Table of Contents Hide
- What is Franchise Marketing?
- Why Is Franchise Marketing Important?
- What is the Relationship Between Marketing and Franchising?
- What Are 4 Types of Franchising?
- What Is the Best Type of Franchise Marketing?
- Franchise Marketing Systems
- Franchise Marketing Strategy
- Franchise Marketing Agency
- How Do You Market a Franchise Business?
- What Does a Franchise Marketing Manager Do?
- Franchise Marketing Examples
Using digital marketing to promote a franchise can raise brand recognition, the number of qualified leads you receive, the number of sales you make, the value you provide your consumers, and the quality of the relationships you have with them. Franchise lead generation and marketing are crucial to expanding your clientele and increasing your revenue, no matter the size of your organization. This is not a simple undertaking, though. It takes careful management and preparation to implement a successful franchise strategy in the face of these marketing hurdles. A successful brand strategy that grows your home market necessitates a strategic allocation of your time and resources between enterprise-level marketing and direct assistance to individual franchisees. This piece focuses on all you need to know about the franchise marketing system including the strategy, agency, and common examples.
What is Franchise Marketing?
Franchise marketing is the process and method of using a variety of marketing strategies, such as radio advertising, digital marketing, print advertising, and commercial advertising, to build brand equity, increase brand recognition, and generate revenue for franchisees.
As it stands, most businesses with multi-locations have transitioned their intense focus to digital marketing as well as franchise advertising to help bolster their company’s marketing system while also supporting franchise development in response to the growing number of clients as well as stakeholders who rely on online platforms to collect facts and discover local businesses.
So, is your organization also making use of a comprehensive franchise marketing guide that is backed by statistics to direct your enterprise’s internet marketing strategies and tactics? If not, then probably, you need to. Moreover, mastering the ins and outs of franchise web marketing can help you connect with prospective franchisees and move your business marketing management efforts forward.
Why Is Franchise Marketing Important?
Franchise marketing involves the practice of developing and implementing a plan to increase awareness of a franchise’s brand. In a franchise marketing system, franchisees own and run their own locations while the original company (the franchisor) retains trademark rights to the franchised name.
When done well, franchise marketing can benefit both the franchisor and franchisee, contributing to the development of a strong brand and an increase in new business for the latter. Hence, everyone stands to gain from this type of advertising.
What is the Relationship Between Marketing and Franchising?
Marketing and franchising are two distinct but related business functions. To develop an effective marketing plan, however, franchisors and franchisees must cooperate.
One of the best solutions for franchisors could be the use of a local advertising platform to meet the particular needs of each franchise. By leveraging the right franchise marketing systems, franchisors can tailor their marketing efforts to target specific regions or markets where their franchisees operate. This allows for a more localized and targeted approach, taking into account the unique characteristics and preferences of the local customer base.
What Are 4 Types of Franchising?
Purchasing an existing franchise may be the missing piece for your business. It provides you with an established brand and operating framework as well as training and support to enable you to create a prosperous business for yourself but not just by yourself.
Business franchises generally fall into four broad types;
- Area Development
- Master Franchising
What Is the Best Type of Franchise Marketing?
Although there are many various strategies to promote a franchise, in recent years digital marketing has dominated franchise marketing nearly entirely.
Working in the digital sphere is more successful and effective than traditional marketing, and it has several benefits that make a franchise system the ideal candidate for it.
Franchise Marketing Systems
Chris Conner created Franchise Marketing Systems in 2009 as a practical choice for brands to successfully franchise a business. A group of franchise experts with expertise in many areas of franchising created the company. With Franchise Marketing Systems, Mr. Conner set out to realize his vision of a dynamic and performance-based franchise development system that would bring together the essential elements of franchise development as well as the setting up of systems required to franchise a business with the marketing, management, and execution necessary to make a franchise a success. With Mr. Conner’s leadership, the company has grown to include over 25 franchise consultants in the US and Canada. In addition, it can now implement franchise development programs on a global scale.
Franchise Marketing Systems Performance-Based Franchise Development
Franchising as a means of business growth is not a short-term strategy, but rather an investment in long-term relationships. Franchise Marketing Systems generally partners with business owners who are either new to franchising or who want help expanding an existing franchise model to give full-service franchise management and marketing advice. With Franchise Marketing Systems, franchising a firm is safer and cheaper, while also providing the opportunity for a more long-term cooperative relationship with all parties working towards the same goal: Effective Scaled Growth.
Franchise Recruitment and Marketing
To help clients build their franchise sales and marketing teams, Franchise Marketing Systems partners with independent franchise brokers. The goal, basically for new franchisors, is to present the brand as an extensive, well-established system that provides value, resources, and infrastructure. Often times the hardest barrier to expansion for a new brand is marketing the first 5-10 franchises. That is to say ensuring the correct tools, leadership, and systems are in place is important to accomplishing this initial step in franchising and reaching critical mass.
Franchise Execution and Coaching
If you want to expand into new areas and create a franchise or licensing model that will appeal to buyers and investors, then Franchise Marketing Systems will help you do just that. The fundamental idea behind a franchise is to provide a firm that can demonstrate development and opportunity to a buyer. In addition, they also help emphasize the importance of the franchisor’s guidance and support.
Franchise Support and Management
Franchise Marketing Systems also help clients take care of all the expanding demands and crucial parts of running a successful enterprise. There are KPIs that, as in any business, need to be met in order to ensure the best possible outcomes for both the franchisor and the franchisee. The consultants at Franchise Marketing Systems help their clients in a number of ways. This may generally include providing training, support, direction, and management of their franchises.
