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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.” In this article, we will take a look at why   Unit Level Economics   are important in a franchise business, and how to put it in place in your organization. Why Unit Level Economics for Franchise Businesses Strong Unit Level Economics is the foundation upon all business success sits. Even though most franchisors get royalties from revenue, ...
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The majority of restaurants are franchised. The 2012 US   Economic Census   numbers say: “the estimated 122,042 limited-service franchise restaurants (NAICS 722513) make up approximately 54 percent of all fast-food restaurants in the United States, nearly 70 percent of the sales of fast-food restaurants ($185.4 billion), and about 73 percent of the employment of fast-food restaurants (3.6 million).” So – how do you effectively manage a restaurant in terms of Key Performance Indicators (KPIs) in the franchising environment. See our list of 15 helpful KPIs below. Sales and Marketing Average Online Rating With 91% of 18-34 year olds trusting   online ...
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So You Own a Franchise, now what? Hiring Advice: What You're Doing to Turn Job Seekers Off If you’ve ever been single, pursuing a relationship of some kind, then you know how unsettling the process can be. One person tries to impress the other, communication flies back and forth, and if, at any point, one person thinks he or she is doing well but the other does not, everything breaks down. The expectations of the eager person are crushed, and the other person moves on in pursuit of something better.  Job seekers face similar perils when job hunting. There’s the anxiety of the unknown and the reality that rejection will probably happen before the search ...
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So You Own a Franchise, now what? Hiring Trends You Need to Know Ask any business owner why they do what they do and most will tell you it’s because they have a passion for it. They have a passion for the industry, the product, or may even be driven by a passion to do something that is entirely theirs. People buy into a franchise network for the same reason, but have the added benefit of established brand recognition, a support network of owners that have experienced exactly what you are going through, and a head start on more necessary (but vital) aspects of the business, like marketing materials, best practices, etc. But there are very few businesses ...
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So, you bought a franchise – now what? A simple guide to hiring and managing franchise employees. Part 2 | 5 Tips for Managing Franchise Employees Now that you’ve hired some rockstar employees, it’s important that they stay – but what are some of the key ingredients to making sure that employees don’t leave?  There is certainly no magic formula as every franchise business is different, however, these 5 tips on managing franchise employees are a great place to start. 1. Offer Training The training you provide to your employees will be vital to their overall success in the position, and directly correlated to the overall business success. ...
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So, you bought a franchise – now what? A simple guide to hiring and managing franchise employees. Part 1 | 5 Tips for Hiring Your Key Franchise Employees You bought a franchise, built out your office space, and have all of your marketing materials printed. But now you need a team. How do you know who to hire, or what you should even be looking for? Hiring can seem daunting given everything else you have going on, but these five tips will help you get started without pulling your hair out. 1. Leverage your Franchisor (and your fellow franchisees) Purchasing a franchise brand has many benefits, but one, as it relates to hiring is ...
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Today’s post is all about auditing your backlink profile to   improve your franchise website’s ranking   and visibility. We know that might sound a little intimidating to those who came here looking for quick and easy franchise marketing solutions. But don’t worry: auditing your backlink profile is simpler than it sounds. We’re going to walk you through the basics and pinpoint 3 red flags to watch for when evaluating links. What is Auditing Your Backlink Profile? For the purposes of this article, “auditing your backlink profile” means looking over all the links that point users to your website in order to spot any dubious sources or activity. Google ...
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Franchise marketing is the key to monetization. With that in mind, today’s post spotlights FranchiseSoft’s value for accomplishing your franchise marketing mission. Effortlessly Share the Details of your Franchise Marketing Mission A   successful franchise marketing   mission requires utter cooperation and brand-wide coordination. National marketing pushes need to align with local marketing efforts; brand copy and coloration needs to stay consistent in ads; vital demographic information needs to get to the right people ; and everyone needs to be working towards a common goal. To do all that, reliable communication channels are essential. With ...
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If you’re looking for a franchise development consultant, today’s post can help. Read on to learn 5 essential criteria every candidate should meet. Franchise Development Experience. This one’s mostly a given–especially if you’re a newbie, it’s important that you choose a   franchise development consultant   with plenty of experience and success stories under their belt. And don’t just take their word for it, either. Ask for concrete evidence that backs up their claims. This shouldn’t be a problem for legitimate franchise development consultants. On the contrary, they’ll relish the opportunity to share success stories. Who doesn’t like to talk about ...
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In a franchise environment, it’s important that the franchisee experience is as   consistent as possible .  If you think of investing in a franchise as one of the most important financial decisions of a franchisee’s life, it’s understandable for them to expect to receive value from their coaching sessions. They also expect that the franchisor will hold all other franchisees to the same high standards in order to protect everyone’s investment. In this era of social media, a franchisee delivering an inadequate experience can permanently damage the system as a whole in the blink of an eye. “Calibration”, a term many connect with engineering and music, is simply ...
