Franchise growth is at an all-time high, and so is competition. Whether you’re looking to maximize market potential, expand into new markets, or sell new franchise territories, customer analytics can increase the speed of your franchise development and drive growth for your business.
Learn how these fast-growing concepts propelled their franchise growth strategies using customer analytics.
1. Orangetheory Fitness Achieves Rapid Growth Using Analytics as a Guide
Buxton helped Orangetheory Fitness to grow from 14 locations to an anticipated 700 locations in just four years through franchise site selection analytics.
Dan Adelstein, vice president of franchise development and real estate for Orangetheory Fitness, noted: “We’ve been very smart and methodical, saying, ‘Don’t go too fast…make sure you have good data to support why you go to certain places and how many locations you can have.’”
The data-driven approach has paid off, with the company expanding rapidly around the globe.
2. Firehouse Subs Aligns Team With Central View of Growth Potential
Firehouse Subs optimized market planning and forecasting, and enhanced collaboration across their nationwide business through Buxton’s SCOUT tool.
“SCOUT helps us from a strategic planning or growth standpoint,” explains John Namey, vice president of real estate services for Firehouse Subs. “When we want to look at a secondary or tertiary market that we haven’t visited or evaluated, we run a U.S. potential through SCOUT that will tell us if the area meets our minimum criteria for core customers.”
3. Red Wing Shoe Company Develops Corporate and Dealer Network by Understanding Customers
Red Wing Shoe Company employed Buxton’s SCOUT tool to understand market potential of their company and dealer owned locations. Buxton’s ability to use their actual customer data in a predictive model provided the insight they need to take a data-driven approach to growth.
Marisa Dille, director of real estate development at Red Wing Shoe Company, said that profiling the Red Wing customer has been an important element of growth.
“With the robust data we collect at our point of sales system, we are – with Buxton’s help – able to profile the Red Wing customer. Who is that modern craftsman? Where does he live, where does he work and where is he shopping? With that information, we’ve been able to understand where those pockets of like Red Wing customers are, and that’s really helped us develop a strategy for where we want to place our Red Wing stores.”
To learn more about using analytics to fuel your franchise growth strategy, contact us.