Do you know if your locations are profitable, generating cash and building value? How are your locations doing compared to others? In what areas do they have the most potential for improvement? What is the dollar amount of improvement that’s possible? Where should the focus be?
LuminateTM software gives you and your franchisees and operators the answers by providing you with comparisons, rankings and benchmarks on all the key performance measures that drive profitability and cash flow in your system.
How about the general health of the locations? What is their current ratio? How about their debt to equity ratio that will come into play when they go to the bank for a line of credit or buy or lease equipment or need to budget for a move, upgrade their image or need to value their business for a resale. Do you have easy real-time access to their gross margins, labor and material costs?
Franchisees Have Been Begging For It
“We think we are doing pretty good out here. At least based on what we hear. But we don’t have any information or data. It’s just bits and pieces we hear from time to time talking to other people”. Could this be a quote from one of your franchisees? (Read on if the thought of it makes you cringe).
Detailed Comparisons & Benchmarks
At ZeeProbe, we have the ultimate tool to help you…
- Rank, compare, and benchmark franchisees on the key performance measures
- Put their financials at your fingertips
- Get them excited and motivated to create the kind of improvement and success you know is possible
- Analyze, understand and improve location level financial performance
You’ve tried it, right?
You’ve tried to get access to franchisee financials before, right? But you quickly found that once you received some financials (usually by fax) it was a painfully slow and incredibly labor-intensive process (not to mention error-prone) to manually enter the numbers into a spreadsheet so you could see the results.
FINALLY… You will be able to get detailed financial results from franchisees and operators electronically, regardless of the accounting system and their chart of accounts.
Imagine if you could automatically rank your franchisees in every key performance category that determines profitability in your franchise.
What if you could provide detailed financial benchmarks, best practices, and rankings to franchisees every month - All WITHOUT the use of time-consuming, inflexible and labor intensive spreadsheets?
And what if the rankings put a dollar amount next to every franchisee’s results that calculated the exact amount of additional profit and cash flow they could put to the bottom line by improving in that category?
Your support teams and the franchisees will both be looking at the same data, the same performance criteria, in the same format, at the same time – every month.
We solve that problem by electronically importing their financials and mapping their results to your common chart of accounts.
- Then you have visibility into what’s really going on at the location level.
- Get instant access to rankings, comparisons and benchmarks on all the key performance measures that define financial success in your system.
- Incredibly powerful information instantly available at your fingertips.
- Let us collect the data, store it in one central secure place and give you access real time on what you want to see while keeping the confidentiality of the franchisee books at all times.
- Run any comparative report on an individual location or regional or national basis on margins, costs, ratios and break-evens.
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Review and distribute benchmarks on key business performance indicators that you identify.
- Let the franchisee create a budget and you have immediate access for review and feedback. Now your field teams are providing real value by helping them plan out their next few years of performance.
- Encourage a franchisee to forecast revenues and expenses to able to answer the question. “My Profit and Loss Statement showed that I made a profit but what happened to my cash"?
Now, the new UFOC Item 19 rules regarding “Financial Performance Representation” will become a breeze while also reducing the risk associated with the old approach to receiving fax or limited financial representations from franchisees.
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