Using digital technology: How franchisees optimize the success of your business

For entrepreneurs who want to successfully navigate their markets in the networked world of the 21st century, the use of current technology is an important instrument for increasing efficiency. This is especially true for franchisees who want to publicly highlight their franchise business and communicate intelligently. Based on the experience of the real estate franchise, Engel & Völkers describes how modern technology can profitably supplement franchise concepts and how your investment benefits from these opportunities.

Intranet technology for efficient data exchange in franchising

The concept of franchising lives significantly from the information and data advantage that it can offer its individual franchisees over a traditional investment:

A new franchisee will find a proven, well-functioning system that will provide him with a wide range of strategies, guidance and data for the successful establishment of the franchise operation through his licensing partner. Technological progress has created a digital space with the dimension of the intranet or extranet, in which the franchisor can exchange information with his individual franchisees and share the information material. This way, the integration of new measures or campaigns in the shortest possible time frame, and a continuous unity of the franchise network are ensured.

Target group-oriented advertising thanks to the social media and web presence of the franchisor

There is also great potential for the franchising sector in the public space of the Internet, via the various advertising options. Social media platforms such as Facebook, Instagram or Twitter are used by a large group of people who can be converted to customers for one's franchise business. Precisely tuned audience metrics help you reach exactly the people your offer is tailored to, so you can expect a high response rate to your ads. Multimedia formats such as picture galleries, videos or complete smartphone apps further emphasize the character of your franchise business and thus increase the number of customers.

Upgrading the franchise business experience with digital technology

Aside from purely digital spaces, as a franchisee you have additional options to enrich your business premises and retail space with technically innovative gadgets. For example, you can install information terminals in the entrance area that will give your customers a quick and compact overview of product range, location plan or customization options. In addition, orders could be placed at such a terminal, which can be picked up at the cash register or in the warehouse of your franchise.

Also, the logistics within your franchise can be upgraded by digital technology: Using micro-sensors, which is attached to shelves and outer packaging, today can determine exactly how large the stock of a particular product is - any time and in a matter of seconds. Automated reorders are also easily possible on the basis of this technology.

These and other technologies do not only relieve you as a franchisor, but also significantly relieve the burden on your entire team by enabling them to take over informational and physical work, in part through automated equipment.

Engel & Völkers as a pioneer in digital real estate franchising

From the point of view of Engel & Völkers, contributing and shaping the digital transformation is crucial for future-oriented success in the real estate franchise. For this reason, the development and optimization of technological possibilities in the field of real estate marketing plays an important role in our corporate philosophy.

An example is the Engel & Völkers system platform, which consists of a number of self-developed applications. On this basis, our real estate agents are always able to retrieve the current real estate offer in their license area, download important market data for consultation or sales pitch or to edit a real estate synopsis - even on the go with a smartphone or tablet. This way, location-independent work at Engel & Völkers takes on a whole new dimension.

Through partnerships with innovative companies such as Matterport, Engel & Völkers franchisees can offer their customers new marketing strategies, in this case, virtual tours of the three-dimensional real estate.

Through continuous development and openness to new technological trends, Engel & Völkers aims to remain one of the most successful service providers in the real estate franchise in the future.

Become a franchisee as part of the Engel & Völkers success story and open a real estate shop in one of our free license areas. If you have questions about real estate franchises, do not hesitate to contact us by phone or email - we look forward to hearing from you!