Marketing Your New Franchise Concept; Missing Something? Part 2

Joel Libava
Mon, 08 Sep 2008 06:05:00 +0000
Franchising

The missing step is this:

You have no idea how to find prospective franchisees! And, how would you?

You are the one that started your own business. Your start-up was your idea. You made your own dream a reality. This is your baby.

Did someone forget to tell you that there are over 3,000 other franchisors out there that feel the same way about their concepts as you do about yours? And that they are trying to attract potential franchise owners too?

According to Michael Seid, a well known franchise development expert:

“You can't wait until you begin to offer franchises to have answers to questions about your system's marketability. You may find out that you have all of the documents required to invite people to come to your party but nobody shows up to help you blow out the candles. One of the reasons so many new franchisors experience little if any growth in their systems is that the pool of candidates was never adequate for their purpose, and a feasibility examination might have determined that before they began the development of the system.”

Hopefully your franchise development process consisted of more than an attorney drawing up some franchise documents, and wishing you the best of luck. {Some franchisors do it this way. They fail}

If your franchise development was done on the cheap, there are still ways to keep your franchise concept from going under. The saying that “Sales cures everything” is true here. The way to keep your franchise in business is to make sure that you sell some franchises! Obvious, I know, but it had to be said.

A good {great} marketing campaign can do wonders to your bottom line. {The bottom line being- sell franchises}

If you think buying some nice looking 125X125 tile ads in a franchise directory will do it for you, you will be rudely awakened when your bill comes in. Franchise directories truly have a place in your marketing plans, but don’t spend all of your money and time in one place! My friend Sean Kelly told me that “Franchise companies need to tell their story.” Tile ads don’t tell a story.

Here are some ways that you can tell your story:

Think back to the beginning of your business. What drove you to start it in the first place? What were some of the huge hurdles that you had to overcome? Can you describe any life-changing experiences as a small business owner? Think about something really unique to the way you do business. Who are you looking for as a franchisee? Would that be a unique person? These are all potential stories that you can tell. {With help}

Hire a PR agency to help you craft some interesting story ideas that can be submitted to the press. I recommend hiring an agency that specializes in Franchise PR.

Find franchise/small business bloggers that could be open to helping you tell your story. {Just write them via email, and ask them. Make sure they benefit, also.}

Ask friends if they have any cool ideas for a story. Or better yet, ask friends and customers for some ideas on how your franchise can create some type of headline grabbing marketing event. This is the time to really think out of the box.

Hopefully I got you thinking. Remember; don’t put all of your money and energy into one thing. Combine traditional advertising with your story for maximum impact. Don’t give up.

Joel Libava is a Cleveland, Ohio franchise consultant, blogger, and online marketer. Find out more about Joel at www.JoelLibava.com