Growing a business via franchising -6 Biggest Pitfalls to Success
This one is probably the biggest pitfall a medium sized franchise makes – failing to learn from the sites in the network that are currently trading (or that may have closed).
An existing network presents a unique opportunity – to undertake some analysis to identify what makes the best stores perform well, and the worst stores perform poorly.
By identifying what the critical sales drives are for the brand, this then ensures that the best sites are selected by focusing on the things proven to be beneficial to sales.
This type of analysis can then lead to the development of site selection tools and models to predict site potential. It can then lead to a strategic network plan, highlighting future pipeline sites based upon the findings from the analysis.