Franchise Growth Mapping
Franchising is a proven means of business expansion. Franchisors that undertake due diligence, and provide supporting information on any decision that could impact on a prospective or existing franchisee become franchise systems of choice.
With careful planning and research, it is possible for a franchise to successfully grow and reach market potential.
Helping Franchise Systems Grow
While franchising is a proven method to assist with growing a brand, it is important that any growth plans are well researched, carefully planned, and openly communicated, for the highest chance of success. If not, this can severely limit a franchise systems growth.
Geotech Information Services assist franchisors with growing their networks to help them reach market potential, via:
A Franchise Growth Success Story
Geotech Information Services assist franchise systems of all sizes grow, from start up franchise systems, through to major franchise chains.
One particular franchise system had less than 30 stores when they came to Geotech Information Services wanting to grow their store network. Growth had stagnated as they had legally binding territories, many of which were proven to be too large as they were given away in the early stages to get franchisees on board. In addition, they had opened a number of stores that were not performing as well as what was expected.
Through working with the franchisor, over time Geotech Information Services assisted them with moving away from formal territory boundaries to having non binding primary marketing areas around stores. In addition, Geotech Information Services have unlocked the key drivers of success for the brand to predict revenue before a new store is committed to, and to assist network planning managers with where to seek new sites.
As a result, an optimum retail network plan was derived, enabling the brand to strive towards reaching market potential, whilst managing the impacts of cannibalisation. This has lead to great success of the brand, who now has successfully tripled their store network and is still growing.
Optimise the success of your franchise network, by understanding which franchisees are over and under performing market potential.