Check out this blog on the Role of Technology in Franchise Businesses.
While looking at the franchise business today, it is quite hard to remember that in their initial days, franchise chains started their businesses by using cash registers, counting inventories, and even guessing the turnout for the coming month.
Every month, the new joiners have to travel to the headquarters to seek training. Things have changed nowadays, and franchises can be seen moving with the speed of technology.
Ever-changing technology has penetrated every operation, training workers, helping owners track trends, marketing to clients, learning, and generating more sales.
Technology usage will continue to move in the coming years as the space becomes more competitive and sophisticated.
Technology in Franchise Business
Check out various ways technology is helping franchise businesses in India.
No business franchise can succeed with getting affected by the digital age. However, the adoption of the newest technology does present a lot of opportunities for every industry.
Nowadays, technology has enhanced and invaded the way business is done. Also, the digital age is attracting more business possibilities for franchising.
One of the main factors for the increasing penetration of technology in franchising is the emergence of a new generation.
They are looking forward to starting their career and growing in establishing new brands. The Millennial generation is coming up with great force and driving change in businesses.
Softwares are invented daily to track inventory efficiently via mobile Bluetooth setup and can place order requests automatically for franchise owners.
In addition, technology like Machine learning also helps the owners with predictive analytics to know customers’ purchasing decisions and real-time information about customer spending habits.
Artificial intelligence is familiar to franchising, but its execution was quite slow. As a result, only a few brands show interest in investing in AI, especially in its initial years.
Nevertheless, the efficient usage of AI can help in automating a lot of tasks and learning about them at the same time.
As a result, marketers now have fewer tasks to perform manually and can dedicate their time to creating strategies.
Communicating better with your Clients
Undoubtedly technology has made it easier and more cost-effective to communicate with clients. Enterprises can succeed and earn great revenue by responding and listening to the client’s needs.
Also, franchise enterprises embrace the various modes of communication when many clients are busy spending their time reaping the rewards.
Communication modes like Social Media, Apps, Email, etc., are quite beneficial for the franchise business models and allow them to customize the messaging while retaining a unified brand presence and voice.
In addition, digital messaging allows the owners to communicate easily and quickly to their audiences for timely daily updates.
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Training is Fun
Going digital with franchise employee training is a lot of fun too. The app-based gamified training sessions keep the employees engaged and loaded with opportunities.
The training activities can be like competing in contests, leveling up, winning prizes, and climbing up the leaderboard to win among coworkers.
The franchise industry allows the chains to bring 100% turnover every year, and successful onboarding is important to ensure that clients have a great experience.
The gamification of training makes it effective and engaging for consistently bringing well-trained workers to the brand owners.
Mobiles are known as a window to the outer world, and it stands as one of the reasons why every brand should have a presence in the client’s mobile phones via mobile app.
The mobile applications allow the clients to interact with the brand’s product or services in a personalized way without the clients moving out.
Many home service brands use these apps to help them meet daily requirements. These services include a plumber on call, an electrician, a home salon, etc.
Also, these apps serve as a platform for experts from different regions to contact clients and work as per their suitability.
Mobile applications allow customers to access the brand’s products and services; in return, the brands will have the data to analyze.
Cashless and quick transactions have already penetrated the industry. POS combines various technologies, such as automated marketing and integrated accounting, for quick results.
It allows the franchisors to start evaluating the purchasing patterns and trends to know the real-time data for the shops.
These insights allow franchisors to develop great marketing strategies for generating sales.
For example, if your bar or food outlet is not making any revenue between 12-2 pm, you can offer happy hours or meals to push sales during that period.
Automated Messaging or Email Marketing
Sending clients personalized messages about the arrival of new products or any upcoming discount is more cost-effective than pasting flyers on vehicles or emailing coupons to thousands of clients.
Automated messaging and emailing have solved these issues with a click.
The email and SMS automation can even tell franchise patrons about the updates of their reservations, can ask survey questions, welcome new clients, promote any upcoming event and run a flash sale when the owner is looking for quick cash.
While onboarding new franchise owners, most franchises want them to fill out an agreement. Paperless forms became very easy as you can onboard via your mobile device.
New franchise owners can access the procedure from anywhere and complete it on time using auto-fill features.
Using mobile systems, these franchisees can eliminate these time-consuming procedures of filling out boring forms and focus on their business.
CRM is a very useful software for businesses. Using it, you will know about your inventory at any time.
Knowing the number of items sold ensures that every location of the brand maintains the same integrity, and the CRM plays a major role here.
With the help of the CRM program, the owners can have complete control over purchased services or items, and it will help the owners improve the daily working and operations of the brand.
Maintaining brand consistency across all franchises is important for growth as it helps attract many new franchises and clients.
It means implementing uniform procedures in managing franchise tasks like invoicing, costing, and ordering supplies.
Getting wrong about any elements will affect the cost, service quality, and customer experience. Technological advances made via cloud computing and mobile systems can bring uniformity.
The technology is a standardized procedure for sharing and collecting key information for all franchise networks.
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Role of Technology in Franchise Business – Conclusion
Best franchise businesses will avail the opportunity being provided by the technology driven programs.
As it helps in providing local intelligence and also enables strong client relationships via personalized interactions.