how to create a media franchise

A successful media franchise needs: Memorable and interesting character names Episode Titles that convey something about the story or ‘episode’ being told A central hook and resonating themes for each character

Full Answer

How do I start a franchise?

1. Evaluate your business. The first thing to create a franchise is to ask yourself if your business is ready or not to be franchised. In addition to having a good number of sales and profits, there are other aspects that should be taken into account.

What is a media franchise?

A media franchise, also known as a multimedia franchise, is a collection of related media in which several derivative works have been produced from an original creative work of fiction, such as a film, a work of literature, a television program or a video game . A media franchise often consists of cross-marketing across more than one medium.

How do the highest-grossing media franchises make money?

Today’s infographic from TitleMax illustrates the highest-grossing media franchises, and dives into how they generate their revenue and adapt to new mediums in changing times. According to the infographic, the majority of franchise revenue comes from merchandising. Video games, comic books, and Japanese manga are also significant drivers of income.

What is an example of a franchise?

This includes media franchises that started as a book, film, video game, comic book, animation or television show, and have expanded to other forms of media.

What makes a media franchise?

A media franchise, also known as a multimedia franchise, is a collection of related media in which several derivative works have been produced from an original creative work of fiction, such as a film, a work of literature, a television program or a video game.

Which media franchise is most successful?

PokémonThat's right. Pokémon — not Mickey Mouse — is the highest-grossing media franchise as of 2022. The Japanese franchise debuted in 1996 with 150 characters or “pocket monsters.” Over the years, Pokémon has earned over $100 billion worldwide, according to Statista.

How does a movie franchise work?

Franchise movie is a movie collection which has stories from the same universe. It also knows as the movie series. They made because of the fans who are consistent to follow the franchise. Marvel Cinematic Universe is the example of a franchise.

What is a media mix project?

The goal of media mix projects is to blend multiple concepts into a set of characters who can exist across art forms.

What is the number 1 franchise in the world?

McDonald's The company enjoys over $90 billion in global sales and represents the largest franchise network in the world.

What is the biggest movie franchise?

the Marvel Cinematic UniverseAs of 2022, the 29 films of the Marvel Cinematic Universe form the highest-grossing film series even when adjusted for inflation, surpassing J. K. Rowling's Wizarding World (11 films), Star Wars (12 films), Ian Fleming's James Bond (27 films), and J. R. R. Tolkien's Middle-earth (6 films) series.

How many movies do you need to franchise?

Films that are considered franchises in this compilation meet most of these criteria (in summary): they normally have at least three significant films in the series (including sequels)

Why are movie franchises so successful?

A franchise's greatest strength, however, is its characters. Beloved characters can carry even weaker entries and keep audiences invested. One of the advantages of a franchise is getting to watch characters grow and learn over multiple installments, and audiences will sometimes follow these journies for years.

What is a series of 4 movies called?

A tetralogy (from Greek τετρα- tetra-, "four" and -λογία -logia, "discourse"), also known as a quadrilogy, is a compound work that is made up of four distinct works.

How do you plan a media strategy?

Media Planning StrategiesSelecting Relevant Media Channel(s) Media planners have choices when it comes to the channel or channels they select for sharing a piece of content. ... Determining the Relevant Timeline. ... Coordinating the Channel Mix. ... Leveraging Audience Targeting. ... Setting Reach and Frequency Goals. ... Choosing a Voice.

What is a TV franchise?

In the United States cable television industry, a cable television franchise fee is an annual fee charged by a local government to a private cable television company as compensation for using public property it owns as right-of-way for its cable lines.

Who deals media mix?

Usage of media mix It is majorly used in the marketing industry. It is considered to be one of the masters marketing strategies and should be inculcated by all the businesses that are planning to grow at a rapid rate and survive in the industry for the longest time.

What is the top 10 selling sci fi franchise?

10 Highest-Grossing Sci-Fi Movie Franchises Of All Time7/10 Star Trek - $2.3 Billion.6/10 Avatar - $2.8 Billion.5/10 The Hunger Games - $2.9 Billion.4/10 Transformers - $4.8 Billion.3/10 Jurassic Park/World - $5 Billion.2/10 Star Wars - $10.3 Billion.1/10 Marvel Cinematic Universe - $22.6 Billion.More items...•

Which anime made the most money?

Demon Slayer the Movie: Mugen Train has a massive lead over every other anime movie in terms of being the highest-grossing anime movie. It's unlikely to be replaced from this position anytime soon. For those who don't know, this film is a part of the extremely popular Demon Slayer series.

Is Harry Potter the most successful franchise?

It's only recently that the Spider-Man franchise took Harry Potter's third place as the highest grossing franchise. It's all thanks to the release of the latest Spider-Man: No Way Home movie, which has grossed over $1.53 billion worldwide.

How much money has JoJo anime made?

JoJo's Bizarre Adventure - $9.8 Billion JoJo is still going strong with new episodes having been produced within the last few years. The recent interest has sparked the release of new merch, helping reach the rank of one of the highest-grossing anime of all time at $9.8 billion.

