The soft launch of your franchise options has proven to be more successful than anticipated. In fact, maintaining the level of support that your franchisees have come to expect is getting difficult. What you need is a robust franchise management software that will streamline processes and make it easier to give each franchisee the attention that he or she deserves. Here are some of the key features that should be in the software that you select.
Customer Relationship Management Tools
You need a full CRM solution in order to ensure nothing falls through the cracks. The right software will make it easier for you to manage everything from initiating and responding to communications, scheduling training events, and checking on the sales funnels for each franchisee.
At the same time, the CRM can aid in moving potential franchisees through the process of qualifying and establishing their franchises. At a glance, you will know what’s been completed, the next step to take, and how to ensure that all the details are addressed in a timely manner.
Inventory Management
Inventory control is important. It’s one of the ways that you support franchisees in maintaining the quality associated with the brand name. It’s also one of the approaches that help to keep operational costs within reason.
The software you choose should make it easy to know when it’s time to order anything for the inventory. That includes the quantities as well as the type of item that’s needed. Doing so makes it easier to operate with a lean inventory, keep tax obligations down, and still have what’s needed for your operation and the operation of the franchises.
Automated Processes
Automation makes it possible to complete tasks that you used to do manually. Making the most of automated processes helps to ensure things are done on time and without fail. It also frees up resources that can be put to good use elsewhere in the operation.
Think of how many processes could be automated. From sending out regular updates to franchisees to help with marketing campaigns and new marketing materials, there is much that can be handled in this manner. Check any franchise management software that you’re considering and see what type of processes it will help you automate.
Effective Reporting Capabilities
Communication in the form of reports is key to the success of any franchise program. It’s how you keep up to date on the revenue generated by each franchisee, any costs that are incurred, and the amount of net profit that results. This is important, since franchises have to be profitable in order for you to make money.
Efficient reporting makes it easier to identify trends and address any apparent issues that may be happening. It’s also a means of keeping on top of what royalties to expect in the upcoming period, and to recognize franchisees who are exceeding their goals.
There’s a lot more to this type of software than many realize. Arrange for demonstrations so you have a better idea of how the product would work in your case. It won’t take long to find the solution that will make it easier to manage the franchise program and continue to offer the support that your franchisees deserve.