One of the new tools that I have been working on for the franchisees is a study that analyzes each store’s location in relation to other franchise locations and also the competition’s stores. The analysis will give key demographic statistics and then relate them to actual financial performance and projected financials on four key “what if” scenarios.
I’ve been working for months on this concept, getting bids from vendors and choosing the right one, then researching the raw data. It is finally coming together, and I hope to have the first two stores plugged in as examples by the end of the month. It wouldn’t take so long if I didn’t have to leave for Florida next week, but I can’t do much of anything else during the IFA convention – it is exhausting in of itself.