DENVER--(BUSINESS WIRE)--On January 24th iConnect, the leading Cloud-based point-of-sale system for modern franchises, has announced the “Franchise Upgrade Program.” Companies will now have the opportunity to transition into the modern Cloud POS platform by applying for hardware subsidies in return for system-wide rollouts. iConnect has dedicated half a million dollars towards the initiative.
“We’ve been getting many inquiries about our Cloud POS system from franchises all over the nation,” said Subodh Gupta, Founder and President of iConnect. “So, we’ve put together a program that helps franchises and Franchisors upgrade outdated POS systems to a modern hardware and platform at costs that are affordable.”
This is a unique fund, the first of its kind, that puts dollars towards directly subsidizing hardware upgrades at a time when rising costs of doing business are eating at the bottom line of businesses in many states.
Franchise systems face unique challenges and opportunities. "Rising minimum wages, new legislation, and fierce competition are putting a squeeze on small businesses all across America,” said Ryan Hicks, VP at iConnect. “Our mission is to invest today to help franchise systems grow and improve unit profitability for the next decade and beyond.”
The fund is overseen and distributed by a committee of five franchise industry veterans that have more than 100 years of collective experience in franchising.
The company currently serves many franchise systems in the top 100 of Entrepreneur Magazine's 2017 franchise 500 list. iConnect is looking to partner with modern franchises and Franchisors in the retail, restaurant, and beauty sectors.
“iConnect is a huge advocate of the International Franchise Association, and interested applicants for funding must either be a member or become a member of IFA to meet funding qualifications,” said Ryan Hicks.
Interested franchises can view the full list of qualifications and start the application process here.
About iConnect:
iConnect was founded by Subodh C. Gupta in 2005 as a custom software development firm in beautiful Denver, Colorado. Today, iConnect POS is rapidly expanding its team and client base in the US and beyond. It has found large success in both main street and corporate America, with a particular passion for serving franchise organizations.