Do franchise owners make money?

Although franchisors cannot forecast income, as a franchisee, you can definitely make money. It’s important to assess your costs regularly and make...

Are franchise fees paid yearly?

Franchise fees are usually on a monthly basis. The fee is a percentage of your revenue, and the royalties can range from 4% to 12% per year.

How much does the average franchise owner earn per year?

In a study from Franchise Direct, the average franchise owner makes $80,000 a year before tax. However, the range of income is quite large: anywher...

What kinds of franchises are available?

In general, there are three types of franchises available: business, management and product distribution. A business franchise gives you the rights...

How do multimedia franchises develop?

Multimedia franchises usually develop through a character or fictional world becoming popular in one medium, and then expanding to others through licensing agreements, with respect to intellectual property in the franchise's characters and settings. As one author explains, "For the studios, a home-run is a film from which a multimedia 'franchise' can be generated; the colossally expensive creation of cross-media conglomerates predicated on synergistic rewards provides an obvious imperative to develop such products." The trend later developed wherein franchises would be launched in multiple forms of media simultaneously; for instance, the film The Matrix Reloaded and the video game Enter the Matrix were produced at the same time, using the same actors on the same sets, and released on the same day. Several other franchises throughout the 2000s had films and games release within days of each other, including King Kong, Star Wars, Harry Potter, Marvel Comics, The Lord of the Rings, The Chronicles of Narnia, Pirates of the Caribbean, and Transformers.

What is a multimedia franchise?

A media franchise, also known as a multimedia franchise, is a collection of related media in which several derivative works have been produced from an original creative work of fiction, such as a film, a work of literature, a television program or a video game .

What is media mix?

See also: Media mix. A media franchise often consists of cross-marketing across more than one medium. For the owners, the goal of increasing profit through diversity can extend the commercial profitability of the franchise and create strong feelings of identity and ownership in its consumers ( fandom ). Aarseth describes the financial logic of ...

What are some examples of non-fiction literary franchises?

Non-fiction literary franchises include the ...For Dummies and The Complete Idiot's Guide to... reference books. An enduring and comprehensive example of a media franchise is Playboy Enterprises, which began expanding well beyond its successful magazine, Playboy, within a few years after its first publication, into such enterprises as a modeling agency, several television shows ( Playboy's Penthouse, in 1959), and even its own television channel. Twenty-five years later, Playboy released private clubs and restaurants, movie theaters, a radio show, direct to video films, music and book publishing (including original works in addition to its anthologies of cartoons, photographs, recipes, advice, articles or fiction that had originally appeared in the magazine), footwear, clothing of every kind, jewelry, housewares (lamps, clocks, bedding, glassware), guitars and gambling, playing cards, pinball machines and pet accessories, billiard balls, bedroom appurtenances, enhancements, plus countless other items of merchandise.

Does a media franchise have to include the same characters?

A media franchise does not have to include the same characters or theme, as the brand identity can be the franchise, like Square Enix 's Final Fantasy or the National Lampoon series, and can suffer from critical failures even if the media fictional material is unrelated.

How much does it cost to start a franchise?

Franchise costs vary widely depending on the industry and business you choose to invest in, not to mention where you live or plan to do business.

How to get a copy of a franchise disclosure document?

Reach out to the franchisor for a copy of its franchise disclosure document (FDD), which contains detailed legal information about its franchise group along with financial data like the average gross revenue of its locations.

How long do you have to get a copy of your FDD before signing a contract?

The franchisor is required to provide you with the FDD at least 14 days before you sign a contract, though it’s a good idea to request a copy earlier in your initial phases of research. You can typically download a PDF of the FDD, though some franchisors might be willing to send you a hard copy. 5.

What to do if you don't have a franchise?

If you don’t have the initial investment costs at the ready, you may need to tap into outside financing to launch or run your franchise. Many banks, the SBA and franchise-specific lenders offer financial help for would-be franchisees. Other options include crowdfunding or lenders based entirely online.

How long does a franchise contract last?

Franchise contracts come with terms of five to 20 years. At the end of the term, you can often choose whether to renew the contract or discontinue your franchise. At contract signing, you’ll likely need to also pay any upfront fees or initial investment expenses.

Where is the Critter Control franchise located?

Let’s say you want to open a Critter Control franchise in San Jose, California — a city with a population of about 1 million people. At an average $582,828 gross revenue for that market, according to Critter Control, here’s what you could reasonably expect.

Is a franchise a sole proprietorship?

Purchasing a franchise as a limited liability company (LLC) or corporation, rather than as a sole proprietor, provides financial and legal protection of your personal assets. As an LLC or corporation, you aren’t held personally accountable for debt incurred by the franchise.

Why do we have franchises?

The franchises serve us to expand our business and obtain recurring income from businesses that no longer depend on us.

What to use to attract franchisees?

If you are in the process of attracting possible franchisees, you can use advertising. The best would be business magazines or sites like LinkedIn where you will reach the professional audience.

