AI assistants for franchising
AI assistants for franchising
A good idea for your startup
Trend: The franchising sector is experiencing a significant trend: the integration of AI technology to enhance franchise operations. According to the European Franchise Federation (EFF), there are over 14,900 franchise systems in Europe and despite many challenges, the global market has a positive outlook, expecting a global CAGR of 9.58% from 2022-2027.
Investors' Bets: The challenge today is if you look at any one franchise brand, they typically have an average of three to five platforms in which they’re storing content that franchisees need to access. EZee Assist, which hopes to change this, has successfully raised $1.4 million (pre-seed).
EZee Assist's innovative approach involves an AI-powered assistant designed to provide franchisees with immediate operational support. This tool is based on the franchiser's original content, enabling it to offer precise and relevant answers to franchises' queries. The benefits are twofold: franchisees receive instant support around the clock, enhancing their ability to operate efficiently, while franchisers experience a reduced workload in managing inquiries. Such technological advancements are reshaping the franchising landscape, offering scalable and efficient solutions for business developement. After securing its first six pilots within a couple of months, EZee Assist has since converted three into paying customers, developed its full beta product, and is now in the process of launching its platform across over 175 franchisees.
As Alex Norman (N49P Ventures) said, "EZee Assist’s market opportunity is more substantial than it looks like at first glance, noting that almost any service or retailer can be a franchise.”
To-Do: Indeed, almost every business has the potential to be a franchise, which makes this model very sustainable. Considering the recent advances in generative AI and large language models, it might be a good idea to copycat this service for your market or design a similar solution for rapidly extending business that have to support new branches.
If you're unsure where to start, visit an incubator's page. If you already have a project and need funding for your startup, click here for more details.
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