Dynamic Benchmarking For Franchises
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Stack-Up™ is an online benchmarking service by Dynamic Benchmarking that allows businesses, particularly in professional associations and franchise systems, to compare their financial and operational metrics with peers in real-time. The platform includes customizable metrics, secure data management, and features like year-over-year analysis and peer comparisons, enabling businesses to identify areas for improvement and success strategies. Benefits include empowering franchisees, fostering competition and collaboration, and providing insights for long-term planning.
Dynamic Benchmarking For Franchises
- 1. An Introduction to Stack-up™ by Dynamic Benchmarking™ Dynamic Benchmarking is the continuous and productive study of business performance relative to peers
- 2. What is Stack-up™? Stack-up™ is an online benchmarking service that provides real-time performance comparisons of financial, operational, procedural and best practice metrics. It is currently offered to two industries • Stack-up for professional associations builds a central source of industry data while helping member businesses identify areas for incremental revenue, cost savings, service improvements and more. •Stack-up for franchise systems offers franchisees and franchisors insight on financial, operational and key performance data points through dynamic peer comparisons and can be integral part of the franchise recipe for success. Each client solution is customized with unique metrics, filters, reports and branding.
- 3. How Does it Work? Business 1 Instant Peer Comparisons Business 2 Online Database Year over Year Analysis • Operational and Business 3 financial metrics • Key performance Pre-configured indicators PowerPoint Reports • Annual, quarterly or Business 4 monthly data Aggregated Data Business 5+
- 4. The Development Process • We consult with you to develop the metrics, filters, reports and KPIs that are specific to your franchise system • We can provide data integration services for automatically populating metrics • We design the platform to be fully branded for your system • We provide product launch training to both the franchisor and franchisees and offer on-going training as needed
- 5. The Franchisee Experience • Franchisees log into the franchise system branded website using a unique user name and password. The web-based platform is secured with state of the art firewalls and data encryption. All data is password protected to ensure anonymity. • If data is not completely supplied by the franchisor, the franchisee may answer questions on a monthly, quarterly or annual basis. • Franchisees compare their business to their franchise system peers on every metric. All comparisons include the specific franchisee data point compared to aggregated data of other franchisees in percentile format. • Using filtering, franchisees dynamically select peer groups using profile and attribute based selections such as years in business, location, revenue for more relevant comparisons. • Franchisor defined PowerPoint reports display key performance indicators in graphical format for additional comparative insight.
- 6. Stack-up™ is branded for your system You supply the product name, logo, graphics and color scheme for complete branding.
- 7. Main Gateway Page Three Main Tabs for simple Navigation My Company -Enter data or review pre-populated data Compare Companies -Compare your company to other franchisees Reports and Charts-Download PowerPoint charts Questions are grouped into major categories. Click on the gray sub- groups to see questions. The Progress Bar and Question Tallies are available if desired.
- 8. My Company Page-Input data Main Menu - Use this menu to navigate anywhere in the site Sub-group Tabs –Move from one question group to another by clicking on these tabs. Metrics – Enter answers for each question by choosing from a drop down list or typing in responses. The blue help text explains the intent of the metric.
- 9. Compare Companies-Line Charts For each question, the line charts show: •Your answers (in blue) on the top of the line • 25th and 75th Percentile • Median (in black) below the line • Pop-up charts provide more details about the data that makes up the results.
- 10. Compare Companies- Filtering Use filtering to create peer groups on the fly and compare yourself to a subset of your peers. Filter settings can be saved for future use by designating them a “Favorite”. A message will indicate the number of companies that match your selected criteria. If a franchisee “drills down” too far, there will be a message indicating that there are not enough companies to display results. This protects the anonymity of the other businesses.
- 11. Reports and Charts Download pre-configured reports that each contain multiple charts and graphs . Use for presentations, to capture historical snapshots and communicate with others.
- 12. Sample Reports
- 13. Benchmarking is for all brands Small Create culture of Empower franchisees information sharing Facilitate mentors and Build framework for peer groups others to follow Newer Established Build teamwork Replicate the proven path Open lines of communication Share success stories Large
- 14. Summary of Benefits • Franchisor benefits ▫ Empower franchisees ▫ Build camaraderie/competition among franchisees ▫ Identify areas that need improvement system-wide ▫ Define the path to success • Franchisee benefits ▫ Take charge of your business ▫ Gain wisdom of the crowd/experience ▫ Plan for success (1 year, 5 years, 10 years) ▫ Get the complete formula
- 15. Contact us to learn more about how we can help you bring the power of benchmarking to your franchise system. Dynamic Benchmarking 603-686-7113 info@dynamicbenchmarking.com www.dynamicbenchmarking.com