From costs and staffing to location and what a typical day will look like, there’s so much to think about when starting your franchise. The experts at Fulcrum Franchise Development discuss the one thing many consider an afterthought that actually makes or breaks your franchise future—marketing.
Owning a franchise offers several upfront benefits over an independent business: a proven business model, brand awareness, and ongoing training and support to name a few. But the one thing that franchise owners need to make a main priority is marketing. Here’s why, as well as a few important marketing must-haves to consider…
- Think about marketing early on. It’s tempting to think marketing is something you should only worry about once you’ve found your ideal franchise. But in reality, you need to consider a marketing plan initially. Like a preferred management style, a chosen marketing approach is something you need to know you can enjoy and thrive with in your franchise business.
- Know the difference between sales and marketing. Yes, there is a difference. Of course the ideal franchisee should love sales, but doing one or the other is not an option. You can market your business with the best of them, but strong sales skills are also critical. If selling is not your strong suit, make sure your franchise partner or key employee is solid in sales, or consider franchise options that will take care of sales for you.
- Are you a DIY marketer? If you love creating your own ads, direct mail or website, make sure you have that creative freedom with your franchisor. Some franchise companies offer turnkey marketing solutions that don’t allow franchisees to stray from established branding and marketing, which can leave a DIY marketer frustrated.
- What plan does that franchise have for helping you acquire customers? It’s important to know what system a franchisor has in place to help you find not just customers, but the right customers for your franchise business. Does the franchisor have a marketing plan with a good return on investment that delivers profitable customers? Do they have personnel who will visit you locally to help build business? Asking these questions will help you make the best decisions.
- How will that franchise help you retain customers? According to Forbes, it can cost five times as much to attract new customers versus retain existing ones. You don’t need to be good with numbers to recognize the value of customer retention. Make sure you ask potential franchisors specific questions about their methods for retaining customers.
Market More, Thrive More with Fulcrum Franchise Development
If you’re ready to discover a potential-filled future as a franchise owner, let Fulcrum Franchise Development help you along the way. We combine 20+ years of marketing expertise with franchise ownership. Call or email us to learn more about how our unmatched blend of professional experience gives you a true advantage in the franchise industry.