Franchising is growing in Australia. According to IBISWorld, it can achieve a 1.2% growth from 1.2% from 2014 to 2019. Within this period, it will have an estimated revenue of more than $180 billion. For it to succeed further, however, it needs to beat some of its challenges with valuable tech solutions such as this: https://www.franchisecloudsolutions.com/.
The Uphill Climb
Franchising is a lucrative business. You can multiply your revenues several times monthly, capture a bigger market, and yet spend less on overhead and maintenance. You can already pass these types of spending to the franchisee.
It is also complex, and considering how your group can go big, it’s not unusual to encounter a lot of problems and challenges along the way. Here are some of them:
- Reporting Systems
Reports matter to you and your franchisees. They can be an excellent measure of your business health, and they can guide your team on which objectives to meet. Some franchisors don’t have these. If they do, they may be incomplete.
In some cases, the reports may be more uniform across the stores, but factors such as location can get in the way. Some of them may arrive late, a time when they’re already unusable as the data is already old.
Like any relationship, communication plays a significant role between a franchisor and a franchisee. The latter wants to make sure they can rely on the company for different kinds of support. Your business may also expect your franchisees to be engaged and participative in your growth.
Even in the advent of technology, communication can still bog down. Memos can arrive late, and franchisees may not receive the emails. There may be times when you become unreachable even by phone.
One of the secrets for franchise growth is recruitment, but it’s not a straightforward process. Your franchisees will have to go through the customers’ journey before you can convert them.
The challenge lies in keeping track of the different marketing stages. Where are your leads now? How many did you convert in the end? Who needs a follow-up?
The Cloud Solution
It takes more than technology to resolve these challenges, but it also doesn’t reduce the fact tech can help. Take, for example, the cloud such as this: Franchise Cloud Solutions.
The concept of the cloud is simple. The tools you need so you and your franchisees can run the business are all accessible online. As long as all of you have the Internet, then, you can use them no matter where you are in the world.
Even better, cloud systems can provide real-time data. This can help reduce issues such as redundancy, inaccuracy, and reliability of the information.
It can also promote teamwork and collaboration between the franchisor the franchisee, and this can help boost the level of trust and credibility of the organization.
You can learn more about how it works on this website: https://www.franchisecloudsolutions.com/. The bottom line is the cloud is the support you need to fill in the gaps and loopholes that are common in franchising.
It lessens the learning curve for the franchisees while franchisors can manage their team more effectively.