Simon Pullum of the Azura Group provides some ideas for keeping your franchisees’ sales up:
“Many franchisees, unfortunately, do not put as much effort into the lead generation and sales process as we would like, but without the right tools it is difficult to track exactly what activity they are doing.
The main way to gain true visibility is to provide online sales tools for them. These should be tailored to support your sales process, helping make it easier for franchise owners to perform their sales activities and improve their business, but they will also allow you to monitor their activity and importantly bench mark it against the rest of the network. This will highlight areas where people are doing well (and so can be replicated across the network) and also the areas which need work.”
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Tags: business planning, finance, franchise a business, franchise business, franchise development, Franchise Finance, franchise growth, franchise information, franchise success, franchise suppliers, franchise tips, franchisees, franchising, franchising in the uk, franchisors, simon pullum
Jim Connell of Wildfire Technology hosted a discussion to answer this question. Here he discusses the results.
“Recently I posed this question on Linkedin. As developers of franchise management software, it is important for us to know how franchises view data so that we can consider how we handle data in our own systems.
As with many franchising topics, this has caused a lively discussion, with participants from across the globe making interesting contributions. Most contributors believed that the data belongs to the franchisor, but this was not unanimous.”
Tags: business planning, finance, franchise business, franchise development, Franchise Finance, franchise growth, franchise information, Franchise Legal, franchise news, franchise suppliers, franchise tips, franchisees, franchising in the uk, Jim Connell
Richard Dorf of PXtech warns of ‘sweethearting’, where employees give free goods away to friends and family:
“Most of us will be familiar with spending money on our loved ones. But have you ever considered how much ‘sweethearts’ are costing your business on a daily basis?
Franchise owners are consistently focused on protecting their profit margins but it’s easy to overlook the impact that fraudulent staff activities, such as ‘sweethearting’, can have on revenue. Richard Dorf, MD at EPoS specialist PXtech, explains how the latest BI solutions can help to identify discrepancies and protect bottom line profit.
Sweethearting – a term coined to explain the process of staff members giving away free goods to friends and family at till points, is fast becoming a trend that franchisers could really do without. Employees may see the odd “freebie” for a friend or family member as a perk of the job, but the impact on revenue can be devastating. For example, imagine that an employee gives away goods to the value of £10 a week. That’s £520 a year. Now imagine that happens in each of your ten franchises – £5,200. Not to mention the chance that if one employee is doing it successfully, others will be too.”
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Tags: business planning, economy, finance, franchise business, franchise development, Franchise Finance, franchise growth, franchise information, franchise research, franchise suppliers, franchise tips, franchising in the uk, franchisors, richard dorf