Location intelligence is the most effective tool you can use to find franchisees, keep them long-term, and help them grow.
Franchising is a great way to scale your business, offering distinct advantages for both you and your franchise partners.
However, it also means significant upfront costs for franchisees, and a division in the management/strategy strata.
With location intelligence, you can set out your stall as a franchiser, persuade franchisees of viability, and convince them to choose you over other potential partners.
How to find franchisees with location intelligence software
Here are three ways you can use location intelligence software to find franchisees fast:
1) Intuitive data visualisations
Periscope® is an advanced location intelligence platform that enables you to conveniently process massive datasets, then provide intuitive visualisations.
Show franchisees why an area is viable by overlaying vital customer demographic information onto your own secure, corporate version of Google Maps.
You can also overlay data on footfall, transport interchanges and complementary/competitor businesses to indicate why one particular location within a territory might be more suitable than another.
Powerful in isolation, you can make these visualisations even more potent by sharing other examples that demonstrate the interplay between territorial traits and profitability.
2) Transparent territory distribution
Periscope® is particularly important in persuading franchisees that territories have been fairly allocated.
This is a significant draw for potential franchisees, helping minimise the costs and disruption of disputes later on. It also reduces your legal risk, and ensures the allocation of your resources doesn’t overlap.
The franchise tendering and management processes rely on accurate and ongoing address validation. Periscope® automates this process, using the latest data on addresses, house prices, socio-economic criteria and Council Tax bands to paint a complete picture.
Rather than arbitrarily defining territories of a certain size, these can be easily configured to represent the situation on the ground. You can take account of local road networks, transport interchanges, shopping districts and more.
3) Business development
Periscope® is crucial for optimising long-term business development, helping persuade potential franchisees that you’re the right choice.
This approach will help you improve both the retention and performance of your franchise partners.
With location intelligence, you can also notify your franchisees of upcoming developments (e.g. new housing developments/transport infrastructure). You can even demonstrate the effect these developments are likely to have on their profitability.
Depending on how involved you want to be, you can use location intelligence insights to provide sales forecasting, marketing insights/materials, or specialist training.
This ensures that your franchise relationship is beneficial for both you and your business partners.
Transform your approach to franchising, find the partners that will take you further, and gain valuable new insights with location intelligence.
Find franchisees fast with location intelligence from Periscope®; sign up for a free, 10-minute demo today.