Over time, every brand evolves to stay relevant to its customers. You may not go through a corporate "rebranding" exercise to the extent that Wendy's, Burger King, or Arby's recently did, adopting a new logo, new store design, and/or new products. If you operate restaurants, think about it: at some point, did you add new items to your menu, redecorate your dining areas, or buy updated employee uniforms? All of these areas, along with your logo and name, combine into your unique brand. Changing just a few of these is a smaller version of rebranding.
Rebranding your franchise is expensive. The costs associated with designing, building, and rolling out a new logo, store design, signage, uniforms, packaging, and advertising (just to name a few) can cost large franchises millions of dollars and countless hours. So why do it? A large portion of companies believe rebranding will help attract new customers, help them relate better to their target consumer, and give them a fresh appeal in the marketplace.
A large push is occurring for major store remodels across most older, national restaurants chains, from Wendy's, McDonald's, Arby's, and Burger King to O'Charley's and Applebee's. While the extent of the remodels varies, the majority of the expense falls on the franchisees. Most estimates show these remodels can costs hundreds of thousands of dollars per location.
Will spending several hundred thousand dollars out of your own pocket to add Wi-Fi, flat-screen TVs, and state-of-the-art self-service drink machines garner a large enough ROI to justify the cost and time?
Bottom line? Your main goal with a remodel, or any rebranding exercise, is to increase sales enough to cover the costs and continue that increased revenue on an ongoing basis. Some franchise owners, after years of slow sales, are deciding the cost doesn't justify the gain; rather than pay for the remodels, many are opting to sell instead.
Imagine if you could change customers' views of your company and dramatically increase sales without the expensive costs of remodeling or rebranding. You can--simply by improving your employee hiring practices. The sales increases you will see from improved customer service (minus the minimal expense) will bring you a staggering ROI.
Finding and hiring high-quality candidates can make or break the success of your company. It all comes down to customer service. Employees who know your products and are attentive to your customers' needs will keep customers happy and coming back. However, many managers struggle to find and hire employees who can deliver outstanding customer service.
Finding great employees who are engaged and a fit for your company culture--and keeping them in an industry known for its high turnover rate--seems like a daunting task. But a few simple steps can help you quickly identify, screen, and hire employees who will provide better customer service and increase sales.
If you want to improve your store sales but lack the substantial funding needed to remodel or rebrand, look no further than your current team members. Investing in your employees--to hire, train, and engage them--will dramatically increase your sales. Happy employees provide better customer service, which leads to more sales. This year, invest in your people. The results will astound you.
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