Benchmarking for Franchises and Industry Associations

Undertaking benchmarking projects can greatly support franchises, industry bodies and associations to learn more about their members and thus, improved services provided. Our benchmarking projects enable you to design your own internal or external benchmarking projects specific to your organisation needs. We offer many types of benchmarking, all designed to drive continuous improvement for your small business members and/or stakeholders.

Benchmarking: Benefits for Franchises

The franchise model has become an increasingly popular business model for Australian entrepreneurs looking to access an instant business. The model is likewise highly desirable for successful business owners seeking to expand their retail, hospitality and services locations across the nation. However, as a franchise grows, it is vital to ensure the correct franchise systems are in place to enable the franchisor to provide a high-level of relevant support services.

Increase the franchise brand competitive advantage

Identify Group-Wide Trends

Encourage Individual Store growth

Increase the Number of Franchisees

Our benchmarking platform is designed for both franchisors and franchisees to drive overall brand growth. We have highlighted the key benefits of benchmarking software for franchises:

Increase the franchise brand competitive advantage: With our benchmarking software, franchise brands can benchmark both individual stores, and group performance against competitors in the industry. Franchisors can assess how the industry is performing compared to individual franchisees to identify areas for improvement. Comparison areas can include cost of goods sold compared to revenue, rent and location costs, investment in advertising and marketing, employee expenses, stock turn rates and overall profitability. Knowing your competitors’ strengths and weaknesses will give franchise brands a competitive advantage at both the franchisor and franchisee levels.
Identify group-wide trends: franchise models are based on the concept that everyone wins. Therefore, franchisors need to ensure they are consistently supporting franchisees to achieve the highest level of performance possible. Within our benchmarking project options, franchises can build group specific benchmarking systems to assess key performance metrics relevant to the brand and industry. This gives the opportunity for management to establish group wide trends, positive and negative, and forecast store performance based on improvements. Trends can highlight key group areas for improvement and positive unique selling points as well highlighting franchisees that need more support.
Encourage individual store growth: benchmarking can support individual stores too. With our different project licenses, franchisors can allow access for all franchisees to view their own store benchmarking profiles. Giving stores access to benchmarking reports against others in the industry, as well as others in the group can showcase individual store opportunities for improvements. The reports can support franchisees to see how they can grow, and where they are excelling. This can help to start important conversations with management and stores regarding performance management if required. It can also support in providing awards and recognition to franchisees who are achieving impressive results.

Increase the number of franchisees: when looking to buy a franchise, potential store owners are seeking return on investment, corporate support, opportunity for market growth, training and high brand awareness. With our software, franchisors can promote store support, return on investment figures and annual store improvement as key offerings to potential buyers. Via our custom benchmarking solutions, franchisors can build specific projects to track any information required which can be extremely useful for when promoting stores for sale.

Interested to learn more about how Benchmarking can support your franchise? See our Benchmark Project Licenses or discuss your requirements with our Partnerships Manager, Vincent Keogh.

Benchmarking: Benefits for Industry Bodies and Associations

Industry bodies and associations provide valuable services for small businesses across Australia. Benchmarking can be a vital tool for associations to monitor and foster industry-wide growth. In addition to driving growth, associations can also utilise benchmarking to provide members with important information about their business performance compared to other similar businesses. This creates additional value for members and, greater insights for your association’s management team.

Analyse Firm Performance

Run Scenario Modelling

Export and Tailor Results for Reporting

Industry based associations can utilise our benchmarking software options in many ways to benefit members:

Member access to industry reports and insights: our details industry reports can provide your association and your members with a wide range of industry insights and performance. As an association, through our benchmarking licenses you can provide all your members with discounted or free access to their industry benchmark report. To find out what’s included in our reports, see our Australian Business Benchmark Reports.
Opportunity to benchmark members: with our platform license, extend your member benefits to allow each business to individually benchmark their performance. This means they can compare their business performance against other similar businesses in your industry. Your members can compare profitability, productivity, expenses/overheads, spending on employees and much more. See our Business Benchmark Report for more details.

Custom designed benchmarking projects: give your members increased industry insights by developing your own benchmarking projects. Working with our expert team, design a benchmark report specific to your industry to drive growth and/or address key areas of concern. Benchmarking your members against each other, as well as the greater Australian Industry, can support your association identify key trends within your cohort. This can lead to the creation of more strategic projects to better support members and the industry at large. Further, it can be utilised as a marketing tool to showcase how well your members are performing and thus, increase your value offering.

There are many more ways Benchmarking can support your association’s members. See our Benchmark Project Licenses for further details or discuss your requirements with our Partnerships Manager, Vincent Keogh.

Find out More About Benchmarking Today

Interested to learn more? Contact us to find out which benchmarking product is the best fit for your franchise group or association. All our packages include:

Custom designed member portal and login
Opportunity to brand all reports and the login portal with your logo and brand colours
Access to 24/7 technical support for you and your members
Data upload assistance for all members if required
Opportunity to undertake annual benchmarking performance to establish key performance metrics for your industry or franchise
Access to the benchmarking business resources library for all members and business owners

For More Information

See the full range of Benchmarking Project License options or contact us today to find out more.

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See our sample Benchmark Report