Franchising has become even better with new technology. In the past few years, more people have become franchise owners because of all the tech improvements in different industries.
The most significant change recently? Technology helps save time so that the business can grow, and the franchise owner can have more flexible hours. This means they can work part-time.
Before, running a franchise meant working full-time. Depending on the type of business, it might still be the case, but technology has made some tasks faster for service-based franchises. Now, the franchise owner doesn’t have to be an expert in everything because tech has made some jobs more accessible. The best part is that the owner only pays for a small part of an extensive tech system that local competitors can’t match.
Let’s explore various vital areas where technology has changed how people own and run franchises.
Keeping good employees is essential for your business. In the past, tasks like calculating pay, making schedules, and doing paperwork for new hires took a lot of time. But now, special computer programs can do these tasks quickly, saving time and money. This means you don’t have to hire people to do these jobs. You have more time to devote to other things as a result.
Making Services More Profitable
As the people who use your services change, how can you still be efficient? Think about the GPS on your phone. If there’s a problem on your route, the GPS finds a better way without you having to figure it out.
Technology works the same way for franchise owners, making things more efficient. For example, a company that cleans homes uses AI (artificial intelligence) to plan the best route for their cleaning teams. This reduces the time spent driving and makes more money for every hour they work.
Getting Customers and Making Money:
To make money, business owners need good ways to let people know about their services. For franchises, this is easier because the company has already studied the whole country to figure out the best way to advertise. This means the money spent on advertising is used wisely because they know what works for your franchise.
Once people are interested because of the ads, automatic systems and special computer programs make sure customers have a good experience. For example, think about when you book a hair appointment. You might get a text confirming the appointment, another reminder a few days before, and even a thank-you text after. All this happens automatically, making things easier for the hair salon.
Apart from the tools we talked about earlier for advertising and making customers happy, there are more tech tools to help with specific needs. Take “visualizers” for example. If you want to buy a couch or get new glasses, these tools use pictures or videos to show you how the product will look in your space.
Another example is when a professional team comes to your home for services like plumbing or painting. Every detail, from scheduling the appointment to getting a price quote, is recorded. During their visit, if they give you a sales presentation, the computer program tracks how long they spend on each part, how fast they move through it, and if they make the sale or not. All this info goes back to the leading company, helping them make the sales process better for your team.
When you have to make big decisions for your business, having the correct financial info is crucial. In a franchise, they use special tools like dashboards and analytics to show financial data. These tools are the same for everyone in the franchise, making it easy to compare and manage every part of the business.
Let’s say you need to pick a location for your store or you want to understand what customers like by studying their habits. You may be growing and need to figure out how to expand. Because everyone in the franchise uses the same tools, you can get real-time info and compare it with others. This helps you make big decisions that can change your business and also small decisions to make things better.
In the end, thanks to technology, franchising has become much better. From managing employees, making more money, getting customers, and selling stuff to making intelligent decisions, tech has made it easier for people to own businesses with fewer problems than if they were on their own.