Your Franchise Marketing Budget Template: Information and Introduction

Publisher

by on

Comments Off on Your Franchise Marketing Budget Template: Information and Introduction
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 market as a whole.

No One Way is Correct


How to Calculate Your Franchise Marketing Budget

This template shows you only one of the ways in which you can calculate the marketing budget for your franchise business. It is not the only way you can do this, but it is a good way to do this.

Key to This Marketing Budget Template

"How to Fill in This Section" - here you'll find instructions for how to complete each section. (e.g. £_) - these italicised example figures can usually be found in the first cell of any table. They can be deleted after being read.

Calculating Your

Percentage of Revenue Figure The figure you decide on for Percentage of Revenue is very important. Some of the data you might base your decision on will include:
  • Strength of your brand and brand awareness in target market
  • The industry you're in
  • Your expectation for growth (revise up for greater projected growth)
 
Some sample figures might include:  
  • 3-5% - you're a well-established franchise business without a strong marketing focus
  • 8% - you're an established franchise and are targeting moderate or average growth
  • 15% - you're a relatively well established experienced franchise seeking large-scale growth
  • 20-30% - you're a brand new franchise

Franchise Marketing Budget Template


1. Marketing Budget as Percentage

of Revenue This section of your marketing budget will show your proposed marketing budget as a percentage of your revenue each month, and year.

Completing This Section

I. Enter your projected revenue in the table in (a) II. Enter your selected percentage of revenue to be used in marketing in (b) III. Multiply each monthly figure from (a) by your Percentage of Revenue and enter those into the table in (c) to get your monthly Proposed Budget IV. Calculate the sum of the monthly figures to get your annual Proposed Budget

a) Projected Revenue

Enter your projected monthly revenue figures for the coming year here:

b) Percentage of Revenue

Enter the figure you've decided on as the percentage of revenue you will allocate to marketing here (for more guidelines see the "Calculating Your Percentage of Revenue Figure" in the introduction section):        

c) Proposed Budget

Now use the Percentage of Revenue you've decided upon multiplied by your Projected Revenue per month to calculate your monthly and annual figures:      

2. Marketing Budget Spending

This section of your marketing budget contains details relating to how you will spend your actual budget in order to achieve the goals set out in your marketing plan.

Completing This Section

I. Complete section (2a) Staff and Consulting Costs by entering the projected spend for each activity on an activity by activity basis: e.g. staff salaries, staff benefits and ancillary costs, outside consulting fees for professional marketing companies, and all other activities you designate as falling under this heading II. Enter a sum total for all activities each month III. Repeat for sections (2b)-(2e)

a) Staff and Consulting Costs

Staff and consulting costs should include figures for activities such as: -Staff salaries Staff benefits and ancillary costs Outside consulting fees for professional marketing companies Enter your projected monthly figures for staff and consulting costs here:      

b) Online Marketing Channels

Online marketing channel costs should include figures for activities such as: Website design and development Website hosting costs SEO and content creation PPC advertising Social media marketing and content creation Email marketing   Enter your projected monthly figures for online marketing channel costs here:                    

c) Offline Marketing Channels

Offline marketing channel costs should include figures for activities such as:
  • Direct mail campaigns
  • Brochures and flyers
  • Banners, posters, and physical advertising
  • Telemarketing
  • Press releases and media relations materials creation
Enter your projected monthly figures for offline marketing channel costs here:                

d) Branding Costs

Branding costs should include figures for activities such as:  
  • Brand and campaign imagery creation and design costs
  • Envelopes, letterheads, stationary, etc.
  • Business cards
  • Packaging and other campaign-branded materials
Enter your projected monthly figures for branding costs here:  

e) Promotion and Marketing Materials

Promotion and marketing material costs should include figures for activities such as:  
  • Event location hire
  • Event promotion costs
  • White paper, presentation, and other content creation costs
Enter your projected monthly figures for promotion and marketing material costs here:                  

3. Marketing Budget Total

This section of your marketing budget allows you to match the projected Marketing Budget as Percentage of Revenue you calculated in (1) - sometimes thought of as a "top-down" approach to calculating your budget - with the Marketing Budget Spending you calculated in (2) - often considered a "bottom-up" way of calculating your budget.:

Completing This Section

I. Simply total the monthly sums of all the individual monthly costs in tables (2a)-(2e), and enter them in the table below. II. Total those figures and enter them as your Annual Marketing Total III. Take your Proposed Annual Budget from (1) and enter it as your Proposed Annual Budget IV. Compare

Totals

Enter the monthly sums of all of the marketing costs detailed in (2) here:    

Comments are closed.

blog post
Publisher

by Local Fame on March 09, 2021

Comments Off on Master Franchise Agreement Template

Master Franchise Agreement Template

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…

READ
blog post
Publisher

by Local Fame on March 05, 2021

Comments Off on How to Build Your Strategy Checklist?

How to Build Your Strategy Checklist?

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…

READ
blog post
Publisher

by Local Fame on March 04, 2021

Comments Off on How to Motivate Your Franchisees: 5 Problems You Might Be Facing – And Their Solutions

How to Motivate Your Franchisees: 5 Problems You Might Be Facing – And Their Solutions

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…

READ
blog post
Publisher

by Local Fame on March 02, 2021

Comments Off on How to Engage Your Network: The Franchisor-Franchisee Relationship

How to Engage Your Network: The Franchisor-Franchisee Relationship

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…

READ

    You will receive the PDF on your email

    By using this form you agree with the storage and handling of your data by this website. Read More

      You will receive the PDF on your email

      By using this form you agree with the storage and handling of your data by this website. Read More