For multi-unit franchisees, efficient cash management is vital for sustaining and growing your business. One financial tool that can be particularly beneficial is the use of a sweep account. This article delves into the value of sweep accounts for franchisees, explaining how they work and why they might be an advantageous addition to your financial…
Franchise management software plays a crucial role in maintaining consistent branding and communication throughout franchises by providing tools and features designed to streamline and standardize operations, marketing, and communication across all franchise locations. Here’s how it achieves this: By leveraging these features, franchise management software ensures that every franchisee upholds the brand’s standards, leading to…
Olo and Qu Partner to Offer Digitized Card Swipes and Enhanced Data Collection for Restaurants In a move that is sure to streamline operations and provide valuable insights for restaurants, Olo has partnered with Qu to offer Olo Pay as an integration with Qu’s point-of-sale (POS) system. This integration will allow restaurants to digitize card…
Dynamic pricing is a pricing strategy where prices fluctuate based on demand. It’s becoming increasingly common in the fast-food industry, with Wendy’s recently announcing plans to implement time-based pricing. What is dynamic pricing? Dynamic pricing is a pricing strategy that allows businesses to adjust their prices based on demand. This means that prices can go…
Subway has terminated its master franchise agreement with SouthRock Capital, the company that operated Subway and Starbucks in Brazil. The move comes after SouthRock filed for bankruptcy, with debts estimated to be $370 million U.S. SouthRock’s bankruptcy filing comes less than a year after it acquired the Subway master franchise in Brazil. The company also…
Have you heard the latest buzz about Del Taco? They’ve pulled the plug on their Presto voicebots in the drive-thru. Remember those automated voices that took your orders and tried to upsell you on extra guacamole? Yeah, they’re gone. What Happened? Del Taco gave Presto’s voicebots a test drive, and initially, it seemed like a…
In the fast-paced world of franchise operations, communication is paramount. However, a common pain point in this sector is the “ping pong” effect – a relentless back-and-forth of calls and messages that leads to confusion, inefficiencies, and delays. This issue is vividly illustrated in a recent conversation among franchise professionals, Mike, Anders, and Joe. 1….
Chatbots can play a significant role in increasing franchise sales through various means. Here’s how they contribute to the sales process: 1. Lead Generation and Qualification: Chatbots can engage potential franchisees visiting the website or social media pages. They can ask qualifying questions to understand the visitor’s interest level, financial capacity, and readiness to invest….
High-value recruits, often referred to as sophisticated or experienced investors, are individuals or entities that have significant financial resources, business acumen, and often prior experience in owning or operating businesses. When evaluating franchise opportunities, these recruits have specific criteria and considerations. Here’s what high-value recruits typically look for in a franchise: 1. Strong Return on…
Franchise management software plays a crucial role in maintaining consistent branding and communication throughout franchises by providing tools and features designed to streamline and standardize operations, marketing, and communication across all franchise locations. Here’s how it achieves this: By leveraging these features, franchise management software ensures that every franchisee upholds the brand’s standards, leading to…
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