Apr 21, 2022

Introducing FranConnect Franchise Scorecards – a snapshot of your franchise’s health!

Written by FranConnect

We recently launched Franchise Scorecards and are excited to share the news! The franchise scorecards, part of FranConnect’s Operations platform, equip brands with a complete view of the health of a unit at your fingertips helping franchisees drive unit-level economics. Anyone involved with franchise field visits likely agrees that the prep work for a visit can be daunting. It seems to take hours, pulling information from different systems to end up with questionable economic insights. Additionally, comparing one unit against the average of their peers is nearly impossible without having key performance metrics identified.

Now that we’ve made the case that replacing tedious and time-consuming manual processes is needed, let’s discuss how Franchise Scorecards help – namely, by providing Franchise Business Consultants (FBC) actionable information about the health of a unit. Having valuable comprehensive business insights at your fingertips can make it easier to help individual units be successful. Franchise Scorecards also allow you to link goals, insights, and actions making your teams and units more effective through information sharing, centralization, transparency, and accountability.

Screen Shot - Scorecards

Easily compare KPIs (Key Performance Indicators) to quickly identify the biggest opportunities.

Franchise Scorecards aggregate information from field visits, POS systems, loyalty programs, surveys, and self-assessments allowing an FBC to easily identify the biggest areas of opportunity. With just a few clicks, you can compare 10-12 key performance metrics against the average of their peers, utilizing actional insights to support the ongoing coaching conversation.

Using the Franchise Scorecards as a guide, FBCs can rapidly compare one unit with the system as a whole or a subset of units and quickly determine proper goals to be included in a business plan. If a key performance metric is identified as weak, the FBC can either educate the franchisee on the spot or quickly guide them to go through some training content hosted in FranConnect’s training platform.

On the other hand, if more accountability is required, the FBC can then leverage additional tools within FranConnect’s Brand Consistency platform to educate the franchisee on necessary improvements, direct them to training content, or assign a playbook with a set of tasks to address the highlighted concern.

Success story from an early Franchise Scorecard adopter…

"Incorporating FranConnect's Franchise Scorecards had an immediate positive impact on our brand," said Tony Caballero, CFE, Senior Vice President of Operations at Walk-On's Sports Bistreaux. "This capability allowed the team to compare the business in a new light by pulling together data from previously disparate systems and boiling it down into a concise view of performance based on our KPIs. The feedback from our field teams and franchisees has been overwhelmingly positive as they see it as a valuable resource. If used as it is intended any business can benefit from this platform."

Franchise Scorecards are the first of several operations-focused enhancements FranConnect will introduce this year. Used hand-in-hand with FranConnect’s Brand Consistency package, the tools made available within Performance support the ongoing coaching conversations of a modern franchisor operations team.

For more information on FranConnect’s franchise scorecards or to schedule a demo of the Operations platform visit us here:

FranConnect Performance

 

 

 

 

About the author

FranConnect

FranConnect is the leading franchise management software provider. Based on an analytics approach, only its award-winning, unified FranConnect platform engages stakeholders to grow, scale and optimize franchise systems through a connected and complete view of the business from sales to multi-unit and multi-brand performance. Over 800 brands — including 40 of the Entrepreneur’s Top 100 Global Franchises — in 18 countries count on FranConnect to successfully grow their franchise systems. FranConnect customers span all sizes, growth phases, and industries and have grown 44% faster than the broader franchising market. Backed by private-equity investor Serent Capital, FranConnect is headquartered in Herndon, Virginia, with global follow-the-sun operations.

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