Five ways to make your franchise more efficient
Times are tough, and businesses must find ways to...
Times are tough, and businesses must find ways to streamline their service and improve efficiency if they want to remain profitable. Identifying efficiencies in a franchise organization can be a challenge because no two branches are exactly the same. Some will be situated in wealthier areas, while others will see more foot traffic or less competition. Some will be run by a trusted local, while others are in a bustling metropolis where nobody knows their name.
Noting these challenges, we have identified five options for you to consider as part of your efforts to streamline your business operations and improve efficiency.
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1. Shrink your offering.
It may sound counterintuitive, but eliminating less-popular products or services from your offering allows you to focus on the areas that make you money. Similarly, if two products or services compete with each other, removing one can help customers achieve clarity and make them more likely to commit to a purchase.
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2. Embrace digital signage.
Paper signage goes out of date, gets smudged and dirty, and acts as a breeding ground for bacteria. In contrast, digital signage can be updated at the touch of a button, is visually appealing, and highlights your offering to customers in a more engaging manner.
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3. Implement customer-centric measures.
Carefully consider what your customers want from your business and find ways to shift your offering to meet their needs. For example, food businesses could implement measures that prioritize in-store customers over those ordering via an app or online to ensure the comfort and satisfaction of physical customers as well as the quality of takeout products that are being prepared for pickup.
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4. Automate repetitive processes.
If you are able to identify necessary but time-consuming and repetitive processes in your operating model, find a way to automate them. Not only will you save time and money, but eliminating boring and repetitive work will increase staff satisfaction and reduce the likelihood of errors. Keeping your staff engaged and present will go a long way toward improving customer satisfaction, reducing worker turnover, and stabilizing your financial position.
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5. Implement a feedback loop.
Your staff and customers see a different side to your business than you do, so take the time to listen to their praise and concerns. By implementing a feedback loop, you will develop a better understanding of how your business runs and is perceived by others, allowing you to target your interventions to achieve the best effect.
