The franchise industry is much larger and more diverse than most people realize. While almost everyone recognizes the major game players like McDonalds, Dunkin’, and Taco Bell, the industry is much more substantial. Statistics show that there are nearly 750,000 franchise establishments in the United States. These franchises are not just limited to fast food. The franchising industry also includes gas stations, convenience stores, hotels, car dealerships, real estate offices, fitness centers, beauty salons, and countless others.
Just like businesses in other industries, these franchises constantly face new challenges. Rapid changes in the digital world make it increasingly difficult to stand up against the competition. With so many options available in our competitive marketplace, many franchise businesses find it difficult to continually draw in and retain customers. To keep up with the competition and encourage continual growth, franchises must take the proper steps to obtain the business intelligence needed to learn about what people want and need. Franchise territory mapping can deliver businesses with the information and tools needed to perform comprehensive market analysis.
Promote Better Decision-Making
The use of location-based analysis to select franchise locations can help these businesses operate more efficiently and make better decisions. Thus, organizations can potentially take in a larger amount of profits when working with business mapping software.
When you utilize franchise territory mapping technology, you can acquire a wide range of important information, such as:
- The best locations for expanding your franchise locations
- Your most profitable customers
- Demographic and geographic markets that are likely to offer the highest number of new customers
- Facts that can help you determine if your franchises are achieving peak performance
Innovative geographical tools offer many useful data and functions, such as the most up-to-date USA Census Tracts. State-of-the-art mapping software also allows your business to easily import location data, as well as business datasets to create informative map views. Callouts and map notes can be used to identify existing franchise locations. This mapping technology even allows you to verify your business’s compliance with local regulations.
Better Understand Customer Needs
Franchises must work hard to understand the unique needs of their customer base. To maintain a healthy growth pattern, many franchises have established customer-centric strategies designed to gain a more concise understanding of their customers and what they are looking for in terms of products and services. To better target customers based on their needs, marketers often divide customers into smaller subgroups based on various characteristics and behaviors. Through segmentation, franchises are able to offer effective sales incentives.
Franchise territory mapping has the power to help your business achieve greater success by creating a unique view of customers. A customer segmentation analysis can be useful for learning a variety of information about both existing and potential customers. With mapping software, you can filter customers by their location, drive time, and other imported data relating to your business. With this information, you can discover new opportunities designed to help your business flourish. You will also be more equipped to invest in the resources necessary to help you develop strategies that will strengthen customer relationships and deliver personalized messages.
Create a Thriving Network of Franchises
Developing a visual representation of how your business is growing can be highly valuable when strategizing for the future. Franchise territory mapping software can help you visually enhance your business intelligence by making it easy to evaluate existing franchises, potential sites, and the locations of your customers and competitors.
With database management and easy-to-use query tools, businesses can now pinpoint the exact location of facilities, as well as areas of interest based on demographic characteristics. Using census data, businesses can also identify areas that may be underserved. You can then conduct a comprehensive intelligent site analysis on your competitors to help develop a more effective and profitable network of franchises.
Discover Business Solutions Using Maps
Map Business Online is a web-based software used by all types of businesses, including those in the franchising industry. With business mapping software, you can more accurately organize and analyze your business data geographically. The software can be used by small and large businesses alike to create business workflows, custom maps of sales territories, and business expansions. To get started, simply import an Excel spreadsheet containing business data.
Here are just a few solutions that franchise territory mapping software can deliver:
- Business Map Visualizations – Business mapping software allows franchises to make more informed decisions by providing the tools needed to visualize critical business data. When you import business data into the software from a spreadsheet, important business locations will be pinpointed on a concise business web-based map. You can also create map classifications based on different business categories.
- Sales Territory Mapping – This mapping solution can be especially useful for franchises looking to grow their business. With sales territory mapping software, businesses can create and manage sales territories. Franchise territory mapping technology makes it simple to create sales territories from scratch or from spreadsheets containing business data. While sales territory mapping is usually based on individual zip codes, counties, or even states, you can also choose to use convenience mapping tools to draw free form sales territories.
- MapPoint Replacement – With Map Business Online, you can get up-to-date street data and base maps at any time. This Microsoft MapPoint replacement offers businesses an affordable solution for comprehensive sales territory mapping, optimized routing, address spreadsheet import, and geographic market analysis.
Reap the Benefits of Business Mapping
Franchise territory mapping can provide businesses with a host of advantages. This affordable and easy-to-use mapping software requires no training and can be used for a wide range of functions. Franchises that leverage the power of a business map are able to more efficiently create and manage sales territories which helps drive sales and overall growth within a company. In addition, business mapping can help franchises visualize their competitors and customers in a way that is not possible on paper alone.
Map Business Online can also help your franchise reduce fuel costs and boost your overall productivity through optimized vehicle routing. Data filters and radius maps allow franchises to effectively search and segment business data sets. Business mapping has also been found useful in improving communications. With online mapping tools, you can more easily share map URLs, print wall maps, and even embed maps in your business presentations. Your team will also have direct access to shared map editing functions.
Location strategy is essential to any franchise business. The way in which you define your franchise territories and the locations where you build your stores will ultimately determine if your business is successful or not. Franchising territory mapping can help improve your decision-making and ensure that you make the right choices in terms of territory creation and site selection. When franchise territories are property allocated, you can achieve greater economic benefits.
Business mapping can benefit both franchisors and franchisees. With business mapping software, franchisors are better equipped to penetrate a market area, resulting in increased sales and profits. In addition, franchisees will be provided with adequate territory to generate and maintain a revenue stream that does not have to deal with direct competition from other franchisees. When developing territories, various business models like exclusive franchise territories and non-exclusive franchise territories are taken into account. With the proper software and demographic information, you can help prevent franchises from being located too close to one another or in inadequate market areas.
Strategically Plan, Map, and Sell Franchise Territories
In a saturated marketplace it is important, more than ever, for franchisors to target locations that will best benefit their business financially. Territory mapping software offers a viable solution that gives these businesses the intelligence they need to ensure that the franchise territories they choose are suitable for commercial purposes. This customizable web-based software takes into account branding, cartography, database content, demographic data, and much more to give you the tools to grow your franchise network.
Territories are the cornerstone of any franchise as it provides them with revenue, customers, and the endless potential for growth. Choosing the wrong territories can have a detrimental effect on a business’s potential to grow. For example, if a territory is too small, there will be minimal opportunity for expansion. In addition, if a territory is chosen with little regard to location, you may find that neighboring franchises are constantly competing for your customers.
Once territorial boundaries have been defined, business mapping software can assist with management. Easily compare the performance of different territories side by side and better understand that factors may be impacting the performance of that franchise. Various factors can influence performance, such as location demographics, territory demographics, and competitor locations. With the right mapping tools, businesses can also quickly identify overlaps or gaps in coverage. This type of information can also be useful during the planning process.
Learn More About Business Mapping Solutions
Business mapping solutions have the power to help you grow and manage your business. In the franchising industry, it can be challenging to start and grow a successful business, especially when you have to meet certain franchise-wide rules and requirements. However, with the right business intelligence it is entirely possible to be quite successful in growing a franchise. The task of mapping out a new expansion can seem overwhelming to a franchisor. However, modern mapping tools make this task nearly effortless.
Mapping targeted customer and territory data can essentially expedite the growth of your business. However, it is important to rely on the right technology for the job. Map Business Online is the ultimate web-based business mapping software available. For more information about online business map software or to inquire about a free trial, contact the business mapping experts at Geographic Enterprises.