For Franchisors & Franchisees

Fran Metrics Blog

 
Archive by category: FranchisorsReturn
August 2021
It's not enough to have a profitable business model to get your franchisees to feel paying you your royalties is a fair deal for them. At first, the excitement of opening a business and the initial support can temporarily mask issues that may arrive in the future.
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If you are a franchisor, you sometimes may feel overwhelmed by keeping track not only of your own numbers, but the numbers of your franchisee locations as well. Whether there are 3 or 300 locations, it's important to know how each unit is performing and what their strengths and weaknesses are.
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Benchmarking is a total necessity for franchise organizations that want to grow while focusing on unit-level economics. Besides looking to industry standards, a franchised company can find the best results doing internal benchmarking by all units to see system-wide averages and set goals for underperforming franchisees.
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With these simple steps, not only will you have a more successful franchise system, but you and your franchisees should enjoy what you do!
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What does the revolution of cloud computing have to do with your FDD and Franchise Agreement? Probably nothing if you haven't updated your FDD and franchise agreement concerning how you collect data from your franchisees in over a decade, which may be an issue
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In many cases, a franchisee-delivered profit and loss statement can be useless for both franchisees and franchisors. Why?
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Listen to the latest Franchise Marketing Podcast interview with Jason McReynolds, founder of Fran Metrics, as he discusses how to set and choose KPI's for #franchisee success.
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