Actionable Guidance Backed By Timely Insight
The Franchisor’s Dilemma
Franchisees are looking to Franchisors for guidance. Some may be desperate and likely to make uninformed or worse, bad decisions. Others simply want someone to sort out all the information and tell them what is going to happen. A franchisor can have hundreds or even thousands of units scattered across way too many counties/states to possibly assimilate all the information available. Even if there was time to assimilate all this information, it does not give the franchisor anything actionable – how does the franchisor help individual franchisees to know when the customer mindset is conducive to a return to activity? When should a specific franchisee start hiring or adding to employee numbers? For brands with inventory needs at the unit level when should the franchisee re-establish or expand orders through the supply chain (supply chains are stressed as well so timing it ahead of others will be important)? When should a franchisee begin or expand local advertising?
The brand recovery model predicts customer activity which is central to brand recovery. By combining a brand’s unit location data, COVID confirmed case tracking and, most importantly, social mobility tracking, we can forecast a weekly updated 30-60 days into the future of what consumer activity will look like. The information gives a franchisor the ability to advise specific franchisees about timing of employee hiring, inventory/product purchasing, and local marketing, all of which cost franchisees money and time.
With this solution, a franchisor will be able to guide their franchisee at a unit by unit level. Zors can leverage the information and accompanying consultation provided by FRANdata to differentiate their approach and ensure more ground-level efficiency and better timing around ramping up their units reopening.
Anticipating how each unit’s customer base is likely to respond in the next 30-60 days is critical to a franchisor’s system’s recovery in the short term and a competitive advantage in the longer term. With this solution a brand can provide informed and actionable advice now.
It’s hard to plan for the recovery with so much uncertainty but that is exactly what franchise leaders need to do. A franchisor must be able to predict the timing of the recovery for every unit in their system in order to give franchisees the best chance of recovering strongly. Having this foundation of information is a strategic advantage because franchisees will be able to reach out to employees, suppliers and customers at the right time.
Questions? Fill out the “Contact Us” form found below or call 800.485.9570.
The hardest hit industry nationwide according to our estimates is Education and Daycare services, followed by Real Estate and Health Fitness – all industries that have a harder time shifting to alternative sources of revenue and who also tend to be found in more urban areas which have been hardest hit economically
Degree of impact can shift region by region, for instance in New England sit down restaurants count as the second hardest hit industry partly due to how widespread the disease is in the region.
Interested in learning more?
Have a problem you need solved? Place your request for information here and one of our client advisors will respond to you shortly.