Franchise Marketing Strategy
One of the most challenging jobs for a business owner is overseeing a franchise network with several locations. That however is one side of it, making sure that each one is doing its best in terms of customer engagement and brand recognition in its specific region is the other. Only if you’ve done your homework can you have faith in your franchisees to run their locations like clockwork.
Moreover, one way a small business owner can grow his enterprise’s visibility in the marketplace without spending a fortune is by employing a franchise marketing strategy. While assuming the role of the franchisor, he grants another entrepreneur (the franchisee) permission to use the franchise’s trademarks and methods of operation in a separate company venture. By offering franchises, a firm can increase its income through two channels. First is the initial franchise fee. The other part; is continuous royalties based on a percentage of sales from the franchisee’s location. In addition to boosting brand awareness, franchising can boost the financial value of a company by increasing the number of locations it owns.
However, it is your responsibility as a franchisor to develop an effective overarching marketing strategy that will allow each location to fully exploit its marketing potential while maintaining a high level of brand uniformity. Below are the best approaches to develop a successful franchise marketing strategy in order to achieve these goals.
#1. Think of Your Ideal Franchisee
Identify the abilities and information required to successfully run a franchise location. Determine whether prior success in entrepreneurship or experience in your sector are requirements. The franchisee will be committed to operating the business as efficiently as you do and upholding the standard of customer service you demand if they have a love for the industry you are in. Make a list of inquiries to pose to potential franchisees. Make sure to thoroughly vet applicants; you don’t have to accept everyone who is willing to pay the franchise cost. Before you start promoting your franchises, make the profile so detailed that you can visualize the ideal franchisee.
#2. Create a Rollout Strategy
Choose the pace at which you wish to expand your franchise network. One approach is to launch the franchise program gradually, with just one or two sites, and ensure that these initial franchisees are profitable before accelerating the expansion strategy. You will find it simpler to attract new franchisees if you have early successes. One factor is geography. To be able to be present for their debut and serve as a continuing advisor, you might wish to sell the initial franchises close to your house ideally within driving distance. How far apart the franchisees should be is a crucial question. Customers shouldn’t be drawn away from your company-owned businesses or from one another by the franchise sites.
#3. Create Marketing Materials
The information you provide to potential franchisees must make it crystal apparent why buying a franchise from your organization is a fantastic business opportunity. The predicted growth rate of your industry is one factor in this. Describe your competitive advantages or the reasons why customers should choose you over your rivals. So that franchisees can understand what to anticipate in terms of both income and expenses and develop financial estimates for a standard franchise location. The franchisee must also be aware of the support services you provide in order for her to be successful with the business. The franchisee should be able to use your well-documented operating procedures as a guide when starting their business. The managers and personnel at franchise locations should also receive training.
#4. Spread the message
Use your website to attract potential franchisees. Use social media to drive traffic to a page you’ve created to promote your franchise scheme. Every day, your consumers may be potential franchisee prospects at your current sites. Provide them with information about your franchise scheme to read or take home. Make use of free advertising by telling the media when the inaugural franchise store opens. Franchise seekers who read about it might get in touch with you. Reserve a space at the franchise as well as business opportunity trade events if your budget allows for it. Another method of contacting potential franchisees is promoting in potential investment magazines. Another trustworthy source of prospects is your connection with business associates; ask them to recommend you to others who are wanting to start a business.
Franchise Marketing Agency
A franchise marketing agency has experience with the franchise sector. They collaborate with the franchisor to create programs that support activities like lead generation, prospecting, and the conversion of prospects into customers. Additionally, they develop unique initiatives and collaborate with particular franchisees to implement regional marketing strategies.
How Do You Market a Franchise Business?
It is essential for both the franchisor and the franchisee to have a franchise marketing strategy or plan in place before beginning to promote the franchise firm. Beginning with an explanation of your motivations, your intended readers, and the niche you’ve carved out for yourself in the market, this paper lays the groundwork for success. Finally, it delves into the finer points of how you intend to expand your brand’s reach via channels like social media, email, PR, and more.
What Does a Franchise Marketing Manager Do?
The goal of the Franchise Marketing Manager is to increase ADP’s market share among the franchise brands with which it has contracted. A franchise marketing manager’s key tasks will include tradeshow and event project management, as well as assisting with go-to-market strategy and reporting.
Franchise Marketing Examples
While there are numerous examples of franchise marketing, a few of the most successful ones in the US include restaurant and food chains such as;
- Pizza Hut
- Burger King
- Dunkin’ Donuts.
Other examples may include among many others;
- Tax preparation services
- Auto rental businesses
- Shipping companies
Marketing is crucial in the franchise game. Basically, it’s the engine that drives the whole thing, and if it’s working properly, everyone benefits immensely.
Franchise marketing is crucial since it aids both franchisors and franchisees in achieving their respective goals of increasing sales while also expanding their customer bases.
One major benefit of franchising is the speed with which a company or brand can grow in comparison to when the business owner works alone. You’re increasing your brand’s visibility, income, and the number of things you can sell by taking advantage of other people’s money, time, and effort.
- HOW TO START A FRANCHISE: Meaning, Examples and How to Get One.
- BUYING A FRANCHISE BUSINESS: Benefits, What to Look For & Best Practices
- FRANCHISE OPPORTUNITIES: The Top Best 21 Options
- FRANCHISE: What It Is and How It Work
- THE 21 BEST LOW-COST FRANCHISE OPPORTUNITIES 2023 (+ Free Tips)