29 Jun, 2021
We’re delighted to announce that Fathom is now a supplier member of the British Franchise Association. The BFA has been responsible for setting high-quality standards for UK franchising since 1977 and offers a huge range of support, education, and advice for the franchise industry. We’re thrilled to work with such a great body that’s passionate about offering fantastic opportunities to UK businesses and people eager to invest with franchise brands.
James Sedgwick from the BFA told us “the BFA community represents not only franchisors but professional advisers and suppliers that partner with the BFA to help shape our standards. These relationships are critical in ensuring that franchisors can access the right advice and structure their business models ethically. We enthusiastically welcome our new members on board, and look forward to building a relationship and collaborating closely over the years to come."
From Fathom, Country Manager UK & EMEA Darren Glanville added “we are delighted to be partnering with the BFA; Fathom helps franchise groups demystify the day-to-day financial data into easy-to-understand, actionable insights, and helps franchises of all sizes plan with confidence using our Microforecasts and Business Roadmap features for scenario planning."
Fathom is a powerful tool for both franchisors and franchisees to better understand their numbers and share insights. Franchisors can visually rank, compare and benchmark all entities within the group, to see who’s performing well and who might need extra support. By analysing high flyers, you can explore how they are achieving that success and share that information in easy-to-understand reports with the rest of the group. Delivering insights and value to your franchises strengthens the relationship between you both.
But it’s not just ‘head office’ that can use Fathom, franchisees can too. Fathom can help you track results, hit budgets, unearth insights, and move more quickly towards your goals. Fathom updates daily, so you're always up to date on key metrics. You can review your performance against others in the group, and get personalised performance reports just for your business.
How Fathom helps franchise groups
Fathom enables you to easily create your own benchmark analysis. These features are particularly useful for franchise groups, as well as other multi-entity organisations. You can also segment the group in various ways, for example by location or size, or owner.
The compare function shows you each entity on a grid, with its size and position indicating its performance relative to its peers. The Rank tool lets you organise each entity against a specific KPI.
By benchmarking on-the-fly with your group’s financial data, you can see which franchise is the best performing, discover why that is, and share that with the other entities in the group. To find out more, read our guide to using Benchmarking in Fathom here.
If you’re interested in hearing more about how Fathom can help your franchise group, start your free 14-day trial using the link below or reach out to one of our customer success team members to find out more.
Written by Andrew Webb
Andrew is Fathom’s Content Strategist based in the UK. He has a background in journalism and has worked for companies like the BBC and HuffPost, as well as start ups in education and technology. Andrew has also published 5 food books and makes a great pie.