Identifying a profitable location for your business is not only an arduous task but the very thought of estimating profit vs. loss can be daunting. In this profit vs. loss dual, franchise territory mapping software can be the ultimate guide to expand your business, maximize success and minimize the stress and worries. It can show you what kind of area you would be working in, and how much profit it could bring. This software builds a map to match the location, your data with demographic and business-related variables and sets up a sales-ready market for you.
It is a somewhat time-consuming and challenging task to pinpoint an ideal territory from lists and spreadsheets. In fact, this practice will undoubtedly leave you frustrated and, unfortunately, not fully informed of the area selected for investment. By utilizing Franchise Territory Mapping Software, the same decisions can be made with precision and accuracy.
- Visualize your information geographically.
- Show the availability of the potential territories by color codes.
- Show the State, county, census tract, and census block group.
- Run analysis by radius, drive-time or even custom hand-drawn areas too.
Visual Reports and Maps
As the franchisor, you have done comprehensive analyses to ensure that your franchisees will be a success, but how do you prove that to them during the sales process? You need to show them. Since the human brain can process visual information 60,000 times faster, the software displays the following visuals:
- What the area looks like
- How would you operate in the area
- Whether the area is suitable enough for your franchise with enough sales potential via demographics, psychographics, etc.
- And most importantly, your success ratio.
GeoMetrx can provide all the statistics that you need for your franchise decision-making. Gender, population, income, age, are some of the data used by Franchise Territory Mapping Software to provide you with valuable insights to business decisions.
The information this software provides not only helps you build new territories but also analyzes existing franchises as well. It determines the realignment of the area and gives you up-to-date demographic and business development data. Moreover, it can also upload and include your data, for example, sales revenue by ZIP, into the visualization.
Maps and Their Portability
Territory maps may be used in various formats, such as an image in JPEG to PDF format. Maps can be exported to Excel for different analyses. Sharing territory reports and maps with your new and existing franchisees is another plus point of the software.