CASE STUDY: DECISION MAKING THROUGH BETTER REPORTING
In December of 2019, Mike asked me, “Why are my delivery fees so high? There is no way we are paying UberEats 35% in fees” It had been a winding journey with Mike and his budding empire of quick-service food and grocery stores. The concept was still young but showed immense promise. After 18 months in business and some serious outside investment, Mike was ready for better reporting.
I had been working with Mike for only five months and knew we were still only scratching the surface of the value I could bring to his business. I told him, give me a couple of weeks, and I will develop a customized KPI report for your stores that we can review with the managers every month as well as give to your investors.
In January, we sat down with the store managers and presented our first dashboard. The 90-minute meeting lasted almost 3 hours. The KPIs and other information in the report spurred ideas to manage costs better and increase revenue.
Too many businesses today operate blind or with just basic reports out of QuickBooks. Better reporting can help franchisors provide support to the owners in their system. By assisting owners to be more successful through tracking specific KPIs, franchise systems can create real differentiators to stand out in a crowded marketplace. It is this sort of data and analytics that prospective franchisees are looking for.