Tag Archives: franchise

Track Your Franchisees’ Days to First Dollar

 

Business plan

Most franchisors are unable to accurately track the amount of time it takes for a franchisee to generate revenue after they first enter the business. All franchisees operate on different levels, therefore, it is difficult to have an exact estimation of the number of days to first dollar. Such information can help gain a thorough understanding of the new franchisees’ productivity and progress, as well as take the necessary steps to expedite the process to start collecting revenue sooner.

Using a proper software solution can not only help determine that time period, but also help shorten your franchisees’ days to first dollar.  Some technical best practices to help facilitate this include:

  • Standardizing and centralizing all data across a common network so that it becomes easily accessible by all related individuals.
  • Using a system that facilitates the search of any overdue tasks, while allowing for the reporting of variances that fall outside of the minimum/maximum date range for a given task.
  • Ensuring the identification of “critical path” activities, or important tasks that need to be completed during the onboarding process. If any such task out is left out or delayed, it will delay the entire on-boarding process, thus delaying the franchisee opening.
  • Utilizing cloud based technology to ease and expedite collaboration and coordination.
  • Requiring your franchisee to participate in an early review process, so they may identify the areas of major difficulties.
  • Using a tool like FranConnect’s Franchise Opener to optimize all aspects of the opening process for the franchisees- with a task-based workflow system, red flag alert notifications for any missed deadlines, a document tracker, and an equipment ordering manager.

On-boarding a new franchisee, when not managed correctly, can be a time-consuming process delays the time it takes for the franchisee to begin generating revenue. FranConnect’s Franchise Opener system will reduce the cycle time of onboarding new franchisees through its collaboration, data collection, and auto-notification capabilities. This system will result in improved time management and reduce the first revenue generation time for the franchisees by 30%.

Franchising Challenges

Execution is key to ever0a6ec6cb-4ad9-4a5b-bc77-d402ffa0db0fy businesses, and franchises are no different. Consistent execution can strengthen a franchise and result in increased franchisee performance and overall success of the business. To implement effective executions, franchisors and CEOs must first evaluate how every step of the business is executed and then decide upon challenges faced by their everyday operations.

So what are some of franchisors’ biggest challenges?

  • Many feel that their franchisees’ ability to execute is sub-par to their competition.
  • More franchisees to an operations consultant does not increase revenues or improve profits
  • Face to face time with franchisees is decreasing
  • Follow-up systems are ineffective
  • Many franchisees can’t put together a decent business plan.

41% of franchise CEOs said that they are unable to positively impact franchisee performance.  The traditional hierarchy of communications is changing at a rapid rate, and few organizations have put the necessary systems in place that will allow for timely reinforcement of expectations and standards often being performed in a virtual environments.

To begin addressing some of the issues and to attain optimum performance from franchisees, senior management needs to constantly reinforce standards and technology and have a plan in place to measure how well franchisees are executing on all levels: from their business and marketing plans, to brand compliance, to utilization of point-of-purchase initiatives, and assessments of quality, service and hospitality.

To learn more about overcoming challenges most commonly faced by franchisors, stay tuned to our blog for posts on best practices in franchise operations, performance, and more.

FranConnect® Supports Taco John’s As Brand Takes Growth to Next Level

Franchise Solution Provider Helps Mexican Quick Service Chain Improve Efficiency to Expand

Reston, Va. – Since upgrading its existing franchise system technology by partnering with FranConnect in 2008, Taco John’s has enjoyed the effectiveness, customizability and ease of use offered by FranConnect’s groundbreaking software. Now, as the Mexican quick service chain looks forward to accelerating the growth of its more than 400-unit franchise, Taco John’s is relying on the leading solution providers’ assistance in managing its system lifecycle.

