In my over three decades running a franchise consultants firm, I am often asked “What makes one franchise marketing program succeed while another franchise marketing program doesn’t?” Rarely is there a single reason for success or failure in a franchise marketing program. Here, I will examine some of the factors that can help you succeed in your franchise marketing.
The first step in designing an effective franchise marketing program is to develop your target Franchisee profile. Obviously, if you can identify the person most likely to want to be your Franchisee, you can tailor your franchise marketing to target that person. Even more importantly, if you focus on your target Franchisee as you create your franchise program, you can structure your franchise offering to be particularly attractive to your most likely prospects.
What type of person are you seeking with your franchise marketing programs?
- What kind of experience is required to succeed in this field?
- Are we seeking owner/operators or investor owners?
- Is this franchise more likely to succeed with multiple owner operators?
- What skills and knowledge are necessary to succeed in this business?
- Are any special licenses, permits or certifications required?
- Do I intend to sell multiple franchise locations to one person?
- What is initial investment is required?
- What annual income is likely to satisfy my Franchisees?
- What attributes are needed?
- What is a fair return on investment for this franchise?
- Who is likely to be attracted to this business?
- Who is prohibited from operating a business of this nature?
- What type of personality succeeds in this opportunity?
- What emotional rewards does my franchise offer?
While not all these issues may apply to your franchise, many of them will. You can easily make your franchise opportunity more attractive to your likely prospective Franchisees by building your franchise program with their wants and needs in mind. You can then create your franchise marketing campaigns to best reach these target prospects.
After determining the prospects to target with your franchise marketing, you can then decide how to best connect with those prospects. Is there a particular marketing method or medium that narrows the focus on your best prospects? Set your budget, and then decide how to best allocate your franchise marketing dollars.