3 Proven Steps To Maximize Franchise Profitability

Sponsored content by Qvinci.

Scaling a franchise organization is risky business, especially during inflationary and recessionary periods.

This is why a simple three-step solution that provides actionable financial insights at the click of a button, and is proven to slash risk while increasing profitability, is key to accelerated growth.

Here’s how it works:

Step 1 – Get the Data

Empower your franchise to scale in both the best and worst economies by accessing timely and accurate financial data from every location that can be mapped to a Standard Chart of Accounts (SCoA) to precisely assess performance.

Qvinci’s easy-to-use, patented technology:

Automates the collection, consolidation, and mapping of franchise owner financial data in near-real time.
Eliminates the dreaded manual data collection that takes hours upon hours of Excel spreadsheet manipulation.
Facilitates significantly higher cooperation rates than manual efforts and ensures 100% franchise owner participation.
Enables franchise operations to know instantly which franchise owner is not keeping up with their financial reporting obligations.

Step 2 – Analyze the Data

Enhance collaboration, efficiency, and profitability by providing operations and owners with cloud-based access to easy-to-understand, immediately actionable financial reporting and business intelligence.

With Qvinci…

The franchise ops team has access to the Advisory Portal (a financial wellness dashboard) to clearly see which units are trending favorably/unfavorably (GREEN /RED numbers & percentages), easily identify and share best practices, and monitor the corrective progress of each location.
Franchise owners have immediate access to Key Performance Indicators and other high-impact business intelligence (KPI Scorecard and Financials) that can be quickly disseminated with actionable financial insights everyone understands.
The KPI Scorecard and Financials highlight the Income, COGS, and Expenses that impact profitability the most. Use of predictive analytics, charts, and graphs illustrate how a particular location is performing against corporate profitability standards.
Franchisors can quickly benchmark franchise owner performance compared to the network in a standardized way.
Franchise owners can anonymously compare themselves to peers to reveal areas needing improvement as well as where others are showing greater success.
Franchise owners can use the What If – Cashflow and Financial Forecasting Optimizer to create virtually an unlimited number of What If forecast scenarios to show the ongoing granular impact of financial decisions on an individual entity’s income, expense, profitability, and cash over time.

Step 3 – Take Action!

Lastly, eliminate the corrosive “Big Brother” syndrome while cultivating a win-win mentality across your franchise organization. When franchise owners view franchise operations as a trustworthy, collaborative partner who’s there to help with data-driven insights, collaborative relationships flourish.

Use Qvinci’s ultra-effective “Push-Pull” dynamic to generate strong working relationships between franchise operators and franchise owners.
- The “Push” – Franchise owners review easy-to-read GREEN (favorable) and RED (unfavorable) numbers, ratios, charts, and graphs (generated with Qvinci’s KPI Scorecard) that “push,” or motivate, the franchise owner to call franchise operations for corrective assistance.
- The “Pull” – Franchise operations utilize Qvinci’s popular Advisory Portal to gain a landscape view of all franchise owners’ financial wellness. Illustrates favorable (GREEN) and unfavorable (RED) trends across 5 time periods to indicate that franchise operations should reach out to the owners who are showing unfavorable trending, “pulling” them into a collaborative relationship that prompts them to take remedial action before a crisis hits.
Improve communication between franchise operations and owners with Qvinci’s enhanced analytics. Proven to foster a more productive partnership based on actionable financial insights and transparency that result in increased profits.
Facilitate productive conversations between franchise operations and owners with Qvinci’s KPI Scorecard and Financials, which reinforce areas of operational excellence (GREEN) and identify/monitor areas requiring operational improvement (RED).

With easy-to-use automated reporting and business intelligence, franchises can transition from underutilized “traditional financials” to actionable financial insights everyone understands.

Learn How Qvinci Helps Maximize Franchise Profitability