{"id":280004,"date":"2024-01-22T01:07:29","date_gmt":"2024-01-22T01:07:29","guid":{"rendered":"https:\/\/www.franconnect.com\/?p=280004"},"modified":"2024-05-15T21:13:30","modified_gmt":"2024-05-15T21:13:30","slug":"sample-objectives-and-key-results-okr-for-automotive-franchises","status":"publish","type":"post","link":"https:\/\/www.franconnect.com\/en_au\/sample-objectives-and-key-results-okr-for-automotive-franchises\/","title":{"rendered":"Automotive Franchises: Sample Objectives and Key Results (OKR)"},"content":{"rendered":"<p>Automotive franchises make a significant impact on the economy. According to <a href=\"https:\/\/www.ibisworld.com\/united-states\/market-research-reports\/auto-mechanics-industry\/\" target=\"_blank\" rel=\"noopener\">IBISWorld<\/a>, there are 263,000 auto mechanic businesses running in the U.S., with industry employment counting over 500,000. Although the changing landscape is affecting these businesses, they are still making a meaningful contribution to the economy.<\/p>\n<p><!--more--><\/p>\n<h2>OKRs For Automotive Franchises<\/h2>\n<h5><span style=\"font-weight: bold;\">Objective:<\/span> Increase franchisee revenue.<\/h5>\n<p><strong><span style=\"font-size: 16px;\">KRs:<\/span><\/strong><\/p>\n<ul>\n<li>Have a customer acquisition rate of 25% (new customers\/total customers).<\/li>\n<li>Have a quote capture rate of over 70% (total sales\/total quotes).<\/li>\n<li>Increase leads from online sources by 25%.<\/li>\n<li>Get a conversion rate from service texting reminders of 20%.<\/li>\n<\/ul>\n<p><span style=\"font-size: 16px;\"><strong>Initiatives:<\/strong><\/span><\/p>\n<ul>\n<li>Launch campaign with current happy customers to get more reviews.<\/li>\n<li>Enhance texting reminder campaign using new vendor.<\/li>\n<li>Have home office sales coach talk to Service Manager about best practices.<\/li>\n<li>Review quote capture rate on monthly FranConnect scorecard.<\/li>\n<\/ul>\n<h5><span style=\"font-weight: bold;\">Objective:<\/span> Increase franchisee efficiency.<\/h5>\n<p><span style=\"font-size: 16px;\"><strong>KRs:<\/strong><\/span><\/p>\n<ul>\n<li>Have a productivity ratio of over 80% (hours clocked\/hours available).<\/li>\n<li>Decrease parts supplier costs by 10%.<\/li>\n<li>Reduce marketing costs by 20%.<\/li>\n<li>Reduce staff costs by 15%.<\/li>\n<\/ul>\n<p><span style=\"font-size: 16px;\"><strong>Initiatives:<\/strong><\/span><\/p>\n<ul>\n<li>Hire junior technicians at a lower rate to pick parts so senior technicians save time.<\/li>\n<li>Reorganize the shop to improve technician workflow.<\/li>\n<li>Review productivity ratio on monthly FranConnect scorecard.<\/li>\n<li>Review marketing spending by lead source and eliminate ones with high Cost Per Lead (CPL).<\/li>\n<\/ul>\n<h5><span style=\"font-weight: bold;\">Objective:<\/span> Delight customers.<\/h5>\n<p><span style=\"font-size: 16px;\"><strong>KRs:<\/strong><\/span><\/p>\n<ul>\n<li>Reduce cycle time by 10% (measured through Point of Sale from drop-off to delivery).<\/li>\n<li>Have a Customer Satisfaction (CSAT) score of 75%.<\/li>\n<li>Have 50% of customers come back for repeat business within one year.<\/li>\n<li>Have Employee Satisfaction Score of 60% (happy employees lead to happy customers).<\/li>\n<\/ul>\n<p><strong><span style=\"font-size: 16px;\">Initiatives:<\/span><\/strong><\/p>\n<ul>\n<li>Have two \u201cFamily Days\u201d with staff per year (summer and holidays)<\/li>\n<li>Eliminate the vendors with the slowest parts delivery record.<\/li>\n<li>Send text reminders for service.<\/li>\n<li>Conduct a self-audit<\/li>\n<\/ul>\n<p>Hopefully these sample objectives and key results have helped you out. Do you want to take it a step further? Learn more about strategy and automotive franchises by checking out the following:<\/p>\n<p style=\"padding-left: 40px;\">About <a href=\"https:\/\/www.franconnect.com\/en_au\/objectives-and-key-results-okr-in-franchising\/\" target=\"_blank\" rel=\"noopener\">Objectives and Key Results in Franchising<\/a><br \/>\nHow to be a <a href=\"https:\/\/www.franconnect.com\/en_au\/how-to-be-a-collaborative-franchise-coach\/\" target=\"_blank\" rel=\"noopener\">Collaborative Franchise Business Coach (FBC)<\/a><\/p>\n<p><center><a class=\"maxbutton-3 maxbutton maxbutton-contact-us\" href=\"https:\/\/www.franconnect.com\/en_au\/contact-us\/\"><span class='mb-text'>Contact Us<\/span><\/a><\/center><\/p>","protected":false},"excerpt":{"rendered":"<p>If you&#8217;re an automotive franchise you may want to consider tracking these objectives and key results (OKRs). Check out the list of potential OKRs here!<\/p>","protected":false},"author":17,"featured_media":282962,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"inline_featured_image":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[106],"tags":[59,45,44],"class_list":["post-280004","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-franchising-best-practices","tag-franchise-development","tag-franchise-marketing","tag-franchise-operations"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.franconnect.com\/en_au\/wp-json\/wp\/v2\/posts\/280004","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.franconnect.com\/en_au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.franconnect.com\/en_au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.franconnect.com\/en_au\/wp-json\/wp\/v2\/users\/17"}],"replies":[{"embeddable":true,"href":"https:\/\/www.franconnect.com\/en_au\/wp-json\/wp\/v2\/comments?post=280004"}],"version-history":[{"count":6,"href":"https:\/\/www.franconnect.com\/en_au\/wp-json\/wp\/v2\/posts\/280004\/revisions"}],"predecessor-version":[{"id":284937,"href":"https:\/\/www.franconnect.com\/en_au\/wp-json\/wp\/v2\/posts\/280004\/revisions\/284937"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.franconnect.com\/en_au\/wp-json\/wp\/v2\/media\/282962"}],"wp:attachment":[{"href":"https:\/\/www.franconnect.com\/en_au\/wp-json\/wp\/v2\/media?parent=280004"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.franconnect.com\/en_au\/wp-json\/wp\/v2\/categories?post=280004"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.franconnect.com\/en_au\/wp-json\/wp\/v2\/tags?post=280004"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}