by Local Fame on March 10, 2021
Developing your franchise marketing budget can be as simple or as complicated as you like. The more detail you put in though, the more accurate your final budget will be. Your budget will rely on both past financial and other data you’ve collected from operating your franchise system, and data collected from your industry and…
Master franchising is a great way to expand your business into new territories. To carry out master franchising successfully though, you’ll need a well written master franchise agreement. Why Expand Through Master Franchising? Master franchising is one of the most popular and successful ways to expand a franchise system: Around 3200 out of 7500 worldwide…
Many franchise businesses plan tactically for how they’ll spend their marketing budget. Successful franchise businesses have overall goals and strategies for things like pricing, sales, distribution, and customer retention. Your goals should always be quantitative numeric figures that can be measured. In all aspects of execution, the overall stated goals of your marketing plan should…
Any number of problems can arise as a franchisor-franchisee relationship develops. Let’s take a look at some suggested solutions for some of the most common problems relating to franchisee motivation: Problem 1: Initial franchisee-franchisor sours after initial agreement At the start of any new business venture, especially a franchise agreement, both sides will be keen…
Using Encouragement Not Enforcement Tactics in Your Franchise Network Not long ago, the franchisor-franchisee relationship was viewed in similar terms to any other employer-employee dynamic: The franchisee owed responsibilities to the franchisor. The franchisor needed to closely monitor and enforce standards to ensure that the franchisee kept working as hard as possible to improve their…
Mission This section describes your vision for the future. Vision Statement Mission Statement Goals This is your plan for the future of your business. Your vision statement should be more inspirational than practical, and feature elements such as your core values. This describes how you plan to achieve your future in more practical terms. Talk…
Truly effective franchise training systems are never one-trick ponies. Covering a multitude of topics in a number of different ways ensures maximum knowledge retention, and the most efficient, engaged, and motivated personnel to populate your franchise network with. The types of training you might want to feature in your program include: 1. Headquarters Training This…
Engage with your audience via multiple channels to send the most powerful message. Different channels allow you to engage on different levels while still keeping your message strong. Combine the following ideas into a cohesive strategy and make sure you’re conducting truly cost effective franchise marketing: 1.Display Advertising and Pay-Per- Click Advertising (PPC) Paid advertising…
All of the most successful franchise marketing plans have certain things in common. Avoid common mistakes and get the best results with your new plan by making sure that you: DOs 1) Have multiple smaller goals within your overall plan Achieving the overall goal of your franchise marketing campaign – which as always, should be…
Consistency gives your brand the power of being recognisable. Picture any of the biggest franchise names in the world. You’ll instantly be able to describe their logo and some of their values. Why? Because you’ve been consistently exposed to those values every time you come across one of that franchise’s locations, whenever you’ve seen their…