What are the requirements for franchising?

Some of these decisions will have to do with: 1 The place of the franchises 2 The requirements to be a franchise 3 The training and guidance you will offer as a franchisor 4 The way you will promote franchises 5 The initial cost of franchising and commissions 6 The distribution or manufacturing of the products or services 7 The period of time by which the agreement will be signed 8 This part is of vital importance since those decisions will have a strong impact in the coming years.

What decisions do you have to make for your future?

Some of these decisions will have to do with: The place of the franchises. The requirements to be a franchise. The training and guidance you will offer as a franchisor. The way you will promote franchises. The initial cost of franchising and commissions.

What is the part of becoming a franchisor?

Part of becoming a franchisor includes having to add key personnel to support the franchises.

What are some examples of fast food franchises?

To better understand this concept, we can think of some examples like McDonald’s and KFC. These fast food businesses are all over the world and have managed to expand thanks to their franchises.

Why is it important to have other business units before franchising?

This is why it is important to have other business units before franchising, to have a business replication method already established. In addition to offering instructions on certain business practices, some freedom should be granted to the franchise, as well as certain restrictions.

How to make your franchise stand out?

You can make your franchise location stand out, however, by encouraging reviews from customers and attracting likes. These are both trust signals. For users, these trust signals indicate that if they’re going to visit any franchise location, they should visit yours.

What is a franchise?

A franchise describes any business that allows people to buy-in to the franchise and open a location or branch in the name of that franchise. This location or branch uses the franchise’s name and logo, plus receives support from the franchise.

What social media platforms do franchises use?

Many franchises choose to stick with only one or two social media platforms – typically Facebook and Twitter.

Do franchises have to have social media?

Before you begin creating social media accounts or developing a franchise social media strategy, check your franchisor’s social media policies. Depending on the franchise, they may request that franchisees not create location-specific social media accounts.

Do franchisees have a dedicated marketing team?

Compared to the franchisor, franchisees have fewer resources. You may not have a dedicated marketing team, for instance, to handle your social media strategy. Instead, you must find and invest the time into social media.

Is social media a responsibility?

Managing the social media presence of a franchise at the corporate level is a massive responsibility. That’s why creating brand guidelines is often an enormous (and even intimidating project). Using your company’s mission statement, however, can help you create those guidelines.

Do franchises compete against each other?

While franchises serve the same brand, they also compete against one another. Depending on your location, you may have several competitors. On social media, this competition becomes obvious when users search for a franchise near them, like 7-Eleven or H&R Block.

How long does it take for a franchisor to become royalty?

Nicol agrees being properly capitalized is essential. “Typically, a franchisor does not become royalty sufficient until around 75 to 100 open units ,” said Nicol. “That means it takes quite a bit of capital to create and grow a franchise successfully. Sometimes a franchisor will also hold on to their pilot location for too long. Oftentimes, franchisors will need to sell their pilot location and use those funds to focus on the franchisor side. ”

What do franchisors need to do to replicate their business?

In order to create this replicable model, Nicol says first-time franchisors also need to heavily document how they’ve successfully established the concept. “Prospective franchisors need to create a system of procedures and operations that somebody else can follow,” he said. “It may not be polished or totally complete, but they need to document how the business started, how it should be run, how it should be staffed and more.”

What do franchisors need to hire?

From there, emerging franchisors need to hire a good, tenured corporate support team to provide ongoing support and training to all new franchisees. If growth stalls after the first few locations, Nicol recommends taking a hard look at the marketing strategy for bringing in new franchise leads.

What is a franchise disclosure document?

These documents outline the responsibilities of franchise owners, fees and tax responsibilities, financial performance history, rules pertaining to trademarking and much, much more.

How does franchising increase revenue?

With the right plan in place, franchising can increase a company’s revenue through franchise fees and royalty payments paid by the franchisee, as well as expand brand recognition as the franchise reaches new markets and customers.

Where does the majority of franchise revenue come from?

According to the infographic, the majority of franchise revenue comes from merchandising. Video games, comic books, and Japanese manga are also significant drivers of income.

Why do franchises have multiple touchpoints?

In fact, every franchise in the ranking relies on multiple touchpoints and revenue streams to create a more interactive and emotional experience for their audience.

Why do classic movies need to reinvent themselves?

While the list proves that success builds over time, these classics need to constantly reinvent themselves as their audiences become reliant on new technologies and demand more immersive experiences.

Which brands are featured every year?

Twitter, Instagram, and Youtube are the only three brands to be featured every single year.

Overview

Transmedia franchise

A media franchise often consists of cross-marketing across more than one medium. For the owners, the goal of increasing profit through diversity can extend the commercial profitability of the franchise and create strong feelings of identity and ownership in its consumers (fandom). Espen Aarseth describes the financial logic of cost-recovery for expensive productions by identifying that a single medium launch is a lost opportunity, the timeliness of the production an…

Development to other forms

See also

Further reading

External links