We admire the dreamers turned doers. An idea in your head and a passion in your heart has turned into a full-blown enterprise. You believe in going big and we support that — figuratively and literally.
And as your business keeps growing, so do the expenses. While you may not realize it, there’s a high chance those expenses are the cause of some basic business best practices falling through the cracks.
You’re not alone. As emerging franchises open new locations, it gets hard to ring them all in. The truth is, you cannot physically be there to monitor each location at once, but Hub by Thryv gets you dangerously close. And it can reduce franchise expenses in the process.
22% of SMB say digital tools helped reduce operating costs.—Deloitte
Spot Performance Inconsistencies
As a franchisor, making sure everyone is on the same page is critical to the overall success of your business regardless where they are. Rather than waiting for quarterly reports to trickle in, Hub by Thryv allows you to be proactive.
Using the performance dashboard, franchise owners can easily identify low-performing locations. Then you need to pinpoint the cause of the poor performance that’s costing your business money.
Businesses that perform poorly usually suffer from:
- Undefined or unclear objectives
- Poor strategy or execution
- Lack of resources
- Mediocre marketing
- Inadequate communication
- Zero brand understanding
Thanks to real-time tracking, franchise owners can regularly monitor each location’s performance from the dashboard and step in before any of their locations get too deep into a hole.
Hub offers a weekly, monthly and daily view of the selected activity, along with a comparison to the prior month or year. Click here for a full guide to the Hub Data Explorer.
Eliminate Missed Appointments
Talk to your franchisees and their employees. How many times has appointment time arrived and the customer is nowhere to be found? You know as well as we do that missed appointments means you’re losing revenue.
And there’s more to it than not getting the money from that service. When your customers are no-shows, a series of BAD THINGS can occur as a result. Revenue is also affected because:
Now you’re improperly staffed. Those missed salon appointments mean you have staff on the clock with nothing to do. They’ll be paid for their time without any money coming into your business.
More importantly, once those employees have reached their max availability, you’ll be left to pay out overtime to maintain service levels once those clients circle back around for their rescheduled appointment.
Travel cost is wasted. When your team arrives ready to do HVAC work but there’s no one home to give access to the house, money goes down the drain. Not only are you paying for their hourly rate, but gas as well (and at $5 a gallon, yikes!). Not to mention the often forgotten cost of wear and tear to your company’s vehicle.
Opportunities are missed. That spot could’ve been used for one of your other faithful customers or even a lead you’ve been working through your pipeline.
Your staff disengages. It’s frustrating when clients don’t show up. Your staff is already working to make the most of the resources they have, but they can’t get that time back. Missed appointments leave them with a hole in their schedule.
It can leave them feeling less productive in the future, which could negatively affect customer service.
Maximize Revenue Potential
While you reduce franchise expenses, you can maximize revenue potential at the same time.
With Hub by Thryv, franchise owners can give each location the tools they need to keep customers coming through the door — or answering the door if that’s how your service rolls.
Clearly, online booking helps you free up staff from having to sit by the phone. But with Hub by Thryv’s client portal, your customers can reschedule or add on to their appointments when they need it.
Thryv offers automated reminders to keep your business in touch with your customers while you’re helping others.
Once appointments are scheduled, set up time-based reminders to send alerts via email, text message or both.
By setting two-week, one-week and one-day reminders, customers are allowed multiple chances to check their calendar and cancel or reschedule if needed.
Reduce Franchise Expenses
Think of Hub by Thryv as a centralized command center enabling transparency and a real-time view into what’s happening at each of your business’s locations.
You’ll have full financial line of sight while also ensuring franchisees follow your processes.