INCREASE FRANCHISEE PROFITABILITY
Fostering a culture where franchisee profitability and ROI take centerstage.
For this young system, the time to begin building a culture of financial understanding and accomplishment was NOW. “How do we go about building an infrastructure to supply the right level of franchisee support?” they asked. “How can we best make sure our franchisees feel our commitment to their profitability and success?” On the verge of finalizing the agenda for the very first franchisee convention, they wondered “should we consider putting a “finance speaker” in a keynote slot?” At Profit Soup we knew if their commitment to franchisee profitability was indeed a promise, there was no better place than a convention keynote to send that message.
CHALLENGE: To quickly strengthen the financial side of franchisee support and establish the commitment to franchisee profitability as a cultural norm.
SOLUTION: We crafted a custom program – Driving Sales and Profit – and included a post conference financial survey. To add traction for franchisees, we are building an Excel-based dashboard tool with metrics related to Driving Sales and Profit. To assist field support and other stakeholders, we will facilitate a process to identify key financial and operational metrics then recommend a strategy for collecting, compiling and sharing these metrics to improve financial acumen and results.
IMPACT: Wow! A standing ovation for a CPA. In all my years of franchising I’ve never seen that before!
John Rotche, President, Title Boxing Club