How Franchise Business Review Helps C-Suite and Executive Teams
As a leader of your franchise system, there are so many things that can keep you up at night. How do you increase revenue and profits? Build brand awareness? Grow your system? Create a positive corporate culture?
Franchise Business Review provides franchise executive teams with actionable, human-centric data and insights to build a stronger, more profitable business.
KEY CHALLENGES FACING FRANCHISE LEADERS
You know all too well that franchise leaders face complex challenges that impact the health and success of their systems. But what many leaders don’t realize is that the satisfaction and engagement of the people in your system is the leading indicator of long-term franchise system health.
Building Brand Awareness
In a crowded market, a recognizable and trusted brand is crucial for attracting both customers and franchisees. Franchisees rely on the strength of your brand recognition and reputation as the foundation for their success, making a solid franchise marketing strategy critical to keeping your existing network satisfied and profitable as well as growing your system.
Cultivating a Positive Corporate Culture
Despite its importance, organizational culture is frequently overlooked by leadership. A strong, supportive culture improves employee engagement, retention, and overall system performance. A lack of alignment between corporate leadership, corporate staff, and franchisees can lead to disengagement, staff turnover, and operational inefficiencies.
Revenue and Profitability Growth
Franchisee profitability and satisfaction is the foundation of any successful franchise growth strategy. Franchisees who are happy and profitable are more likely to expand, and a system full of satisfied and successful franchisees is more likely to attract new owners. The challenge for franchise leaders is knowing which franchisee support initiatives will make the greatest impact on enhancing revenue and growth, while managing operational costs.
Scaling and Growing Your Franchise System
Most franchises are in the business to bring more franchisees on board and add more units. But without the proper operational systems in place to keep up with your franchise development strategy, you jeopardize performance and franchisee validation.
THE ROLE OF DATA IN INFORMED DECISION-MAKING FOR FRANCHISE SYSTEMS
Aligning Cross-Functional Teams with Data-Driven Insights
FBR’s research gives you the qualitative and quantitative data you need to align all of your teams – operations, development, HR, finance, marketing – on company objectives and help every department measure the impact of their contributions on the overall success of the organization.
Setting Priorities and KPIs with Real Data
Going with your gut doesn’t cut it when you’re trying to grow and maintain a profitable business. Using real data gathered from the people who know your system best—franchisees and employees—franchise leaders can make evidence-based decisions to set priorities and KPIs that will have the greatest impact on franchise performance.
BENEFITS OF FBR’S SATISFACTION & ENGAGEMENT RESEARCH FOR FRANCHISE SYSTEMS
Set Business Priorities and KPIs
Integrate feedback and data into your annual leadership planning to determine strategic priorities and use your FBR scores as key performance metrics to hold teams accountable.
Improve Overall Performance and Long-Term Health
Measure and track franchisee and employee satisfaction in one platform to see year-over-year trends and pinpoint hidden opportunities and challenges that impact the health of your system.
Identify and Address Areas for Improvement
Easily filter data to quickly identify areas where your system is thriving and where you need to take action using FBR’s interactive, online reporting dashboard.
Track ROI and Measure Success
Create a consistent feedback loop to track buy-in and monitor effectiveness of new initiatives to identify where to align financial resources with strategic objectives to make the greatest impact.
READY TO EMPOWER YOUR FRANCHISE ORGANIZATION WITH YOUR SURVEY DATA?
The people in your system hold the key to unlocking even greater success. Franchise Business Review’s suite of solutions, coupled with the knowledge and experience of our team, will help you gather insights and use them in meaningful ways to make data-driven decisions to achieve your strategic goals.
