As the pandemic threat goes beyond conception and affects business models, companies are increasingly technologically dependent to attain operational excellence. According to a recent study, 67% of brand owners and managers believe that technology has a direct impact on revenue growth. “We are able to derive the finest pricing mechanism in the business using modern machine learning and AI capabilities. Furthermore, several app-based solutions ensure that our hotels run smoothly while providing a high-quality experience for our visitors. In just three months, any hotel or asset that joins OYO’s chain sees an increase in average occupancy from 25 to 65 percent,” says Ritesh Agarwal, Founder and Group CEO, OYO Hotels and Homes.
New technologies and capabilities appear on a regular basis. There’s no doubting that technological advancements and changes in how things are done have helped to streamline the business as we know it. Changes that make life easier when dealing with others on a personal level and while stepping out into the workforce for the day. For example, restaurants may update how customers can order, while service and maintenance companies may want to email customers to remind them of scheduled diagnostics, and so on – these same technologies serve to develop people as a whole. If you are a successful owner of the Coaching Institute Franchise then these technologies can help you a major helping hand.
Let’s look into the technical improvements that make good franchise management and commercial benefits possible.
Franchisee owners from all industries have benefited from online training, which ranges from the most basic courses to rigorous training professions. Employees may obtain valuable job experience, business owners may brush up on essential skills, and more all from the convenience of their own homes.
As a paramount Coaching Institute Franchising owner, you can track the position of your business’s orders online as soon as they are placed. That means you can readily determine when something (no matter how crucial) will arrive without spending time on the phone or going to the post office in person.
Use of social media:
Covid-19 has made social media a critical component of consumer marketing tactics, and franchising companies are utilizing social media in a variety of innovative ways. Geofencing is one of the features of social media that allows you to promote offers to clients that are nearby. Any retail or food-and-beverage firm has to be able to capture impulse purchases that social media provides. Engaging a customer has never been easier thanks to the variety of tools and filters available on social media sites. Any brand may win customers with a terrific engagement campaign and an exceptional product or service.
There is a program out there to help your business, from one that does all of your accounting to one that sends out invoices or logs inventory. All that is required is an installation before you can take advantage of unlimited hours of streamlined processes. Consider reaching out to others in your field or contacting your franchising company directly to find programs that are specific to your brand or industry. If you have invested in the Education Franchising then you must equip your business with current advancements.
Management of the back office:
There is no denying the fact that brands are able to bridge gaps caused by demand and supply unpredictability thanks to sophisticated inventory management tools. These tools have benefited the foodservice industry in particular because minor losses if repeated, can have a significant impact on the bottom line. “Inventory management tools give restaurant owners granular visibility and control over their inventory, as well as virtually every other aspect of their back-of-house operations,” Thakur says. Indeed, automating back-end operations allows business owners to spend more time interacting with customers, executing creative campaigns, and increasing sales.
Smartphones are becoming increasingly popular:
This could be the most important piece of technology ever developed. We carry our smartphones with us wherever we go. They’re how people can contact us, how we check email on the go, how we stay connected on social media, and so much more. And we can do it all with money in our pockets. So, as a leading Education Franchise owner, you should always run your business on both online and offline grounds.
Loyalty Apps for Customers:
One of the simplest ways to get your customers to come back for the second round of business, and then a third, and so on is to reward them. In the process, it’s also a way to keep track of consumer behavior. Franchises from all industries are utilizing this new technology and gaining valuable business and insight in the process.
It’s impossible to take something back once it’s posted online and visible to the entire world. That also means you have access to information that can be shared and viewed online. Examine online forums, chat rooms, and social media for trending topics, among other things. All of this information is available to the public, and while it may be about you, you are also a member of the public, which means you can consider what others have said and adjust or celebrate as needed.
All in all, You can incorporate multiple steps to make your franchising process easier thanks to modern technology. Always try to consider these enhancements, as well as others, for a more effective franchise management system.