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Productivity   is always the end game. Everyone is looking for ways to do more for less. Today’s post highlights how our   franchise technology solutions   counteract the top-3 productivity traps hurting big brands today. Wasting Time on Low-Level Tasks.   Not every task is worth your time and energy. For instance, if you make money selling franchises, why would you waste your time and special skills typing up financial documents? While inputting accounting data is an important job, franchisors have better things to do. That’s why it’s so important to delegate–or better yet, automate. We designed   our franchise technology solutions   to automate ...
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Today’s post is all about simplifying your ADA compliance testing. Read on to learn about some greater   ADA compliance testing tools   and tips to try before you call in the experts. Understanding your ADA Responsibilities Enacted nearly 30 years ago to protect the rights of individuals living with disabilities, the Americans with Disabilities Act (ADA) makes all businesses responsible for ensuring their products and services are accessible to everyone. Before the Internet Age, the Act mostly sought to improve physical locations by regulating service animals, wheelchair ramps, and the use of braille. But now that’s all changed. In 2019, ADA regulations ...
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Often forgotten but more important than ever is the Marketing section of the   franchisee audit . Based on our research, the franchisee success on the Marketing audit, especially the section on planning, can actually predict growth. Based on popular demand, we did an extensive review of over 50 audit questionnaires from a half-dozen industries and came up with the best Marketing questions for you to add to your annual audit checklist. Basics Exterior signage, clean, illuminated and in “like new” condition. Menu panels, clean and and in “like new” condition. Store decorated appropriately for the season. Television clean, in good working order, and ...
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Bad data is one of the most aggravating things to deal with in the digital space. It’s a hindrance to all kinds of presence management strategies, and it specifically affects franchises often . That’s why it’s so important for local marketing providers and franchise leaders to take control of a location’s NAP data (name, address and phone number,) especially when it comes to a local business listings. Doing nothing could mean losing business! How Bad Data Is Created There are several causes that lead to the damaging effects of bad data, and they’re not all a byproduct of negligence on the franchise’s part. Information can easily be lost in the mix ...
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Today’s post is intended to showcase our   franchise management app’s   incredible handheld functionality. Read on to learn about how FranchiseSoft helps businesses get built on the go–you might be surprised at what a single mobile app is capable of. Manage and Support your Employees in the Field FranchiseSoft’s Field Service Management and   Employee Management modules   put your entire active roster and daily operations in the palm of your hand. What would have taken hours of phone calls and travel time to do has been boiled down to a few clicks. Features include: Simplified Communication.   All employee and customer contact info is readily ...
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It is practically impossible to manage a complete franchise family without proper franchise operations software. Quality franchise operations software   has all the features of traditional retail management software, plus dedicated features for multi-site onboarding, communications, monitoring, training, and analytics. FranchiseSoft also offers marketing solutions, lead generation functionality, and more. And it’s all scalable: whether you’re a single unit franchisee or a big-time multi-unit franchisor, you’ll get tons of value from our solution. Not convinced? Today’s post spotlights a few of the features that you’re missing out on without franchise ...
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Today’s post highlights the value of our franchise lead management software at every stage of the sales process. Read on to learn how FranchiseSoft helps your brand stand out from the competition, bring leads into the system, and increase conversions. Making a Strong First Impression One of the most difficult parts of lead generation–grabbing the lead’s attention–also happens to be the first step in the process. Last year, 61% of marketers said that their main challenge was generating traffic and leads, according to the 2018 State of Inbound   survey . At the same time, 69% of marketers indicated that their top priority was converting contacts and leads ...
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Today’s post touches on a few ways that FranchiseSoft empowers your   franchise management services   to make it easier than ever to improve company culture. The importance of company culture first came to prominence in the 1989s, when researchers sought to explain the sustained superior financial performance of industry-leading firms like IBM, Hewlett-Packard, and McDonald’s. Again and again, researchers noted that firms with sustained superior financial performance were characterized by “a strong set of core managerial values that define the ways they conduct business” (Barney, 1986, p. 656). 4 Ways to Upgrade your Company Culture with Franchisesoft ...
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Back in 2006,   Entrepreneur   magazine published an article titled “10 Signs of a Great Franchise,” in which author Jeff Elgin provided a checklist that candidates could use to identify strong franchise systems. With reference to Elgin’s list, today’s post explains how FranchiseSoft improves training, adherence, recruiting, and accountability to create a   stronger franchise system   that attracts more candidates and generates more sales! Signs of a Strong Franchise System Here’s what   Entrepreneur   magazine identified as the top   signs of a strong franchise system –and what FranchiseSoft does to ensure your brand qualifies: “Responsiveness ...
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Today’s post is all about how FranchiseSoft can optimize your franchise marketing. Read on for a brief and beginner-friendly introduction to our   franchise marketing module   functionality. Keep the Backbone of your Franchise Marketing in your Back Pocket According to the eCommerce Foundation, 88% of consumers use the internet to research products and services before they make a purchase online or in-store. And while in most cases the franchisor’s national marketing campaign will end up doing lots of the leg-work for you, having a professional website for every franchisee is still essential. Your website is the backbone of your online presence. ...
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