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Operate
A man's hand next to digitized stats

With constant change the only certainty, harnessing the power of data for growth amid shrinking resources and shifting consumer behavior is critical for franchise brands of all sizes. Advanced point-of-sale and customer relationship systems offer franchisors the digital footprints to engage, garner feedback, track trends, try new products, and create unmatched customer experiences. Analytic data, swiftly served up, can also be a powerful ally to predict the success of local marketing and franchise development tactics and drive growth-focused operations and franchise relations decisions.

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We have all heard that Unit Level Economics is important in franchising but going from understanding it in theory to transforming it into action is a big step.  According to QSR Magazine, “the success or failure of a franchise concept can pivot off of how well unit economics are tracked, managed, and improved.” After working with over 900 brands a common practice among them is working together with their franchisees to improve their unit-level economics: not only their top-level sales but also their bottom line. If you’re not doing this today, you will have trouble selling franchises in the future.

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Written by Keith Gerson, CFE – Gerson Advisory Services

As a franchisor, it can feel awkward to refer to your franchisees as customers, right? But by and large – they really are. As the franchisor, you can control the things that are defined in your franchise agreement, but at the end of the day these franchisees are not your employees. Thus, influencing what they do daily and dictating how they run their business is entirely up to them.

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A woman clicks on a tablet to reveal a digitized cloud

If you’re part of an emerging franchise business, chances are, you’re familiar with software and other tech solutions that promise to make life easier for franchising. But aren’t those products built for large enterprises
  would they work for a ‘startup’?  And does it even make sense to invest in technology at an early stage before you’ve mastered your processes and built a winning team?

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A visit from a Franchise Businesss Consultant (FBC) can stir up a lot for franchisees. Some can see the FBC as a checklist-wielding intruder, while others may see it as a major disruption – like the Kool-Aid man bursting into the side of their operations when they are trying to get stuff done. While using your checklist is needed, why not provide them with some surprise value during the franchisee visit? Check out the tips below to learn more.

 

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A field agent visits a restaurant and talks to the head chef

Franchise business consultants have always been critical drivers of brand success, but their role has shifted considerably over the years and continues to evolve today.

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