Regardless of whether you operate a small or a large business, one of the key signs of success for many business owners is growth. When you reach a certain level of success, you will want to evolve your business to take it to the next level or you will need to start spreading your wings by opening new locations. Beginning a franchise is a popular option for business owners who can no longer meet the ever-growing demands of their customers. In addition to this, opening franchises in multiple locations also allow you to reach new customer bases, bolster your brand and extend the reach of your operations.
While opening multiple franchise locations is certainly a positive step for any business owner to take, there are some challenges that you will need to overcome. Staying organised and on track can be challenging when you are running a business that is in different locations but with the right approach, there’s no reason that you can’t stay in complete control of everything that is going on. Nowadays, there is a range of different tech tools and software solutions that business owners can use to ensure that everything runs smoothly, no matter how many different franchises you might be operating. With the right systems in place, you can be sure that you keep your business organised and on track moving forward.
Let’s take a look at just some of the tech tools you can use to keep your multi-franchise business running smoothly.
Staff Management Software
When you are running a business in multiple locations, it goes without saying that you will need a larger team to assist you. Ensuring you have enough staff on shift at each location to meet the needs of your customers can be very challenging. However, using a simple timesheet app, you can easily keep track of how many employees you have rostered at each of your locations. Creating multiple rotas for each of your franchise locations can be difficult and time-consuming. However, using these staff management software solutions, you can automate a lot of this process, use historical data to create your new rotas and ensure that you always have enough staff available to keep all of your franchises running smoothly.
Financial Management Tools
Financial management is key to the success of any business. Understanding how much money is coming and going is key to the success of your company both in the short and the long term. Nowadays, there are countless different account and payroll tools that you can use to keep track of your business finances. Many of these tools will integrate directly with the ATO’s systems ensuring that your reporting obligations are always met. What’s more, you can also save a lot of money using these tools compared with hiring an in-house accounting team or even outsourcing your financial management to a third-party provider. There are many different tools to choose from that offer a range of different functionalities so be sure to do some research to ensure you choose the right solution for the specific needs of your business.
Inventory Management Solutions
If you sell physical products at each of your franchise locations, it’s essential that you always have a clear understanding of how many units you have available at any given time. If a customer comes to one location and wants a particular product that is not currently in stock at that location, it’s always an advantage if you can check your system to see if it is available at another store. With modern-day inventory management tools, you don’t need to spend hours and hours physically counting every unit on your warehouse shelves. These complex tools use a number of different technologies to keep track of your entire inventory, regardless of where it is located so you always know what is available. They will also automatically update when units are sold, returned, shipped or when new stock is added to the inventory.
Franchise Management Software
In addition to the tools mentioned above, there is also a selection of franchise management software solutions available. These tools have been specifically designed to meet the needs of business owners that have business franchises in multiple locations. These tools have features that allow you to collaborate with other franchises, manage internal communications and manage a range of different business functions such as sales, marketing and CRM (customer relationship management). As there are so many different options available, it’s always wise to do some research to ensure that you find a solution that will meet the specific requirements of your organisation.
Take Control of Your Multiple-Franchise Business Moving Forward
While operating a multiple-location franchise business can be difficult, with the right tools in place, you can ensure that everything goes as smoothly as possible. The tools mentioned above are a great place to start, however, as the needs of every business are different, it’s essential to look at all of the options available to ensure you make the right call for the needs of your company. With the right tech solutions in place, you can ensure that your company continues to go from strength to strength moving forward.
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