Our executive team are experts in franchise development, franchise marketing, and small business. As such, our writings and articles about how to franchise a business or how to run a run a successful franchise development team are often published in leading industry magazines as well as other online knowledge bases. Some of those, such as Why Become a Franchisee, can be reproduced in full. Others are basically works-for-hire, and cannot be reproduced here in full, but our readers may find them of interest, so we decided to provide one page, with a synopsis of each article and a link. All of the articles linked on this page were written for Demand Studios.
The world is an ever-changing place, and communication continues to morph. nowhere is this truer than in the franchise sales department. The franchise sales process has changed from a franchisor-directed, controlled process where the prospect primarily gets the information the franchisor wants when the franchisor wants to a buyer-directed internet research process where the franchisor must fight to even stay in the loop, let alone be at the helm. This changing landscape affects the entire sales process, and future articles will address the changes to the sales process. Today, however, we will look at the changes the franchisor must make to how marketing and lead procurement is done. Not everything in the lead procurement process will change. In order to get on the prospect’s radar, franchisors must have a strong presence where people are looking when they are considering a franchise opportunity. Online add portals and franchise shows are still a must. The question is, what happens once they notice you? How does a franchisor control the conversation in the Information Age? The answer, in part, is content marketing. Content marketing allows a franchisor to control the conversation by serving up the content that the prospect finds during their due diligence process. By using a multi-channeled approach, including an online blog, press releases, social media, email campaigns, and portal and other advertisements, the franchisor can present a favorable and coherent story of your brand.
If your brand has a social media presence already, then your franchise development can springboard off of that. After all, your customer base is already interested in your product, you should offer them your franchise product as well. In order to use social media to properly tell your franchise story, […]
Are you wondering how to franchise a business? Are you wondering if franchising your business is the right decision for you? Then here are five things you should consider!
1> Do you have a proven concept?
You are asking people to invest in your concept, so you better have proven it. If you have an “idea” you want to franchise, go prove it first. Do the business that you want to franchise, for at least a year, before you try to franchise it.
2> Can your business model sustain a royalty?
Some businesses operate on low margins, and that’s ok! If you have a business that does $500K in revenue a year, and you bring 10% ($50,000) to the bottom line, and it doesn’t take up all your time, then a lot of people consider that a good business. However, if you were to franchise it, a franchisee doing the exact same numbers, but having to pay a 5% royalty back to corporate, would only be making 5%, or $25,000, to the bottom line. That’s not nearly as attractive.
3> Is your business scaleable?
Even if you have a proven, high margin concept, you still might not want to franchise. If there is something unique about you or it, it is still not fit for franchising. If you have a successful surf shop, which requires proximity to the ocean to succeed, you might be better served opening a couple of corporate stores. The same would apply to a ski and snowboard store, a boat cleaning business, or any other business that relies on proximity to the ocean, snow, desert, etc. Additionally, if it took you years to master your craft, or if you feel like you got lucky that your […]
You may wonder why a website that is dedicated to franchising would cover a subject like guerrilla marketing? After all, what You hear it all the time, “Guerilla Marketing”. But what is it, really? Guerilla marketing is non-traditional marketing strategies which are typically low cost, unconventional, and often are typically localized in scope. Guerilla Marketing, in short, is the life-blood of small businesses. Through the proper application of an effective Guerilla Marketing plan, every person within your local market (within 3-5 miles of your retail location) should know about your store, what differentiates you from your competition, and how to reach you.
There are as many ideas about Guerilla Marketing as there are small business owners, and there are a lot of books on the subject, too (I recommend Guerrilla Marketing by Jay Conrad Levinson). Obviously, every idea isn’t good, and even good ideas don’t work in all businesses or all markets. These ideas should work in most if not all retail stores, however.
Sign spinners visually engage traffic as they pass by your store. They help to raise awareness of the location of your store, and what products/services you offer. Sign spinners are most effective when they are close to an intersection, but, if that is not an option for you, get them on the road closest to your location. Here are some things to think about when you use sign spinners:
Not all spinners are created equal. Some sign spinners will sit out in front of your store and hold a sign. Others will actually spin the sign, dance, and truly engage the traffic in an entertaining manner. Watch your spinner in action, and if they don’t entertain you, they won’t entertain your customers.
This article first ran at franchise-update.com under their Challenge the Pros section.
Challenge the Pros
“How are technological changes affecting how you recruit, and how are the latest tools changing how your development department does its job?”
Vice President of Franchise Development
Play N Trade
Technology has become an essential part of every portion of the franchisee recruitment process. We are constantly trying to stay ahead of the technology curve. From the “old school” platforms of online paid directories to social media and other instant-reach platforms to employing an enterprise-solution CRM, technological changes are affecting how we manage every facet of our franchise development efforts. Technology in franchising must be a consideration for every franchisor looking to grow their brand.
Once we receive an inquiry from a prospective candidate, we truly bring our technologies to bear. Through the use of web-to-lead functionality and an auto-responder we can give an immediate response to all inquiries. Assignment rules ensure that the first attempt at live contact happens within minutes. After pre-qualification we conduct several live presentations sharing our desktop as we work them through the mutual evaluation process. All information and interactions are kept in a cloud database that can be accessed anytime, anywhere, from any computer or smartphone in the world.
Every effort, from initial advertising to the final closing attempt, needs to be quantified and tracked. Technology allows for extensive measuring of the metrics of sales performance as well. Not only do we track our advertising spends to identify where our advertising dollars are best being spent, we use our CRM to track stages of lead progression, to identify where potential bottlenecks might exist in the process and set key performance indicators, and at the same time assess each stage […]