how to promote a franchise

6 Ways to Market Your Franchised Business

• 1. Advertising You may think of advertising as print media only. ...
• 2. Direct mail Most of us think of direct mail as postcards that we receive in our mailbox. ...
• 3. Sales An effective sales process is a must for every franchise system. ...
• 4. Promotions Traditionally promotions have been used to spark awareness and excitement in a marketing message. ...
• 5. Public relations ...
• 6. Online marketing ...

Full Answer

How do you attract more franchisees?

4 Ways to Attract Sophisticated Franchisees to Grow Your BusinessChoose the right industry events. Franchise industry trade shows can help a company attract the right type of franchisee. ... Foster a strong company culture. ... Identify brand advocates. ... Create a strong online presence.

How do you get people to buy a franchise?

However, if you follow these simple tips you will be on the right track!Position Your Brand as an Expert in its Domain. ... Make Yourself Appealing to Franchisees. ... Strong Communication with Your Current and Potential Franchisees. ... Use Existing Franchisees as Brand Evangelists. ... Create a Strong Web Presence.More items...•

Where can I advertise my franchise business?

Ways to Market Your Franchise OnlineSearch Engines. ... Social Media Channels. ... Local Websites and Travel Sites. ... Pay Per Click and Display Campaigns. ... Email Campaigns. ... PR and Influencer Marketing. ... Your Own Websites. ... Remarketing Campaigns.

How do you grow a franchise?

Smart Tips for Growing Your FranchiseGrowing and adding more units. Some of the most successful business owners are multi-unit franchise owners. ... Strive to become the "top producer" ... Help your franchisor grow. ... Become a great validator. ... Join the owner's advisory committee. ... Take advantage of leadership opportunities.

What is the failure rate for a franchise?

Coincidentally when I was with NatWest I managed the survey for the last 22 years. Pretty much every year the survey has been conducted has shown between 8-12% of franchise businesses left their franchise each year. This is for a variety of reasons, including retirement, selling, ill-health and financial failure.

What is the most profitable franchise?

Most Profitable FranchisesDunkin'7-Eleven.Planet Fitness.JAN-PRO.Taco Bell.Orangetheory Fitness.Great Clips.Mac Tools.More items...•

How do you announce a franchise?

Add an announcement about your franchise option on your letterhead, on business cards and on your standard business advertisements. Consider including an announcement on your door if you have a physical presence, on product packaging or on service items like cups.

How do you invite a franchise?

9 Ways to Effectively Market Your Franchise ConventionMessaging. It starts with messaging. ... Event Branding. ... Digital Media. ... Social Media. ... Convention Microsite. ... Digital Invitation. ... Convention App. ... Directly Involve Your Franchisees.More items...•

How do I sell my online franchise?

Selling Your Franchise in Three Simple StepsStep 1: Prepare Your Franchise for Sale. Start by contacting your franchisor. ... Step 2: Market Your Franchise for Sale. Most business brokers use online portals and their own proprietary databases to market businesses for sale. ... Step 3 – Negotiate and Close the Deal.

How can I impress a franchisor?

represents their brand in a positive light. Unless the franchisor has told you they're business casual, wear a business suit. And even if the franchisor has indicated they're business casual, put the emphasis on "business." A professional appearance goes a long way in establishing your credibility.

What are the benefits of a franchise?

Advantages of buying a franchise You don't necessarily need business experience to run a franchise. Franchisors usually provide the training you need to operate their business model. Franchises have a higher rate of success than start-up businesses. You may find it easier to secure finance for a franchise.

What are the types of franchises?

The five major types of franchises are: job franchise, product franchise, business format franchise, investment franchise and conversion franchise.

How are franchises bought?

Essentially, a franchisee pays an initial fee and ongoing royalties to a franchisor. In return, the franchisee gains the use of a trademark, ongoing support from the franchisor, and the right to use the franchisor's system of doing business and sell its products or services.

How much do franchise owners make?

When researchers accounted for the inflations caused by the few top franchises, it was established that the average annual income of 51 percent of franchisees is less than 50,000 dollars. The study also found that only 7 percent of franchise owners earn over 250,000 dollars a year.

How do franchise owners get paid?

