Joel LibavaIf you’re the CEO of a food franchise, and you’d like to increase unit revenue, read on…
I know that you want your franchisees to be fat and happy. (With profits) I also know that your cost of doing business keeps increasing, which is really frustrating.
But, you’re the leader, and you’re in charge of solutions.
Use Geofencing
What is Geofencing?
It may be the answer you’ve been looking for. It’s tied to a huge trend; the increasing use of mobile devices for everyday activities.
Like eating. I’ll explain…
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Delivering value can also be enhanced by tapping into the convenience of meals provided by prepared meal services, which is particularly popular in big cities like New York.
Let’s say that Jill Stressball, a 35-year old mother of three, just picked one of her kids up from Little League practice, and needs to drop her other two kids off at soccer practice. Of course they’re all hungry, and she has about an hour to play with. While she’s driving around, trying to decide where to stop for a quick lunch, her phone starts chirping. She has her oldest take a look at the message coming in via text, and see’s that it’s from a restaurant nearby.
As a matter of fact, it’s only 3 blocks from her current location.
The text reads, “Today Only: Stop by for lunch, and your beverages are on us!”
She just decided where to bring the kids for lunch. And, geofencing made it happen. Here’s how….
From Mobile Commerce Daily;
“Geofencing enables retailers to recognize customers when they are within a predetermined radius around a specific location and send them messages and special offers designed to encourage them to walk into the store and make a purchase.”
Read more
They Opt-In
If you set geofencing up correctly, right from the start, you can have your potential customers opt-in. They’ll give you permission to notify them when they are in a specific geographic area that you can determine. For example, you can set up the system to only work within a quarter-mile radius of your franchise. Or a mile.
And, it’s not just food franchises that can use this cool technology to increase their revenues-and profits. Retail franchises can use geofencing, too.
Are your senses starting to awaken? Are you thinking of the possibilities?
Good!
Keep going!
About the Author
Joel Libava is The Franchise King® — an independent franchise advisor with 25+ years in the industry, two published books on franchising, and his writing has been featured in The New York Times, Forbes, CNBC, Entrepreneur® Magazine and others. In addition, he wrote exclusively for the U.S. Small Business Administration blog for eight years. He doesn't sell franchises. Instead, Joel helps you figure out if franchise ownership is actually right for you — and if it is, teaches you his powerful, proven-to-work franchise research techniques, so you can make a smart, informed decision on a franchise to own and be your own boss.
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