Are you a franchisor looking to take your business to the next level? You already know that growth is crucial to your success, but how do you make sure it's sustainable? The answer lies in the power of science and analytics.
At the heart of franchising is data. It's the key to making informed decisions about everything from where to locate your franchises to who to recruit as franchisees. By harnessing the power of science and analytics, you can collect and analyze this data to make smarter, more strategic decisions.
Make Informed Decisions
Choosing the right location for a new franchise is one of the most critical decisions you'll make. Fortunately, data and analytics can help you identify the best areas based on factors like consumer behavior, competition, and demographics. By targeting areas with high demand for your brand, you can maximize your chances of success.
The Buxton platform is comprised of essential data like competitive traffic, cotenant behavior and household psychographics. Once you've selected a location to grow your brand, you can use our data to optimize your operations.
Transaction data can help you identify your most popular products and services, allowing you to tailor your offerings to the needs of your customers. Maybe your ideal customer base responds well to promotional mail or BOGO coupons delivered via text message. With data, you can fine-tune your pricing and marketing strategies to ensure that you're reaching the right customers with the right message at the right time, using the right vehicle.
But data is not just about driving growth - science and analytics can also help you manage risk. By analyzing data on customer behavior and competition, you can identify potential threats to your franchise and take steps to mitigate them before they become major issues. We highlight stores that are performing better than expected or those that are losing market share to specific competitors. We also inform you of what mistakes those locations are making, whether they’re missing out on key traffic trends or marketing inefficiently.
Recruiting the right franchisees is another area where data and analytics are essential. By analyzing success rates, you can identify the traits and characteristics that are most likely to contribute to success as a franchisee. This allows you to target the right candidates and ensure that you're selecting franchisees who will help your business grow.
Finally, data and analytics can help you measure the success of your franchise operations. By tracking key metrics like sales and customer satisfaction, you can identify areas for improvement and make data-driven decisions to take your franchise to the next level. Instead of relying on guesswork or intuition, Buxton brings you the data to succeed.
At Buxton, we specialize in helping franchisors leverage the power of science and analytics to drive growth and manage risk. Whether you're just starting out or looking to take your franchise to new heights, we can help you achieve your goals.
Contact us today to learn more about how we can help you harness the power of data and analytics to unlock your franchise's full potential.