Franchising is considered a quick and effective means to sneak into a new market. As a consequence, the emergence of the facet of franchise management as one of significant priority for both established and new investors is undeniable. Read on to gain an understanding of some of the benefits or requirements of franchise management software that franchisors and franchisees alike can take advantage of in growing business. 

• Franchise management allows you to know key metrics inside out to nail down the best franchise growth opportunities. 

In order to succeed in franchise development, you need to be involved in exploring numerous statistics that have relevance to the target market area you have defined. This is done with a view to identifying the most suitable opportunities for growth and getting the most out of them. The concept of due diligence also needs to be incorporated. When you do due diligence you’re actually acquainted with the developments taking place in real estate, the shifts in demographics, and the tariffs and agreements related to the industry. In addition, due diligence is done while you analyze and interpret scores of franchise-specific performance metrics. 

Franchise management software helps in streamlining this interpretative process without undermining the volume and quality of information put under consideration. As far as franchise development is concerned, this turns out to be a major focus. To fulfill this criteria franchise management software is conceived to deliver automatically generated sales pipeline reports well stocked with vital metrics and KPIs. Apart from these regularly supplied automated reports franchise management software lets you monitor the metrics in real-time as well from all mobile devices. This implies you can quickly make a comprehensive analysis and well-informed interpretation. Through faster delivery of higher quality information, franchise management software comes to the aid of franchise developers to outplay competitors in their pursuit to make inroads to new and existing markets. In particular, this is important in industries that are undergoing speedy growth in recent times such as fitness and elderly care where potential opportunities are quickly picked out. 

Franchise Management Software

• Franchise management software enables you to easily and effectively reach out to leads and prospects.

The design of franchise management software is formulated in such a way that you can effortlessly be in communication with new leads besides converting existing prospects into franchise owners. In addition, franchise management software seamlessly incorporates any lead portal into its framework. The tools put forward by software for franchise management facilitate a simple yet systematic generation of interest among entrepreneurs as far as your brand is concerned.  Franchise management software comes up with customized, visually engaging templates that contribute to improving the productivity of the email marketing campaigns you set afloat to reach out to cold leads or passive candidates. Once the connection is established, franchise management software makes getting hold of leads as simple as initiating a single click phone call or directing a text message. When the actual conversation sets in, franchise management software ensures all information pertaining to the contact details of the leads and their entire correspondence history is at your ready disposal. In this way, software for franchise management helps you in resuming the contact where it was earlier left out at any stage of the sales cycle.

• Franchise management helps develop your brand while you’re on the go.

With software for franchise management by your side, you can gain access to all software modules that are related to franchise development from all mobile devices. The access can be consummated any time and from anywhere without having to compromise on personal information security. This information is vital and takes into consideration the following aspects that franchise developers expect to be in charge of.

• Managing new leads
• Scouting for new franchise locations
• Realizing franchise sales
• Carrying out financial meetings

• Franchise management software helps get rid of administrative redundancy. 

It’s common knowledge that franchise developers remain extremely busy in their grind round the clock. That’s why it’s only normal for franchise developers to want not to spend considerable time in the execution of administrative duties as they need to focus more time interacting with leads and prospects and securing franchise sales. Because of this reason franchise management software is delineated with the vital objective of getting rid of redundancies at all turns. Thus, regardless of whether you have an inclination for saving time with stereotypical franchise information accommodated within high-yielding correspondence templates or eliminate superfluous data entry tasks by transferring lead information into the accounting module of the incorporated framework post-conversion franchise management software can help.

If truth be told, franchise management can bring about lots of challenges. However, with the right accompanying tools, the calling of a franchisor can turn out to be an effective way to consistently get quality products delivered to customers by means of standardized distribution channels. That being said, it’s always an uphill task to develop your franchise to the point of smooth operations and stability notwithstanding the hurdles that crop up on the way.

Because of that reason, to be competent in managing a franchise, it’s imperative that you have recourse to effective franchise management software. Great software for franchise management comes up with all-inclusive and user-friendly modules that enable you to set the seal on making your franchising venture run smoothly. In the course of franchise development, if there are franchisors in excess, each of them gets too much engrossed in their respective franchise development. Consequently, they forget to spend adequate time to think about strategies to efficiently manage their franchisees. This is the primary reason why powerfully built franchise management software is so necessary. It has the ability to run processes in an absolutely thorough-going manner devoid of any noticeable manual input.

Franchise management software can be reviewed in three distinct facets.

• How does it manage a franchise?

The essence of franchise management lies in building a system that empowers the franchisor to put more emphasis on the fundamental and most important aspect of franchise development. It leaves franchisors relieved of the headache to maintain details of day-to-day tasks. On account of this reason franchise management software concentrates on automation, efficiency, and intuition all of which are crucial to effective franchise management. Business-friendly franchise management software helps put forward the below-mentioned features. 

• Monitoring the performance of active franchisees
• Effortless control of the awarded territories
• Intuitive franchisee onboarding tasks that give the statuses of pending, complete, and overdue at a glance
• The presentation of dashboards giving information on key business metrics in the forms of annual and system summary charts
• Generation of summary reports containing franchise-specific key performance indicators

1. How does it help a franchise perform?

A major part of successful franchise management is confined to franchise performance monitoring and measurement. That’s why franchise management software equipped with a performance monitoring and measurement module is an asset for the achievement of effectual franchise management. Good performance module of software for franchise management takes in the below-mentioned features.

• Simplified royalty processing
• Smooth integration of automatic clearinghouse to process royalties
• Easy management of franchise disclosure document
• Simple handling of franchise outlets spread across areas as well as territories
• Effortless collection of profit and loss data
• Creation of intuitive dashboards for keeping track of and analyzing key performance indicators
• The generation of dynamic reports to review growth and all financial aspects of the franchise system

• How does it support a franchise?

For every business, continual, consistent success is paramount, and it’s no different for a franchising business. Nonetheless, you need a well-organized, simple solution to cater to customer needs. The support module of franchise management software consolidates innumerable support channels, keeps a close watch of vital metrics, and carries out automation of frequently recurring tasks. As a result, the extent of time and effort you require for supporting franchise and subsequently expediting franchise management are considerably reduced. The helpful and reliable module of franchise management software encompasses the following features.

• A robust ticketing system
• Comprehensive reports of key performance metrics for tracking, analyzing, and improving efforts
• A secure support helpdesk
• A digital library of manuals, instructional videos, and step by step guides on how to do integration of multiple processes