The concept of franchising is nothing less than pure genius. Did you know the word ‘franchise’ was chosen for a specific reason? The word’s origin is associated with the French term for freedom. It’s an appropriate correlation, as franchising to this day provides an aspiring entrepreneur a wide-open field for expanding a business concept.
Franchising also gives a business owner a more reliable formula than striking out on your own and learning all those entrepreneurial lessons the hard way. You don’t have to reinvent the wheel. With a turnkey concept that’s already been proven a franchisee usually sees a quick return on their investment.
Marketing the franchise also gets easier when name recognition kicks in. Opening that second location is a big step. And, by the time you have a dozen stores in a city, you’re tapping into a whole new level of branding in a community.
Do keep in mind this one crucial point when franchising a concept: The need to cement the brand in the community’s mind. Signage is very important, but it’s not the one-size-fits all solution for a franchise that want’s to grow the chain. An entrepreneur needs a compelling business process married to a compelling visual image. In a drive-thru world, you’ve got a few seconds to grab the customer’s attention.
Once an image associated with your concept has been committed to the public’s memory — whether that’s a touch of street theater or a memorable logo — half the marketing battle is won. Guerrilla marketing can give a franchise a powerful boost. But there still remains the need to keep your message in front of the customer with fresh marketing ideas and high-profile promotions.