The business realm is broad, offering entrepreneurs various ways to build and operate a successful enterprise.
One way entrepreneurs can meet success is by franchising an existing brand. Operating a franchise presents a distinct set of advantages and challenges when compared to running a completely new brand.
For one, franchisees have the guidance and operating procedures of the parent company, granting them step-by-step insights into the best way to deliver an exceptional product or service offering.
The drawback of franchising is that it also often comes with a set of strict rules and guidelines that must be followed to maintain brand consistency.
Balancing these aspects requires a careful approach to ensure adherence to the parent brand and profitable operations. To meet these standards, franchisees often prioritise finding and using the right tools.
What are these tools, you may wonder. We got you. This article will look into eight tools that can help franchisees succeed in the business world.
Let’s jump straight into it.
1) POS System
Every franchise business would benefit from having a point-of-sale system. This machine logs sales and processes payments, making it a pivotal tool for processing customer transactions.
While this system may seem similar to standard cash registers, POS systems have distinct characteristics that set them apart.
For one, modern POS systems go above and beyond simple transaction logging. It can also be integrated with other systems, allowing the tracking of inventory and logging of sales data to create a more efficient inventory management system.
It can be integrated into a whole host of other business tools, such as accounting software, CRM systems, and loyalty programs. It can even be completely computer-operated, removing the need for a human handler to facilitate the transaction process, thereby reducing human labour costs.
In short, the presence of a POS system allows for the streamlining of multiple operations into one system, which can help you drive business growth more seamlessly.
2) Storage Containers
If you’re franchising a food business, maintaining proper hygiene standards is crucial. Delivering subpar-quality food can tarnish your reputation in the eyes of the franchisor, which can sever your relationship and may even cause them to pull out from the deal.
Moreover, it can also amplify the negative buzz of your restaurant’s food and deter present and future customers from eating at your restaurant. This can lead to reduced revenue, which can lead to the eventual shutdown of your company.
Having said that, it’s essential to serve the best quality food by any means necessary. One way to keep your inventory from spoiling is by properly storing them in sealed and temperature-controlled areas.
In most cases, having a working fridge and a temperature-adjusted pantry in the store can suffice.
However, if you have perishable ingredients that need to be properly temperature-controlled, you can consider putting them in specially warmed or cooled temperature-adjustable containers with StoreMasta.
With proper containers, you can ensure that your produce and inventory remain in top condition prior to serving it to customers. This preserves your franchisor’s brand identity and keeps your business in operation, which is crucial for long-term success in the franchising world.
3) Employee Scheduling Software
Another important tool for franchisees is employee scheduling software. This software helps managers easily manage and visualise employee timetables, ensuring the continuity of operations and minimising staff schedule conflicts.
Scheduling software doesn’t only help with timetable visualisation, it also comes with useful features like shift swapping, time-off requests, and automatic schedule generation. It can help you and your staff see an overview of who’s handling shifts at certain periods, removing confusion and chaos and contributing to smoother business operations.
At the end of the day, running a franchise effectively also entails a happy workforce. With proper scheduling software, you can provide organisation to your operations and improve workforce productivity, which can help give your franchise a good shot at succeeding in the business world.
4) Packaging Materials
In the same vein as storage containers, your product needs to have the appropriate packaging.
Packaging has multiple purposes across various industries, providing convenience to customers when handling, safeguarding contents and their temperature, and acting as a potential marketing material if it comes printed with a brand.
There are multiple types of packaging you can consider for your franchise, with each having its own set of pros and cons. The most cost-effective option is plastic bags, providing an easy and versatile packaging form for various goods. You can also opt for corrugated boxes, paper bags, and other forms of biodegradable packaging if you want to follow a more sustainable route.
Of course, it’s necessary to consult with your primary franchisor to know whether you can use your own set of packaging or if they have standard ones. If they have specific packaging guidelines, then it’s in your best interest to follow them closely.
By investing in the right packaging, you can set your franchise up for future success more easily. So don’t underestimate the power of effective packaging.
5) Marketing Software
While the franchisor will help set up some operational manuals for you to successfully jumpstart your business, marketing efforts will be something you’ll have to deal with on your own.
While the brand name can be enough to give you some walk-in customers, there’s a plethora of ways you can market the brand even more effectively. One such way is by using marketing software.
The right marketing software can help you boost your digital presence in social media, email, and search engines—allowing you to automate and optimise various marketing tasks with ease.
For instance, the right social media marketing software can help you schedule and manage a database of social media accounts, helping you streamline your marketing efforts across different platforms in one account.
Email marketing software allows you to blast marketing emails to potential customers, helping increase brand visibility and awareness. SEO software also provides keyword research tools, website auditing tools, and the like to improve your standing in search engines and Google My Business.
In any case, utilising these marketing software can increase the traffic to your store. In turn, this can improve revenue generation—especially if your offering is superior quality, to begin with.
6) Security Systems
Another important tool for franchise owners is robust security systems. The worst thing any store owner can experience is having their physical stores and the people inside victimised or robbed.
One way to prevent that is by investing in security systems. Surveillance cameras, for instance, can help deter potential criminals from acting within the store, ensuring a safe environment for visitors and your staff.
Besides that, alarms and locks can also keep your store safe and prevent unauthorised access. It also dissuades internal theft from happening, helping keep your finances and business assets in safe hands.
In any case, it’s also important to have insurance documents on hand in case these adverse events happen anyway. Business liability insurance and contents insurance are some policies to consider.
When security systems are in place, you’re creating an environment that employees feel at ease being in. It also facilitates continuous operations, which can help you maximise your revenue potential as a business owner.
7) Quality Control Checklists
Franchisees carry the name of the franchisor, and as important as it is to look out for your business, it’s essential to adhere to the guidelines imposed by the franchisor as well.
In most cases, franchisors provide a checklist that helps provide structure to the operations. It helps the franchisee run the operations in a high-quality and uniform way, creating an experience that the customer can expect across all branches.
Quality control checklists can cover a wide range of operational functions, like safety standards, documentation, and inspection criteria. By abiding by the QC checklist, your business can operate in a quality fashion that keeps both the franchisor and the customer happy.
8) Financial Software
Another essential tool for franchisees is financial software. Just like any business model, it’s essential to have a good grasp of the company’s finances. Financial software can be an amazing tool to help franchisees run their financial operations seamlessly.
For one, this tool helps streamline various financial tasks, including budgeting, payroll processing, expense tracking, and financial reporting. It can turn hours of manual labour into mere seconds of processing, helping improve business productivity.
Furthermore, financial software like Xero can also perform the bulk of the accounting processes for your company. This helps you gain access to accurate financial reports and cash flow statements.
With the right financial software, you can be more attuned to your business’s financial wellness. This can drive better decision-making, which can be crucial for maintaining your business’s profitability.