How to Master Franchise Management
Franchise management is not easy. But with the right tools, being a franchisor can be a great way to get a quality product consistently in the hands of your customers through a standardized distribution channel. Having said that, it’s never easy getting your franchise to grow to the point where it becomes stable and runs smoothly. And there will always be bumps in the road.
That’s why, to effectively master franchise management, you need effective franchise software. Good franchise software that offers comprehensive and easy-to-use franchise management modules will allow you ensure that your franchising business goes smoothly. Too many franchisors become too focused on their franchise development and growing their franchise that they don’t spend enough time thinking about how they are managing their franchisees. That is why good franchise software is so essential: it can make all those processes down to the nitty-gritty details run efficiently with minimal manual input.
Franchise management is all about setting up a system that allows the franchisor to focus on the big picture (franchise development) without getting bogged down in details or the minutia of day-to-day tasks. That’s why a franchise software that emphasizes automation, intuition, and efficiency is critically important to successful franchise management. The kind of franchise software that can help your business will include a franchise management module with the following features:
- Tracking of active franchisees
- Easy management of territories awarded and anniversary dates
- Intuitive on boarding of tasks at a glance – as pending, overdue, complete, and so on
- Dashboards containing counts by year charts, system summary charts, and much more
- Generation of key summary reports
A big part of effective franchise management is being able to measure your franchise’s performance. That’s why a franchise software with a specific franchise performance module is also a great asset in achieving successful franchise management. A good franchise performance module will include the following features:
- Simple management of processing of royalties and other fees
- ACH integration in processing royalties
- Management of Franchise Count for Item 20 in the FDD
- Easy management of franchise areas and territories
- Collection of P&L data
- Intuitive dashboards to track and analyze key performance indicators
- Dynamic reports to analyze growth and every financial aspect of your system
To achieve continued success for your franchising business, you need a simplified solution to customer service needs. A system that integrates numerous support channels, tracks key metrics, and automates frequently repeated tasks will minimize the amount time and effort required to support your franchise and will therefore aid in franchise management. In a useful and reliable franchise support module, you should look for some of the following features:
- Powerful ticketing
- Detailed reports of key metrics to track, analyze, and improve efforts
- A secure help desk for your support
- Instructional videos, manuals, and step-by-step procedures to integrate multiple processes
FranchiseSoft offers franchise software complete with all the aforementioned features and modules and much more. So if you want to put your franchise on the right track toward successful and efficient franchise management, then you need the best franchise software available. For a free demonstration of our franchise software, please contact us today.