National marketing efforts on behalf of franchisees have always been one of the benefits of operating within a franchise system. Generally, you sign on, open a store, and you get brand support and marketing from the franchise system. Thatâ€™s a great advantage, but some multi-unit operators like to take matters a step further... or even several steps further by taking local marketing into their own hands. There are many unique and creative ways for multi-unit operators to approach local marketing. Done right, itâ€™s much more creative and involved than direct mail or coupons, and the results can be taken to the bank. Here are a few twists and tips we uncovered.
Franchise companies and area developers can grow rapidly while still making a profit, but the importance of proper site selection is a key factor for success.
Being an area developer, most outsiders would think, is a guaranteed stress-builder. After all, minding a number of businesses--let alone starting them up--has more problems in more directions than your average C-level exec faces every day.
Linda C. Ray
That's the pitch people get when applying for a job at Aaron's Rents. But it won't be an easy year, says Todd Evans, vice president of franchising for Aaron's Sales and Lease Ownership division.
Franchise concepts continue to proliferateï¿½"an important sign that the industry is healthy and poised for more growth.
The Wall Street Journal has reported that 70 percent or more of the value of a brand is now based on intangibles. Shareholder value that used to be calculated on brick and mortar is increasingly driven by customer count, market share, prospects for growth, and reputation.
Out of the American West came a term that has changed meaning from its use by the vaqueros herding cattle 100 years ago, to that of today's slick marketers of products and services. That word (or buzzword) is branding. In a world of instant communication, in which images whirl by us daily through multiple media, branding is crucial to success for both individuals and corporations.
Area developers usually come to the party with experience in franchising and the industry they're in--or at least one of the two. In the case of new Precision Tune Auto Care area developers Dick Lippert and Al Unser, Jr. (yes, that Al Unser, Jr.), neither has franchise experience. But Lippert brings a strong track record of business success. And Unser? Well, he knows a little something about cars.
He always meant to quit working at Jack-in-the-Box and pursue his goal of becoming a doctor in the United States. Instead, he found success beyond his wildest dreams...in franchising.
Financing small-business growth is now moving into the field of franchising. Minneapolis-based Winmark Corp. is branching out from its portfolio of more than 800 franchised retail stores in the U.S. and Canada to a new brand allowing its franchisees to lease business equipment to small-business owners.