How to Choose the Right Franchise Management Software for Salon and Spa
As per the market on Franchising survey, salon and spa franchising has been a significant industry sector of the Indian economy, accounting for 10% percent of retail sales across 90 industries and generating one in nine jobs. The survey, conducted by the independent agency, said that approximately 1,50,000 salon and spa franchise businesses employed over 1.8 million people and contributed to the Indian economy.
One of the best ways to get a revenue share of this booming salon and spa industry is by incorporating salon and spa franchise management software in your business. Not only can salon and spa franchise management software help boost your revenue, but it can also increase business management and collaboration among your salon and spa franchise outlets located throughout the country in different cities and towns.
This article provides the essential tips and tricks for choosing the right salon and spa franchise management software for your salon and spa business based on your budget and business requirements. Let’s start with defining what salon and spa franchise management software is and how it’s necessary for your salon and spa business.
What is the salon and spa franchise?
Before defining what salon and spa franchise management software is, it’s important to understand the concept of a salon and spa franchise. In a nutshell, salon and spa franchising is a part of retail service business model between two parties – the franchiser and franchisee. The franchiser allows the franchisee to use its brand name and business model, based on a license fee to market services and products, which may also include a percentage of royalty sales revenue.
For example, in 2019 there are more than 80 percent of business Lakme, Naturals, Jawed Habib and other salon and spa brands are owned and operated by franchisees. A local business who wants to operate franchise of any of renowned salon and spa brand needs an investment of Rs 25 Lacks-Rs 2 crores, Rs 2.5 Lacks in liquid capital, and an average franchise fee of Rs 2,50,000. In the Indian economy, the franchise business model is most commonly used in restaurants, services, clothing, luxury brands, and hotel sectors and is growing at a very fast pace in beauty industry also.
So, how does salon and spa franchise management software fit into a franchise business? Franchise management software for a salon and spa business is a collaboration platform between franchisers and franchisees that helps to increase engagement between these two parties regarding marketing, sales revenue, branding, CRM, inventory management, lease payment, reporting, and other business aspects. The software helps franchisers to grow their business by hiring more franchisees, converting leads into customers, monitoring market performance of each zone and region based on real-time analytics, and streamlining operations. The salon and spa management software help to connect multiple franchise sites through integrated communications based on emails and notifications.
How do you search for the right franchise for your business?
The relationship between a salon and spa franchiser and a salon and spa franchisee should be a win-win relationship that is based on good fund management and investment. However, finding the right franchiser or franchisee is difficult as important criteria such as investment limit, cash capital, and percentage share or royalty on sales all must be considered. A salon and spa franchisee can list themselves so the franchiser can select them based on region, industry, and investment limit.
Collaboration is key to the success of your salon and spa franchise business. Salon and spa franchise management software can further help you to strengthen this collaboration, as it is cloud-based, which means your salon and spa franchise outlets can access your sales, CRM, inventory, and other data from their locations and update the data simultaneously with other franchise locations.
Do you really need a salon and spa franchise management software?
As a franchiser, you may be well-versed with how difficult it is to manage multiple franchise locations, especially if they are spread throughout the country in different zones and regions. How do you ensure that you maintain the quality standards and efficient operations that are followed in your central headquarters? One way to ensure smooth operations management is to automate your salon and spa inventory management, sales management, reporting, employee scheduling, and other features with the help of salon and spa franchise management software.
Here are some reasons how and why your business needs franchise management software:
Managing Standard Operating Procedures:
Salon and spa franchise management software helps you to monitor the inspection of your salon and spa franchise outlets based on best industry audit standards and checklists. The software stores historical inspection information of your spa and salon franchisee and uses on the set benchmark. As a result of this data, in-person inspection of your outlets is much faster as current data can be compared with historical data and any discrepancies can be spotted and mapped out.
Client retention is strongly dependent on their service quality and feedback in all your salon and spa franchisee outlets. Salon and spa franchise management software helps you to monitor client relationship management by monitoring employee performance, loyalty points redemption, and campaign promotions in a dashboard to drive more customers to your outlets. For example, Invoay helps to monitor in-salon client interaction based on sales figures and their feedback.
Salon and spa franchise management software also allows your franchisees to create their own limited marketing campaigns that can be shared with the head office and other franchise outlets. The central campaign management helps you to improve, monitor, and configure marketing initiatives in real time.
Increase inventory and supply chain:
Salon and spa franchise management software represents inventory data in a dashboard to help you get an accurate forecast of inventory levels in real-time. Orders can be placed based on min/max inventory levels that are linked with the supplier chain. The stock replenishment tool can be used throughout your salon and spa franchise chain, to let your franchisees view historical data and seasonal trends.
Popular salon and spa franchise management software
Once you have finalized the features that you would be looking for a salon and spa franchise management software, your next step should be shortlisting software that’s based on your budget and features.
Invoay is the best salon and spa franchisee operations management software designed for salon and spa franchise businesses for employee management and operation compliance. It also features reporting and alerts that help you to monitor your salon and spa business in real-time.
It also helps to streamline marketing operations throughout your salon and spa franchise outlets. Invoay software has got intelligent marketing platform for integrating your salon and spa business with professional marketing services as it allows you to optimize specific marketing channels through different types of modules.