Performance Reporting and Benchmarking for the Franchise Industry
 
According to the Franchise Council of Australia there are 850 franchise systems and 54,000 franchise outlets in Australia alone employing over 678,000 people which makes it one of the most important contributors to the Australian economy at $80 billion annually.

When a franchisor establishes a franchise business they are essentially creating a system. This system is designed to produce highly efficient and profitable business opportunities for the individual operators (franchisees) and the franchisor who originally created the opportunity. The system will only work if it is proven through measured means and correctly administered and monitored.

Running a business of any sort requires an array of business functions that need to be regularly monitored and maintained accordingly. These business functions may include:

• Financial management
• Marketing management
• Resource management
• Technology management
• Maintenance management
• Customer relationship management

Most franchise outlets can’t rely solely on internal expertise no matter how good it is. For an outlet to grow and succeed the operators need to step out of the business and look back in to identify their strengths and weaknesses across all business functions by comparing themselves to like operations or preferably others within the same franchise chain. By undertaking this process they can then make informed business decisions based on best practice data.

Along similar lines, the franchisor, has an even greater stake in the overall performance of the franchise chain and needs to be able to quickly identify strong performance and weaker performance across each individual outlet.

Greater Information = Greater Efficiency = Greater Profit

Industry Data Online (IDOL) is the performance reporting and benchmarking tool that gives you this insight. A proven system that electronically captures data across all kinds of criteria from internal reporting systems within your franchise operation. IDOL provides instant analysis of where each franchisee is performing well and quickly identifies where there is room for improvement.

This system has instantly improved operating efficiency by at least 10% for many users within other industry sectors. For some, the bottom line benefit has been hundreds of thousands of dollars.

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If you would like further information about Industry Data Online please Contact Us.