You’re a franchise owner who needs to manage your real estate. What tools can help you succeed?

1 Location analysis

One of the first steps in managing your real estate is to find the best locations for your franchise units. You want to avoid oversaturation, competition, and low-demand areas, while targeting high-traffic, high-potential, and high-growth markets. To do that, you need to use location analysis tools that can provide you with data and insights on demographics, consumer behavior, market trends, and site suitability. Some examples of location analysis tools are ESRI, SiteZeus, and FranchiseBlast.

2 Lease management

Once you have found your ideal locations, you need to negotiate and sign leases that protect your interests and fit your budget. You also need to keep track of your lease terms, payments, renewals, and obligations. To do that, you need to use lease management tools that can help you store, organize, and access your lease documents, as well as automate your lease accounting, reporting, and compliance. Some examples of lease management tools are LeaseQuery, Visual Lease, and LeaseEagle.

3 Property maintenance

After you have secured your leases, you need to maintain your properties in good condition and comply with your landlord's requirements. You also need to handle any repairs, renovations, or emergencies that may arise. To do that, you need to use property maintenance tools that can help you schedule, monitor, and manage your maintenance tasks, as well as communicate with your contractors, vendors, and tenants. Some examples of property maintenance tools are UpKeep, ServiceChannel, and Propertyware.

4 Energy management

Another aspect of managing your real estate is to optimize your energy consumption and reduce your utility bills. You want to save money and resources, as well as improve your environmental performance and reputation. To do that, you need to use energy management tools that can help you measure, analyze, and control your energy usage, as well as identify and implement energy-saving opportunities. Some examples of energy management tools are Eniscope, GridPoint, and Zen Ecosystems.

5 Portfolio optimization

Finally, you need to evaluate and optimize your real estate portfolio to ensure that it aligns with your franchise goals and strategies. You want to maximize your return on investment, minimize your risks, and adapt to changing market conditions. To do that, you need to use portfolio optimization tools that can help you assess your portfolio performance, identify and execute portfolio actions, and forecast your portfolio outcomes. Some examples of portfolio optimization tools are CoStar, VTS, and REoptimizer.