Franchising is one of the business avenues through which you can gain more sales revenue, spread your brand, and get new opportunities in the form of new markets. The growth of a franchise takes time and calculated plans to succeed. Below are some of the franchise marketing basics that will help you grow your franchise.
1. Expand home base
Every franchisor wants to grow their franchise as fast as possible, but it won’t be successful when the initial business is not successful. The home base is more like the pacesetter. The other businesses will be looking at the home base for inspiration as well as learning on how to run on their own.
The success of the home base should also be the means to gauge the possibility of success of other businesses.
2. Allow organic growth
Franchisors tend to force things when the urge to grow the franchises grows. It’s not advisable though, let the franchise grow from the success of its initial business. Forcing the growth of a franchise is more like setting it up for failure in the first place. You will be expanding the business without knowing how to deal with emerging issues or being sure of its ability to grow.
You should also steer clear from injecting much money into the business to enhance growth. Injecting money will not be sustainable in the long run.
3. Perfect your business concept
The success of your business depends on how well you develop the business concept. You will need the concept in franchise marketing as you will be able to discern your growth rate. The concept will also enable you to choose the right people to engage in the process. Moreover, it will also determine the revenue allocation.
Having a clear, and easy to follow concept will be easy to implement and help the organization run as you will expect.
4. Be Ready to Evolve
The business world is never static. Changes in other factions of the society do impact businesses. Developments in technology have changed how businesses carry out transactions. Most of the businesses are embracing technology and online transactions. Politics also affect businesses by putting legislation.
You should have franchise marketing practices that are in line with the provisions of the law. They can be able to revolve around changes that come along in the process.
Be ready to have low returns or getting phased out if your business cannot evolve to accommodate the changes in the industry.
5. Build Clear Franchise relationship
Even in as much as the franchise will work on the same concept and products, they need to be self-sustaining. They should not rely on each other for all they need. You should, therefore, define the engagements that the different franchise will have with each business.
The independence of the franchise provides a good environment for each to grow without interference. This also goes a long way in avoiding conflicts of interests.
6. Create a strong brand identity
You must have a strong brand to grow the franchise, no doubt. People want to be associated with only the best brands. Hence, it means you have to put in the work to have your brand become big.
In the process of building your identity, you need to build good relations with the other players in the industry. You need to have a good business culture that will make you a brand that people want to identify with. You can also engage in constructive publicity work that will grow your identity. Also, have good public relations practices.
Having a great identity also comes in hand with having great products. It is the kind of products that you have which will help you make a name for your business. This will help your franchise become successful.
7. Working with strong franchise establishment
The success of your franchise depends on the kind of establishments that you work with. You need to work with strong franchise owners who will be able to spur growth and success of their respective entities. It is also easier working with the strong business leaders as most of the time they will have the leadership skills needed.
8. Have a streamlined process
Even in as much as every franchise has their styles of operations depending on the owner. Some procedures must remain the same in all franchises. This will increase the chances of success as you will be using the tested process known for success. It is also a great way to help build your brand and reputation.
A streamlined process will give you an avenue on how to go through any challenges that might come along the line of duty.
9. Offer resources and training
If at all you want a successful enterprise, you must invest in resources. You should also be ready to train the other individual businesses on how to grow the franchise. You need to avail all the tools as needed for the growth and prosperity of the other entities.
Training the personnel also gives you the opportunity to instill in the values, mission and whatever is expected of them to make your franchise a success.
10. Customer service
No matter the location or how big you have grown, the respect for the customers must be paramount. Great customer service is the basis for the success of your brand. You need to invest in giving the best customer service to your customers. Make them feel appreciated and react to their complaints as fast as possible. It is only then that you will be assured of success.
The great customer service should be replicated in all the businesses entities.
There are several other franchise marketing tips that you can apply to enhance success. But these are the top franchise marketing Basics that you must apply when building your business. It will help you grow your brand and reputation even as you grow your franchise.