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Running a successful franchise in multiple locations and optimizing each one for maximum engagement and recognition in their local markets is definitely one of the most difficult tasks for a business leaders. Yes, you should trust your franchisees to do a stellar job and manage their branches in an efficient and effective way, but only if you have done your part of the job beforehand.

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So, what is your job? As a franchisor, your job is to create a strong overarching marketing strategy that will help every branch maximize its marketing potential while ensuring brand consistency every step of the way. To that end, here are the most effective ways you can create a winning franchise marketing strategy.

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In the business of duplicating concepts, the process of marketing and selling the model is new and unique to most. It could be compared to dating, fishing, hunting and many other catching metaphors, but from someone who has actively marketed and sold franchises for the past ten years, it comes down to a few key factors as to what separates the successful franchise marketers from the unsuccessful ones.

The first point to be aware of is that franchise sales and franchise marketing takes a budget. In 2010, I have personally been involved in 67 new franchise sale transactions...3 of those came to my clients through referrals or contacts they had prior to franchising their business. The rest of the franchise sales came through good old fashioned advertising. Yes, that's right, you do have to advertise to attract good franchise prospects. What I tell my clients in deciding what to budget for franchise marketing activities is twofold. One, budget something up front for a brochure, printed materials, a good website and other program pieces that are necessary to attract buyers. Then on a monthly timeframe, start out with a budget of $500 up to $1,500 per month for lead generation activities. Do not go into franchising without some kind of a budget for marketing the business.

The second point is take notice of in franchising is that you need to have a compelling story. I call this the unique selling proposition for a business concept. What the heck makes you different from every other business out there in the license/franchise/business opportunity world? If you can't say something to yourself in the mirror that makes you smile, you're probably going to have a hard time getting other people to find it interesting. Develop this value proposition and nail it down before you start talking to people. If there is one thing that I know about franchise buyer leads, it is that they have a short attention span....get it quick or you get hung up on.

The third issue is that if you don't like making a lot of sales calls and "working the phones", you need to budget for a sales person to do this for you. Franchising is a sales business, don't let anyone fool you. People don't walk in the door and hand checks over, it is a contact sport and takes hundreds and hundreds of phone calls to land franchise partners. A good franchise sales person will make anywhere from 75-150 phone calls per day. In many instances, I have personally called a good prospect over 40 times just to get a meeting with them regarding the franchise opportunity. Get ready to get busy, franchising takes leg work and activity. I love activity....it's easy to monitor and 99 out of 100 times, the sales people who create the most activity are the ones who close deals. Burn up the phones and you will see revenue in your franchise system.

The fourth note is that it's okay to be "out there". It is important to remember that you are probably one of several franchise opportunities that any buyer is considering. If you do not leave an impression on that buyer, they will very likely forget about you. Be aggressive and tell them what you are good at and how it will benefit them! The thing I love about franchising is that it helps people become entrepreneurs, which is the most empowering thing in the world. The thing I hate about franchising, is that the people you are dealing with are not sophisticated and have not been empowered yet! So it is up to you as a franchise sales person....or franchise consultant, to lead that person through the decision making process. My shortest sales times with franchise buyers have happened in cases where my sales pitch turned into a counseling session. I found out more about the buyers on the first call, I made compelling comments about things other than what I was selling and I really personalized the relationship. The next time you call someone, try this and see what kinds of results you get!

Franchising is an effective and powerful way to grow a business. The key with any new business venture is to approach the idea and business strategy with as much information as possible. So when you approach the idea of how to franchise my business, be ready to market and sell you franchise when you get into this business and more often than not you will develop revenue streams from your new business venture.

 

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How to Franchise - Marketing

Deciding to join a franchise family is a great opportunity with many benefits. Many of these benefits you will not receive if choosing to open your own independent business. You will receive training on the franchise system, you will be part of a big network that can provide assistance to you when needed, and you will be investing in a business that has a higher rate of success than an independently owned business. But another great benefit you will receive is a marketing advantage! Not only would you be buying a well known name or brand, but should receive additional marketing for your franchise!

When you decided to purchase a franchise you will need to consider the marketing plan that the franchisor provides. A marketing plan outlines the specific actions you intend to carry out to interest potential customers and clients in your product and/or service and persuade them to buy the product and/or services you offer. So, this is something that the franchisor will provide per your franchise contract with them. The marketing that the franchisor provides is a big reason why franchisors have a higher potential for success, so if you don't agree with the plan or there isn't one look for a different franchise.

Marketing for your franchise is an important facet to running your franchise successfully. You will want to ensure that your franchisor offers a great marketing plan that will help generate business for your franchise. The franchisor will have a fee that you will pay for marketing. Since, this is something that you will be paying for, so make sure you get the most for your money.

The marketing plan should cover such expenses as print advertisements, TV commercials, and direct mailings to both potential and existing customers. Also a good plan to look for is one that covers fees that you may pay for advertising agencies for in-house marketing. You want to make sure that you are reaching any potential customers so you will need to have advertisement in as many different forms as possible. For example, if you only put a newspaper ad out, only the people who read that certain section of the paper will see your advertisement. You will want to make sure that their plan is suited for what you are selling, and that it reaches out to a wide variety of people. You will be limiting your franchises success if your franchisor does not have a complete and effective marketing plan.

Another aspect to consider is whether the franchisor will listen to marketing suggestions from franchisees about future marketing. A good franchisor will, since this is a way to stay fresh with their marketing and gain many new ideas that can lead to successful for the whole franchise family. Times are always changing so in order to keep up with them you do have to change a little. What worked 15 years ago, is most likely not what is going to work currently!

 

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Businesses are realizing that they require a marketing agency that takes a holistic approach to their online web presence and digital marketing strategy.

Contact us today to learn more about Marketing your Franchise Business.


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Franchise Email Marketing Deals Oak Ridge

Franchise Email Marketing Deals Oak Ridge