet-specific sales.

• To inspect franchisee performance.

Franchise software is the point of convergence of franchisors and franchisees. All mutual interactions happen via the franchise software platform. The inspection of franchise outlets can be carried out smoothly in real-time. Each franchisee can be monitored devoid of the occurrence of any conflict. Nowadays, nearly all franchise software solutions are cloud-based. This implies the software is also accessible via mobile devices such as smartphones and tablets.

The software allows you to evaluate the performance of franchise outlets through the surveillance and comparison of their sales and supply chain statuses. Subsequently, problematic areas can be identified and goals relevant to management and sales can be decided to get to the bottom of any issues and solve them. The availability of historical information enables the early detection of problems. This leads to faster inspections in person. Furthermore, inspections aren’t needed on a regular basis. As a consequence franchisees enjoy more freedom to execute their day-to-day activities.

• To improve marketing endeavors.

Best-in-class franchise software can be leveraged by allowing franchisees to do marketing within their individual limited scope. Thus, each business owner gains more flexibility and freedom. By means of franchise software, marketing campaign workflows can be shared with other franchisees and the head office. In this way, any franchise owner can adopt, monitor, and improve marketing campaigns. What’s more, they can tailor it in real-time to fulfill their individual needs.

• Other requirements.

With franchise software by side, the head office can take to monitoring vital data such as cash flow, expenses, revenue earnings, and profits and losses for all franchise locations. Thus, the need to send regular reports to the head office becomes optional.

Franchise software also furnishes a powerful enterprise management interface for individual franchisees. The interface empowers you to handle the operations of outlets in a manner you find suitable. Moreover, systems and methods of operations can be compared with those adopted by separate outlets and corresponding performances examined.

This approach brings in competition among franchise owners and motivates them simultaneously. In addition, the enterprise management interface introduces important features such as website and ad builder, staff directories, and all-encompassing content management short of which it’s impossible for large franchises to survive. Definitely, regional heads contribute significantly but all reports, stats, and analytics need to be systematically generated and delivered to the head office. 

How to review the efficacy of franchise software?

Solutions for franchise software can considerably come to your aid in ensuring your business expands. To make sure the franchise software you opt for is well suited to meet your unique needs and accomplish better business results look for the following main features in it and review them carefully.

• Automated workflows

As far as franchise software solutions are concerned it’s important to have the ability to gain access to automated workflows linked with your business. When automation in various workflows is implemented with solid design and perfect delineation for accommodating your specific business requirements in a comprehensive manner, then you can attend to and correct particular business-related processes as and when the need crops up. Therefore, automation in workflows primarily applies to supervising the several activities that take place at every stage of your business.

• Campaign implementation

Campaigns form an integral part of franchise business management. This is owing to the reason you want your business to develop and scale up. At the same time, it’s pivotal that the franchise software solutions you depend on for expanding your business take the facet of adaptability into consideration with regard to the different types of campaigns you want to fashion and offer support as a basis to improve the profitability of your business. Features endowed in franchise software to enable your campaigns should also be allocated with the task to make sure they can create email marketing campaigns with an aim to move leads in an effective manner through the various stages of your sales cycle.

• Source tracking

In all certainty, the franchise software you settle on with the intent of scaling up your franchise business should have the ability to provide information of the sources wherefrom leads get to know about your business through the email marketing campaigns you deliver. This approach will then allow you to prudently use the money you have apportioned for marketing endeavors. You can spend money only on those sources that generate substantial leads. It gives you assurance when, with the help of franchise software, you’re capable of getting to see the different avenues your leads have availed of in the course of finding more about your franchise brand and its products and services. Whether the leads arrive via social media, paid campaigns, promotional events, or referral processes, best-in-class franchise software is capable of tracking the sources which in itself is an impressive endowment.

• Full sales cycle integration

It needs to be ensured the franchise software solutions you choose, facilitate the integration of the full sales cycle. This is indicative of the fact that the software should be able to come up with excellent franchise management competencies. Furthermore, the software should grant you the ability to comprehend the line of actions that need to be undertaken or have already been undertaken in connection with awarding a franchise to a potential franchisee.

The franchise software also guarantees streamlined CRM integration in the course of the various subsequent stages of the sales cycle of the franchise. Additionally, it’s imperative that the franchise software capacitates smooth information transfer acquired from different sales processes. The information so gathered is transmitted to various sections linked with onboarding and compliance management processes.

• Reporting and analytics

At all times, franchise software must be capable of including the crucial feature of reporting as well as for analytics. Gaining an in-depth understanding of your business performance is imperative. This is where reporting and analytics lend you a helping hand. They ensure outstanding franchise business performance supported by optimal sales and profits related results. Once you gain valuable insights from the reporting and analytics functionality you can make relevant adjustments to your business strategies. Reporting and analytics give you the opportunity to grasp how well you’re utilizing the efforts put in via automated workflows, communication, lead sources, campaigns, and sales funnels.