What is Franchise Management?
Franchising is a popular retail business model that allows the franchisee to use the brand name and business model based on agreed terms.
Great franchise management is the key to expanding your business in new markets and locations. A franchisor would have to provide meaningful support in all aspects of the business including sales and marketing, inventory management as well as employee training.
This is because it is much more profitable to retain healthy franchisees with good performance than to constantly seek out new partners.
What is a Franchise Management Software?
Due to the multiple parties involved across various regions, time zones and languages, it can be hard for an owner to manage a franchise effectively and efficiently.
A franchise management software provides business owners with a clear overview of his business to facilitate better and faster decision making, to maximise profits and keep his franchisees healthy.
Why do you need a Franchise Management Software?
A franchise management software facilitates collaboration and engagement between business owners and franchisees. This helps to improve your awareness and control of all aspects of the business from marketing and sales, to branding and customer relationship management (CRM).
Apart from inventory and outlet performance, it also provides you with accurate real-time financial data to help you simplify the reporting process. These conveniences save you time and resources that could be used to grow your business and take on more franchisees.
You can also pair it with a performance management system to further help you manage and meet business goals and KPIs. You’ll be able to review achievements and highlight possible improvements quickly with your team.
Must-have Features of a Franchise Management Software
Real-time Inventory Data
Access to real-time inventory data ensures purchase orders and stock replenishment are done on time. Businesses will be able to make better decisions through risk forecasting.
Integrated Customer Management
A good franchise management software integrates all aspects of customer management including customer registration and loyalty programs. Combined with the ability to instantly retrieve inventory details, you’ll be better prepared to address and retain customers.
Process and Operation Management
This allows you tighter control over the processes and operations of each outlet. Through performance tracking, you can ensure each outlet meets your required standard.
Reporting and Audit Tool
One of the biggest conveniences a good franchise software offers is the ability to monitor and extract financial and non-financial data quickly. You’ll be able to save lots of time working on reports.
Employee Management
A good software can help you get a new franchisee on-board immediately. It guides them through each phase in a detailed, systematic and repeatable fashion. Some even allow uploading of training documents and videos in addition to tracking employee attendance and performance.
Best Franchise Management Software in 2020
There are many franchise management software available for you to choose from.
Therefore, we’ve broken down some of the most popular ones out there, so your team can make an informed decision.
Tree AMS Franchise Management System
Tree AMS franchise management system is specially designed to help franchise owners from all sectors manage their businesses. By combining the power of multiple business management tools, you can track and manage all types of metrics with a few simple clicks on a single platform.
You can even customise your dashboard for faster access to key information needed frequently for your business.
Key features:
- Sales and EBITDA presentation
- SOP manager
- Franchisee on-boarding tool
- Reporting and audit tool
- Benchmarking and KPI capabilities
- Training and assessment tool
Suitable for: All types of businesses
Pros:
- Great support team
- Clear and detailed information readily available
Cons:
- Not as well-known globally
LivePOS
Created in 2006, LivePOS is a Windows-based Point-of-Sales (POS) System for the retail industry that syncs data back to the cloud. It works on Windows computers as well as mobile tablets.
Key features:
- Real-time inventory tracking
- Live video feed from any location
- Ability to accept payments when internet is down
- Shopify integration for online sales
- Vendor access control
Suitable for: Medium and large retail businesses
Pros:
- Impressive number of features
Cons:
- High price
- Runs only on Windows (does not support iOS / Mac OS)
- Interface is outdated and not intuitive
- Slower than other systems in this list
- Only suitable for retail businesses
Revel Systems
Revel Systems is a popular and powerful franchise management system best suited for larger restaurants with multiple locations. This highly flexible iPad-based system also allows you to add countless functions such as touchscreen kiosks and delivery management.
Key features:
- Restaurant specific software packages
- Intelligent and in-depth enterprise level reporting
- Ability to process high volume of sales
- Open API architecture
Suitable for: Restaurants and other quick-serve F&B businesses
Pros:
- Highly customisable
- Fast and powerful system
Cons:
- Complicated to set up
- Occasional glitches
Franpos
Previously known as iConnect, Franpos is mostly used by retail franchises. Due to its affordable pricing, high scalability and features such as appointment bookings, it is also used by quick service, beauty and wellness franchises.
It gives businesses lots of flexibility as it is compatible with iOS, Android and Windows tablets.
Key features:
- Stock transfer feature
- Extensive employee management
- Kiosk and self-checkout options
- Gift card support
Suitable for: Retail, quick service and beauty businesses
Pros:
- Responsive and helpful customer service
- Easy to learn and set-up
Cons:
- Interface does not work consistently
- Cannot process payment offline
Zoho Creator
Zoho Creator makes building databases and creating reports straightforward and easy thanks to their drag-and-drop interface. Suitable for standalone stores and retail chains, you’ll be able to add all types of functions and access data from any Apple or Android device.
Key features:
- Inventory status notifications
- Employee performance tracking
- Automated shift planning and payroll processing
- Integrated POS system
- Accounting automation
Suitable for: All types of businesses
Pros:
- Powerful and diverse applications
- Affordable and flexible pricing plans
Cons:
- Closed sourced, proprietary programming
- Unresponsive customer service
- Additional functions cost more
Grow Your Business Easily with a Franchise Management Software
Managing franchises does not have to be time consuming. With the right tools and excellent support, you’ll be able to better focus on growing your business!