Taco John’s initially partnered with FranConnect to take advantage of the solution provider’s Franchise Information Module. As the brand continued its growth trajectory, team members saw a need for easily accessing crucial franchise system information in one platform. With the hope of revamping the brand, Taco John’s needed reliable software to improve efficiency and support their growth goals. Impressed by FranConnect’s technology, the franchise has upgraded its system by adopting Franchise Sales and PerformanceWise™ this year. Since employing PerformanceWise™ based on the advice of the brand’s Software Applications Specialist, Susan Muth, Taco John’s was able to save close to $60,000 that would have been spent on a competitor’s pricier system. The brand has also benefited from improved efficiency in its franchise Brand Execution Reviews. Having previously hired an outside company to complete the task with minimal return, Taco John’s representatives can now instantly and proficiently access and input all types of information in one place by working with FranConnect. “We recently welcomed a new President as well as a Vice President of Development at Taco John’s, so we started looking for software to assist in a smooth transition for our new executives,” Muth said. “For instance, the franchise sales module has helped our Vice President of Development ensure potential franchisees are easily targeted to support our brand’s growth.” FranConnect is a thought leader that produces integrated franchise solutions while advising on how to implement best practices and create efficiencies that yield cost savings. FranConnect supports franchisors across the entire franchisee lifecycle with a comprehensive solution that includes Captivate®, its franchise sales recruitment solution; franchise onboarding; franchise information management; PerformanceWise™, a franchisee performance and operations consultant improvement solution; financial data collection; royalty management; FranBuzz, a franchisee social network; franchisee intranet; online training; online help desk; and Zcubator™, an all-in-one franchisee marketing solution. “We really enjoy the customizability of FranConnect’s software,” Muth said. “We are able to ensure all our corporate and field staff members who use the software have easy access to important information vital to the growth of our brand.” More than 500 franchise brands benefit from FranConnect’s extensive knowledge of franchise technology and solutions ranging from data collection, information analysis, marketing automation, franchise management, and increasing franchisee engagement, to name a few. “The FranConnect Management System, along with our comprehensive application toolkit, allows us to address our clients’ most pressing issues including franchisee engagement, driving growth, improving franchisee profitability, solidifying relationships and streamlining workflow,” FranConnect CEO and Founder, Amit Pamecha said. “Our years of working with and learning from franchisors has yielded the integration of best practices into our products. This allows our team to quickly identify our clients’ specific needs, and then seamlessly integrate solutions that can provide ROI right out of the gate. We are proud to have been given the opportunity to help improve Taco John’s franchise operations, maximize their internal efficiencies, and aiding them with creating powerful benchmarking and dashboards to improve their franchisee performance.” About Taco John’s® Taco John’s® operates and franchises over 400 quick-service restaurants in 25 states. Privately owned, the business opened its first restaurant in 1969 in Cheyenne. Taco John’s prides itself on serving generous portions, menu items prepared fresh to your order, high quality ingredients and special recipes, seasonings and sauces. About FranConnect, Inc. FranConnect is the leading provider of Franchise Management Systems, with more than 500 brands and 75,000+ franchise locations – using the company’s comprehensive solutions to establish, grow, and manage their franchise operations. FranConnect’s integrated suite of applications allows franchisors to manage all aspects of operations, including Franchise Sales, Marketing, Financial Data Collection and Analysis, Royalty Invoicing and Automated Funds Transfer, Contract and Legal Document Management, Customer Relationship Management, Help Desk, Franchisee Support, Online Training, Supply Management, Marketing Automation, Email Marketing, Franchisee Websites, PPC and Adword Management, Social Media Management, POS Integration, franchisee onboarding, and more. For more information, visit www.franconnect.com, www.mycaptivate.com, and www.Zcubator.com.

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Webinar: Impact of Affordable Care Act on Franchisees

With some requirements of the Affordable Care Act  (commonly known as “ObamaCare”) starting to phase in, there’s considerable confusion about what is required, by whom and when!  A special webinar, just for the franchise professionals, is taking place July 31 and will provide some answers as to what lays ahead.

Produced by HR.com, the webcast is catered to franchisors, franchisees and their HR executive or benefits counterparts, executive management, finance managers and CFOs.  The presenter, Peter Marathas, works with some of the largest and most recognized franchise brands across the country.

Full description and registration can be found here!

Note: This promotion is provided for information purposes only, as it is an event of interest to the franchise industry. FranConnect, Inc. is not the producer of this webinar, nor responsible for the content to be conveyed.

FranConnect Expands Leadership Team with Seasoned Franchise Veterans

Reston, Va. – Amit Pamecha, CEO and Founder of FranConnect, announced today the addition of three experienced franchise industry professionals to its growing executive team in Reston, Va. The world’s largest technology supplier to franchise systems, FranConnect provides comprehensive applications tailored to solve a host of franchise needs, including franchise development, marketing, performance and royalty management,operations and more.

Joining the FranConnect team is new Director of Training Keith Lovell, VP of Business Development Scott Thompson, and Business Development Manager Julie Nelson-Dennison. A former franchisee and regional franchise director of Wireless Zone, a Verizon Wireless premium retailer, Lovell comes to FranConnect with deep roots in the franchise space. Thompson, who will focus on further increasing FranConnect’s client base, is a former executive vice president of Desjoyaux Pools, LLC and owner of multiple Fitness Together franchise locations. Nelson-Dennison is the former vice president of business development and franchise solutions at PrintingForLess.com.

“FranConnect is poised for tremendous growth over the coming years, and as we continue to perfect our business model and expand our service offerings, we’ll continue to grow with experienced industry professionals who truly understand the unique needs of both franchisors and franchisees,” said Pamecha. “While every one of our franchise clients has unique challenges, each of our new team members brings extensive experience and an insider’s perspective to the company.”

FranConnect’s addition of Lovell, Thompson and Nelson-Dennison continues a company-wide trend of recruiting top-notch franchise professionals. In March 2012, FranConnect appointed Keith Gerson as its President of Global Operations after a 30-year career working various positions in the franchise sector.In August 2012, FranConnect hired former President and CEO of HouseMaster Home Inspections, Kathleen Kuhn, as the new VP of Franchise Marketing Solutions.

Pamecha’s announcement also comes on the heels of a banner company year where FranConnect grew its customer base to more than 450 franchise brands. Moreover, the company has enjoyed 20-30 percent increase in its customer base each year for the last eight years.

About FranConnect, Inc.
FranConnect is the leading provider of Franchise Management Systems as more than 450 brands use the company’s comprehensive systems to establish, grow and manage their franchise operations. FranConnect’s integrated suite of applications allows franchisors to manage all aspects of their operations including Franchise Sales, Marketing, Financial Data Collection and Analysis, Royalty Invoicing and Automated Funds Transfer, Contract and Legal Document Management, Customer Relationship Management, Help Desk, Franchisee Support, Online Training, Supply Management, Automated Ad-Builder, E-mail Marketing, Franchisee Websites, ZIP Code Locator Service, QuickBooks, Peachtree and POS Integration. For more information, visit http://www.franconnect.com

Media Contact:
Monica Rutkowski
Fishman Public Relations
847-945-1300
mrutkowski@fishmanpr.com