Why Growth Monitoring is Important for a Franchise Business? A business should pause for a while to analyze the growth, steps and calculate profit and then plan for its optimization

By Franchise India Staff

This story originally appeared on Franchise India

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.


Franchise business is one, where a lot of things happen simultaneously. And before anyone realizes the small unnecessary steps taken and invested upon, it is all over the place.

A business should pause for a while to analyze the growth, steps and calculate profit and then plan for its optimization.

Here are 5 Ways to optimize your franchise business:

Cut down Inefficient work processes

Often franchise business means endless discussions on topics, meeting people and trying out new strategies, which swallow a lot of time and hampers the output.

To increase the efficiency of your business and your team, cut down the inefficient work processes, such as the focus on one strategy for at least a month, to see its outcome, keep the meetings short and crisp.

Prioritize the Metrics

The six most important business metrics are:

  • Sales Revenue
  • Net Profit Margin
  • Gross Margin
  • Sales Growth Year-to-date
  • Cost of Customer Acquisition
  • Customer Loyalty and Retention

Put your effort in these six business metrics and keep a close watch to observe fluctuation and note them down to improve or to change certain things which are causing maximum disruption in the metrics.

Keep a Track of ROI

The ROI might take time to appear, after you start your business but hold your patience and see the movement of the market and make the changes in your way of doing business, accordingly.

Never plan your investments before seeing the light of profits. Always plan to expand wisely via a franchise model rather going on your own to other places.

Outsource as much as you can

Thanks to the technology, now anyone can do any work with a little supervision from anywhere across the globe. There are many skillful people who prefer working in their own zone without someone hammering constantly on their head. They do the work responsibly and sincerely for less than what you pay to a regular employee.

Outsource as much as you can to reduce excessive investment and avoid unnecessary burden of maintenance.

Be particular about tasks

Go as per your plan, get the important things done first and meet the quality you promised to your customer. If you are investing in your employees, make sure you want them for some task, in particular, assign them duties and give them a clear picture of what you want from them, so no time and resource will be wasted in getting to the bottom of it.

This article was originally published on Franchise India by Nibedita Mohanta.

Wavy Line

Related Topics

Money & Finance

3 Ways to Create Multiple (Big) Streams of Income

Here are three ways to create multiple streams of income. These strategies require effort and resources but offer significant financial potential.


Sustainability: How EVs Are Trying To Make a Difference

India emits around three giga tonnes of CO2 and other greenhouse gasses per year. Nearly 25 per cent of this emission occurs due to each and every type of road transport vehicle. Globally, automobile manufacturers have been at the forefront of bringing a shift towards electric vehicles. Experts share their opinion about this transition at Entrepreneur India's Tech and Innovation show

News and Trends

Ola Founder Bhavish Aggarwal Registers a New Company: Report

The startup is likely to be in the artificial intelligence space

News and Trends

B2B Fintech platform BharatNXT Raises $1.2 Million Seed Fund

The funds will be utilized to invest in product development and expanding the team size by 4 times and enhancing the scalability of the core technology to accommodate ten times the current growth

News and Trends

The Productivity Formula: These 5 AI Tools Will Help the Entrepreneur In You Make Prudent Use Of Time

It is no hidden fact that early-stage founders have to don multiple hats simultaneously to get going on their big dream. And with multitasking comes a gloomy possibility of errors and missing out on important dates, tasks and meetings.


The Real Reason Why The Return to Office Movement is Failing is Revealed in New Study

There is a vivid sign of the disconnect between employees and their workplace, a glaring indication that companies need to revise their scripts to improve their hybrid and remote work policies.