NFA Franchise Consultants
14Jul/17Off

Franchise Marketing

Success In Franchising: Franchise Marketing

Stephen S. Raines
President, National Franchise Associates
Atlanta-based Franchise Marketing Specialists

Franchise Marketing

Franchise Marketing

In my over three decades of experience as a franchise consultant, focusing on franchise marketing, I am often asked, “What makes one company succeed in franchise marketing while another doesn’t?”  Rarely is there a single reason for success in franchise marketing.  Here, I will examine one of the many factors that can help Franchisors succeed in their franchise marketing.

Franchise marketing can be a relatively simple proposition.  A number of NFA’s clients decided to franchise their businesses because prospective Franchisees came to them, asking to purchase a location.  If you have received similar inquiries, keep a list of names and contact information.  This list of prospects is a good place to start your franchise marketing.

When building your franchise program, it is important for you to develop your franchise marketing strategy.  Where do you want to begin selling franchises?  In your hometown?  In other nearby markets?  Should your franchise marketing target a particular size market?  Does your franchise require a particular customer base that may be geographically concentrated? Are you focusing your franchise marketing efforts in a particular area or nationwide?  Is there an ideal time of year to launch a business of this nature?

When putting together your franchise marketing strategy, it is also important for you to create your target Franchisee profile. What type of person are you seeking?  What kind of experience, knowledge, skills and/or licenses will your Franchisee need?  What financial assets?  Character? Personality?  Business ethics?

Now that you know where to market and the prospects you want to reach with your franchise marketing, you can begin deciding how to best connect with those prospects.  Should you advertise nationally, regionally or locally?  Is there a particular medium that narrows the focus on your best prospects?  Set your budget, and then decide how to best allocate your franchise marketing dollars.

Another source to consider when putting together your franchise marketing strategy is your existing customers.  Depending upon the nature of your franchise and how specialized the knowledge required to operate it, you may find that some of your best prospects for your franchise marketing may come from your existing customer base.  After all, these people are familiar with your business and presumably fans.