Collecting and analyzing the right data can be a powerful business tool to realize unit and system growth. Simply put, by integrating technology solutions that can take data from different areas of the business and bring it together in a way that you can easily track and analyze, you then gain access to important business intelligence. This enables you to make informed decisions based on unit-level metrics, such as revenue tracking, marketing efforts and staffing. Has everyone completed training? How are you comparing performance levels between and across regions or groups of franchisees? Can your franchisees see how they rank geographically or compared to units with similar characteristics to benchmark their performance? Are franchisee goals in place and how are you measuring whether or not they are being met?
Tools and Techniques for Achieving Unit and System Growth
At FranConnection’16, our customer conference being held at Gaylord National Resort & Convention Center, National Harbor in Washington, DC., we are thrilled to present Tools and Techniques for Achieving Unit and System Growth, where we will first discuss the key strategic areas of focus vital to achieving growth at the unit level. We’ll then review how programs, systems and business intelligence dashboards have been implemented with success and share best practices. You may have the technology in place to collect data, but what do you do with all this data? How can you use this information to boost performance and create value for franchisees? The nature of the franchise business means that franchisors have all types of data across all units, and this presents a great opportunity to gain unique insights, down to the unit level. So you need to turn that data into information and put it to work.
During our session, key takeaways will include:
- How to correlate franchisee evaluations with franchisee performance
- How business intelligence can help grow your system
- The role and realities of shared performance comparisons
- Effective performance goal-setting and benchmarking
Collecting data is just the first step. To achieve unit and system growth, franchise leaders need to choose the right data points to analyze, share and act upon in order to improve unit economics, increase efficiency and plan for the future.
Register for FranConnection’16 and learn how to make these principles work for you to transform your franchise.