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!
So, make sure that you find a franchisor that provides you with a great marketing plan, since that is what they are supposed to do to keep the entire franchise family successful!
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