The middle ground for interaction and collaboration between franchisors and franchisees is franchise management and the software framework it puts forward. Franchise management gives assistance in amplifying the engagement rate between the two parties in connection with the different aspects of business, for example, operations, sales, marketing, brand and inventory management, reporting, CRM, and more. In essence, the system sets up rules and processes that are mutually agreed upon by the two parties.
This enables the franchisor to keep a watch on the performance on the basis of real-time reporting and analytics. It allows the franchisor to be in charge of the franchisees. It also authorizes the franchisor to pick up information about market trends and preserve them for more analysis and benchmarking in the future.
Conversely, franchisees can make use of the software for franchise management to bring about automation to their core operations, keep an eye on their performance, and send essential reports as demanded by the franchisor.
The software architecture for franchise management can range from basic solutions catering to retailers and multiple vendors to more progressive offerings that support several sites and franchise holders.
Franchise Management
Read on to gain an understanding of problems faced in franchises and how they’re circumvented through franchise management.
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The need to carry our mundane low-value tasks manually
This problem can be solved by automating workflows and simplifying administration. By making use of software for franchise management repetitive or small-value tasks can be done by self-powered operations thereby giving adequate time to your team to put more focus on all-important endeavors. To ensure further franchise development you can take the following actions:
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Set up a comprehensive workflow configuration
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Map processes
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Define alerts and triggers for automatic transmission of communications
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Register correspondences and follow-up assignments
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Lay down standard activities
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Evaluate performance
Automation in franchise management can also aid in providing a streamlined administration procedure to manage the whole network as a single enterprise.
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Improper management of the supply chain and inventory levels
Through efficient franchise management fuelled by compelling software, a franchisor can obtain the tools and enterprise-wide visibility for responding to customer demands. In absence of the software, manually knowing the status of inventory is a highly challenging task.
When you have a comprehensive franchise management system in place, you can put orders on the basis of maximum and minimum inventory levels. Knowing the status, you can contact supply chain managers.
When it comes to franchisees they have access to information on supply and stock replenishment. All links in the franchise chain remain completely aware of the goings-on in terms of the number of products in stock, predicting any future shortages, and drawing up plans to mitigate them.
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Poor sales figures and low ROI
Franchise management helps increase sales. It enables you to look after the interests of your existing customers and build long-standing loyalty and relationships.
Even though the onus lies on the franchisees to make sure good in-store customer experience, powerful software can come to their aid in driving more customers to the outlets. Franchise management includes tools such as the following that aim at retaining customers.
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Targeted customer discounts
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Loyalty discounts
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Sales promotion management
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Gift cards and coupons
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Customer tracking
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In-store credit tracking
It boils down to the fact that as every outlet keeps on selling more, every involved party enjoys more profitable results.
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Unplanned, ineffective marketing strategies
If the franchise marketing team doesn’t plan and execute campaigns without any in-depth research and preparation it will only lead to significant cost outlay without any moneymaking results. Franchise management allows franchisees to make the most of opportunities they seize while conducting their individual marketing in a limited space. Thus, franchisees can do business independently and with more flexibility.
Software for franchise management grants you the ability in approving, monitoring, and improving marketing campaigns in real-time. You can propose all marketing ideas throughout the franchise network. Subsequently, the franchise owner can look into your ideas and implement them if found worthwhile.
It’s also important to find out the source from where your leads received the information about your brand. The source can be any of the following.
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Social media
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Paid campaigns
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Referral
Franchise software management allows you the option to find out the number of leads obtained from each of the promotion channels following which it carries out a comparison of this data with total expenses spent on each of the sources. If you have a CRM system that’s designed specifically for franchising, it can help you in adding leads right from franchise brokers or portals.
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Conflict of opinions between franchisors and franchisees
Through franchise management, the owner is capable of keeping a watch on the operations of all outlets in real-time. Any concern area that comes to the notice of the franchise owner can be pointed out and addressed. Simultaneously, any sales, marketing, or management goals can be finalized to sort out any issues.
You can make use of historical data reserves to detect problems early. Consequently, real in-person surveillance happens more promptly and doesn’t need to be carried out regularly.
Thus, real in-person inspections happen faster and aren’t needed regularly.
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Data inaccessible and not synchronized in devices
This problem can be eliminated by employing cloud technology. In recent times nearly every franchise development takes place with cloud software installed in their systems. This facilitates seamless access via mobile phones and tablets. Simultaneously offline work is also possible. Data synchronization resumes when internet connectivity is re-established.
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Integration problems with other co-habiting software systems
It’s imperative for franchisors to monitor the course of action that takes place once they’re awarded the ownership of a franchise. Make sure the CRM you choose gets seamlessly incorporated into the succeeding stages of the franchise lifecycle.
Integration incompatibilities are eliminated through the implementation of the franchise management system. It’s got a reliable integration feature that offers coherent APIs to input or output external data for use somewhere else. The system also has an in-built digital signature capability by virtue of which it can be brought into line with accounting software as well as payment gateways.
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Problems to obtain and analyze reports and make prudent business decisions
Franchise owners need to be informed that attracting the right target audience is key for converting qualified leads into moneymaking opportunities, successful closure of deals, and steady franchise development. Without the reporting and analytics features, it’s extremely difficult for franchise owners to find out the overall performance. Also, they won’t know anything about their strengths and weakness in terms of meeting core business goals.
Hence, a robust franchise management equipped with a business intelligence tool provides tracking of key metrics in real-time and provides reports and dashboards that can be shared both locally and across the board.
If you’re keen to know more about our franchise management system, don’t wait to get in touch with us at BrandWide. Should you need specific ideas to propel your business growth or purchase franchise management software we’ll be happy to help you.
