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The Role of Technology in the Modern Franchise Business
January 13, 2023
Technology has brought about rapid changes in our lives over the past two decades or so. Imagine a time with no instant recourse to knowledge through Google, no communicating or entertaining ourselves through social media, no finding our way through map apps, in fact, no apps at all as there were no smartphones to run them on. The changes have been big for everyone, and technology for small business owners has been both a gift and a curse depending on how they adapted. For some, it’s been great. For others (like local bookshops or newspapers), it’s spelled doom.
However, for those that are still plying their trade, modern technology for business owners, including franchisors and franchisees, has become an indispensable part of how they operate. Here we’ll look at the major role technology in franchise systems and business, in general, has evolved to play in recent years.
The Role of Technology in Franchise Businesses
For those in the franchising sector, no matter what the niche, the embracing of digital technology has been critical for their survival and success. Here are the major areas where these technologies play a role.
Digital Marketing:
With so much time spent online and such a heavy reliance on the likes of Google to find what you’re looking for, being able to meet potential customers and convince them to order your good or service is critical for running a successful business. The advances in digital marketing technology in franchise operations mean that local franchise operations can benefit hugely from the national ad spend and SEO work done by the franchisor.
Cloud-Based Systems:
Moving everything to the cloud is still relatively new, but in terms of franchise tech, many systems have already been quick to harness the power of the cloud. Essentially what cloud-based systems in franchises means is that vast amounts of information (such as user manuals, training videos and proprietary software) are available on one cloud database that franchisees can access. Being cloud-hosted means that each individual franchisee doesn’t have to be sent large quantities (terabytes) of information or run programs on their own devices. Everything is run on the franchisor’s side, so they can use everything will minimum effort and space required.
Digital Reporting and Tracking:
Keeping up to date with how your business is doing is important for both individual franchisees and the franchisor overall. With improvements in technology in franchising, now both parties can easily measure and track important metrics like daily sales or piece production rates. The fact that very little input is needed into these systems, which also run analysis on the larger picture over time and in comparison with other franchisees, can give very important business insights to businesspeople on both levels.
POS Systems:
Point-of-sale (POS) systems means that even the smallest franchise operations and businesses can process card transactions using their own smart device. What once meant that small-time vendors had to call back for cash or take the risk of accepting checks has now changed to mean they can go completely cashless and process payments on the move from wherever they are.
Online Training and Support:
As well as running full software programs from cloud-based systems and collecting payments with their smartphones, digital technology in franchise operations is allowing franchisees to stay updated with training in new business systems and equipment through online video conferencing courses rather than having to take days out and maybe fly across the country to attend in person. Video calls also allow franchisees to ask questions and demonstrate the actual situation they’re facing so as to get the best support from their franchisor.
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Tips for Franchises Leveraging Technological Advances
The advantages delivered by technology in franchise systems can really push your business to another level when used correctly. Here are some of the ways to see real gains for your enterprise.
Improving Efficiency:
While every business day might seem unique with different challenges in terms of work, staffing or business decisions, over a length of time, clear patterns begin to emerge. Maybe you do more business at a certain time every day, or maybe your stock gets tighter certain days after delivery, which also coincides with the greatest demand. Tracking these metrics clearly with digital technologies can reveal actionable insights for your business that help you to improve efficiencies and cut out wasted resources.
Connecting with Your Community:
Digital technologies, especially online, allow businesses to have closer relationships with their customers than ever before. Maybe you’re an active social media user, posting pictures of completed jobs or answering common customer queries with inside knowledge, or you may share all the latest changes in your field and distill them for an audience with a regular newsletter. The use of communication and other technology in franchise systems, even to the level of loyalty programs functioning across the whole operation wherever it is in the country, means that customers feel more included and connected to your brand.
Increase Productivity:
The way you do your work can be regulated by habit. You learned to do it that way, so that’s how you keep doing it year-on-year. However, more on a franchisor level, technology in franchise situations is revealing how the ‘normal’ way might not be the best or quickest way of doing something. Modern technology can advance precision engineering within your systems or crunch millions of hours of data to find out how you can be doing something better, increasing productivity and your revenues.
Staying Competitive in Today’s Market:
Of course, one of the biggest reasons for embracing technology in franchise systems is to make sure ‘disruptive’ competitors don’t steal market share. Sitting for too long on older tech and not constantly searching for ways to improve probably means that someone else out there is doing exactly that, and that could usurp the business position the franchise has taken years to build. Innovation isn’t just for newcomers. It should be a constant investment by any company or franchise system that wants to stick around for the long term.
Embrace Technology and Franchising
Advances in technology in franchise businesses and systems have dramatically changed how those operations work over the last few decades. Along with adapting to the changes, they have also provided opportunities for franchises to improve their efficiency and advance their market position.
If you’re interested in joining a franchise that has been in the field for over four decades yet still strives to stay at the top of the market by embracing new technologies, then why not consider Screenmobile? A tried and tested product with no national competitors. Our franchise has one of the highest renewal rates of any franchise business at 99.5%. To find out more about becoming a Screenmobile franchisee, you can read more about it here or talk to our team.
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