Franchisors Must Search — For Profitability and Growth

franchiseTime is money, so it makes sense that franchisors who value time by creating more of it are more likely to award more new franchises.

That’s the viewpoint shared by Joel Libava, a/k/a The Franchise King.

“It has long been thought that organization is the key to success,” writes Libava in a recent post on his website. “Business moves faster than the speed of light, so everything you can do to shave precious minutes off your work can improve your franchise’s bottom line and allow you to expand your business.”

We at Sintel Systems found this of particular interest, as it matches the momentum we’ve witnessed in mid-life career changes and older entrepreneurs entering into the franchise sector — a major area of our point of sale (POS) expertise. If you’re considering starting a franchise business, you might not realize how important it is to choose the right point of sale provider for your long-term success.

One trick Libava advocates to get more organized, so franchisors can award more new franchises, is how to use search technology to find digital files at the click of a button.

“Rather than spending time putting it where it goes and then losing it anyway, just save it wherever,” he writes. “You can easily find it later with a proper search function rather than guessing which folder you put it in to begin with.”

Although running a franchise organization means a lot of paperwork, making that paperwork more efficient can help you make more time for franchise sales.

His post contains an informative infographic on how this strategy works for those who know how to use their time wisely.

Here are the highlights of the infographic, Search vs. Organization, the Battle for Efficiency:

• Despite widespread organizational methods such as folder structures, naming conventions and document tagging, organizing documents is a waste of company time and money.

• Knowledge professionals spend 5-15% of their time reading information, but up to 50% of their time looking for it!

• 7.5% of ALL documents get lost, and 3% of the remainder will get misfiled.

• A typical enterprise with 1,000 knowledge workers wastes $2.5 – $3.5 million per year searching for nonexistent information, failing to find existing information and recreating information that cannot be found.

• Given that 28% – 45% of U.S. workers are knowledge workers, it is estimated that $113.4 billion is wasted annually nationwide.

• Hence, the best strategy is: Don’t make organization better, make search better!

“Time may be your most precious commodity,” says Libava. “You need to learn how to use it wisely.”

Read Joel Libava’s full post here.

For more insights into making the move to franchising, check out our related blog posts, Habits For Franchisee Success, A Franchise Personality Fit For A King, and Start At the Top and Work Your Way Up.

If you’re considering starting a franchise business, you might not realize how important it is to choose the right point of sale provider for your long-term success.

Sintel enhances our customers’ success by turning point of sale data into strategic decisions, allowing larger franchises to grow and providing startups the foundation for future growth from the very beginning by acting as a franchise incubator, nurturing their businesses for the long haul.

Don’t wait until late in the game to plan for your point of sale system. The benefits of establishing an early relationship with your point of sale company are many — not just in demystifying the process and determining the optimal system, but even before you decide on a franchise direction.

Sintel Systems is the only direct to end user full-service provider of tailored Point of Sale systems across retail, restaurant and service industries, including frozen yogurt shopspizzeriassushi restaurantscafés and retail stores.

As a single source for business solutions, our experienced, knowledgeable team negotiates the complex POS landscape for you to enable you to find the right POS system for your business and budget. Hardware – Software – Support

Questions or Comments: Contact us 855-POS-SALES

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