So you’ve done your research and purchased the franchise of your dreams. You’ve asked the right questions to ensure that you’ve made a safe investment. Now what? How do you make sure your franchise succeeds and how do you make sure that your investment is truly safe? GbBIS, a leading provider of geography-based solutions, gives you the tools to better manage your franchise.
Franchises are a “pre-tested business model, (have an) operating plan and playbook with which to run the business,” Charles Green said at a webinar. They are viewed as safer investments than building your own business from the ground up. But franchises can still get into trouble without the right tools.
One entrepreneur, Jerry Chautin, who “financed a new restaurant for an experienced owner with a history of industry success,” tells his franchise story. Apparently his business venture “didn’t work. [The owner] catered to a young and fickle drinking crowd and paid less attention to his food menu. And when a trendier watering hole opened in the neighborhood, the borrower’s customers’ loyalty waned and the business closed.”
Franchises need to know their customers: their demographic make up, their locations, and their spending habits. GbBIS offers the most accurate demographic data to franchises that want to become familiar with their target market. Our demographic data includes age, population, gender, product consumption statistics, and much more.
What is also obvious from Jerry’s anecdote is the need for a franchise to know its surroundings. You need to know the competitors in your area and how close they are to your customers. With GbBIS business reports, you can create spreadsheets displaying the information important to you. We offer drive time and distance reports, showing you how many competitors are within a certain drive time or radius distance of your location. With geography-based tools from GbBIS, your franchise will be better informed and have a greater chance at success.
Contact GbBIS today and discover how our maps, web applications, reports, and databases can help your franchise succeed.
Visit Us on the Web at gbbis.com
Call Us at 1-877-447-6277
Image 1,4 via gbbis.com, Image 2 via restaurantsecuritycameras.com, Image 3 via gaebler.com