How do franchise owners get paid? Franchise owners can pay themselves a salary or depending on their business entity, they may be able to take a draw from their accumulated equity.

Can you borrow money to start a franchise?

Commercial lenders, the SBA, and some franchisors offer funding to buy a franchise. Some SBA loans provide funding up to $5 million for a franchise. To qualify for a franchise loan, you must meet credit and collateral requirements.

Social media is more powerful than ever

Social media addresses a global audience, so it’s one of the most powerful marketing tools franchises can use to promote their products.

Ensure brand consistency across the franchise

The core of successful marketing is building a brand. What is there for your marketing campaign if you don’t have a strong brand identity that tells the story of the franchise? Your marketing strategy promotes your brand online and offline, so you need to create something worth sharing, a message that influences and generates emotions.

Content can boost sales for local franchises

Content marketing is a hot subject in franchise marketing because it does more than engaging audiences, it’s SEO friendly and works as the gateway in SERPs. All branches should create personalised content to meet local requirements, rank higher in local searches, and position the franchise as an authority in the market.

Word of mouth marketing attracts new clients

It’s surprising to find out that word of mouth is a powerful marketing tool, but it can raise brand recognition and awareness. Word of mouth also works wonderfully for the franchises that want to establish a trustworthy relationship with the market because the modern customer trusts their peers to make recommendations.

Go Local to Boost Brand Awareness

We’re living in a fast-paced, mobile-first era. Your customers are using their smartphones to find you on social networks, consume your content, and read customer reviews. And, most of these searches are location-based. They want to find local businesses in their vicinity they can visit right away.

Many Locations, One Brand

Each social network serves a different purpose and targets different audiences. Precisely because of that, marketers need to adapt their content marketing strategy to each channel they use.

Track the Right KPIs

Setting clear social media goals is important. However, without measuring your results consistently, you won’t be able to improve your performance on the go. So, before you even start promoting your franchise business on social networks, you need to set the KPIs you will track.

Over to You

Many digital marketing guides will tell you that social media marketing is the “cheapest” or the “easiest” way to boost your online presence. However, it’s not that simple, especially for franchises that are dealing with multiple accounts across numerous locations.

How to promote your franchise?

One of the most common ways that franchise owners network is by visiting expos. However, it can be hugely beneficial to build up excitement leading up to expos by reaching out online via social media and other forums to let people know what expos you will be at and why they should visit you there. This can be done by advertising during the weeks leading up to the event.

How to advertise a franchise opportunity?

Creating some sense of broad recognition is very important when you advertise your franchise opportunity in that having a brand identity translates to having people interested in the opportunity that your franchise has to offer. Placing advertising for your franchise opportunity in well-known publications is a great way to borrow the credibility and brand recognition of that publication. This also helps create a sense of recognition or a go to when you are looking to create a sense of familiar ground at expos. When you think about products that advertise by including logos that say things like “as seen on ” or find our ad in ” followed by a widely known and respected publication or TV program. Most people like to feel like they are both ahead of the crowd but also making a decision that the crowd will support.

Where should I advertise my Franchise?

Recent studies have concluded that looking at advertising in print in both newspaper and magazines involves the audience making a conscious choice to view the advertisements versus viewing other types of media instead. Paid subscriptions to the print editions of both magazines and newspaper publications continue to remain higher across the board whereas it is much less likely that any audience member will pay for the online editions. Print advertising does, in fact, have a few advantages that are distinctly helpful when you are looking to advertise your franchise opportunity. One of the biggest misconceptions about traditional advertising is that they are becoming less successful and less productive. The truth is that just like any other industry, advertising is becoming more competitive.

Is national marketing cost prohibitive?

National marketing is also an effective way to advertise your franchise opportunity but often there is an assumption that it is cost prohibitive. This isn’t necessarily true. Publications like USA Today offer the ability to place a cost-effective ad in their publication as well as in their local insert that runs in a local daily paper across the county which includes franchise sections that reach readers, are predominantly male and between 25-54 with high incomes, which makes them an optimum audience to advertise business opportunities.

Is print advertising good for franchises?

Print advertising does, in fact, have a few advantages that are distinctly helpful when you are looking to advertise your franchise opportunity. One of the biggest misconceptions about traditional advertising is that they are becoming less successful and less productive.