Predicting The Future, One Customer At A Time

IFA:

Customer analytics can help improve site-selection efforts and uphold the reputation of your brand. As more franchises realize the hidden value in their data, it’s easy to predict the future of customer analytics.

Allowing a franchisee to open a poor-performing location can be extremely costly for any franchise company in ways that go far beyond dollars and cents. Underachieving stores can tarnish both the franchise system’s reputation with potential investors who are examining the retail concept and also affect the perception of its customers. Weak stores affect the quality of the story told in the Uniform Franchise Offering Circular, in which one must declare how many stores have been closed. In the long term, poor locations can adversely affect the brand’s image and have a negative impact on its future success.

Selecting high-quality sites is not easy… read on.