Technology makes things easier. You can text a friend, call a loved one far away, order your groceries on an app or even find true love online.
Brands, or rather smart brands, rely on technology to build more intelligent franchise systems because efficiency and effectiveness are key components ne.....
Brands, or rather smart brands, rely on technology to build more intelligent franchise systems because efficiency and effectiveness are key components needed for growth, development and ultimate success.
FranNet, a franchise consulting brand based out of Louisville, Kentucky, has redeveloped its technology system to better match potential franchisees with business opportunities through a new program called Proven Match.
FranNet’s Proven Match system uses a series of psychometric assessments to equip brands with intel about specific profiles in the system, which in turn allows companies to make informed decision about current and prospective franchisees.
“Proven Match helps take the guesswork out of franchise selection, bringing the entire process down to a science,” said Jania Bailey, President and COO of FranNet. “Ultimately, Proven Match is using assessments, not estimates, to find the best match between franchisee and franchisor.”
The program, which currently has 23 franchises on board, works in two parts. First, the Proven Match assessment archives existing franchisees based on their evaluation scores to let franchisors see the attributes of low, middle and high performing owners. Following, the test assesses prospective franchisees – and through a comparison of profiles –the process can identify those individuals that are most likely to be top performers within a system.
“The ultimate goal is to increase matches and to find the right fit for a brand at the very get go,” said John Blair, Director of Marketing for FranNet. “Through Proven Match, we want to help franchisors to bring on someone who is going to be a powerhouse in the industry and take the brand to the next level; we want to put the best performers in front of a company’s customers.”
As these franchise brands continue to grow, they can experience some wrong fits or “bad apples” in their system. To combat this issue, Virginia Beach-based Mosquito Joe, a mosquito prevention franchise, recently announced a partnership with Proven Match in order to protect the brand.
“Proven Match has given us clarity within our system and provides a solid structure to help our company grow in a strategic and smart manner,” said Kevin Wilson, CEO of Mosquito Joe, noting the brand inked its 100th territory in just two years of franchising. “We need to invest in these tools in order to support our expansion and ensure we are recruiting the best possible franchise candidates who will be successful in our system.”
Proven Match is essentially a useful tool for franchisors to assess compatibility, predict future success and find the right franchises for their business.
“With this new technology, we’ll be able to know who is a fit and who isn’t, saving both our franchise prospects and our brand time and resources,” Wilson added.