Discovery Days Must Advance

As the tide turns in our economy, franchisors continue to search for new and improved ways to tip the interest of new and potential franchisees in their direction, and encourage the qualified ones to move forward. Innovative measures are being pushed across the board to find new ways to market your franchised business online or adapting the discovery day process.

Over the last year, I have closely evaluated our discovery day process. We have taken measures to improve content and interaction among myself, key team members and our potential new franchise partners in an effort to make the day much more progressive, impactful and successful. Often, franchisors hammer down information to the potential franchisee. This can get lost in what the day really is meant for – discovery.

Sure, there is something to be said about introducing them to every crevice of your system, but in reality, that’s not what a potential franchisee is there for. They are there to touch, feel and experience your franchise concept, and more importantly, evaluating who they are and gaging their business acumen and potential for business success through their questions and interaction. The discovery day is just as much about finding out if there is a cultural fit as if there is a financial fit.

As a franchisor, it is your obligation to understand if your franchise is the right concept for your potential franchisee, and if they are the right franchisee for you. In today’s environment, Franchisors must only accept top tier franchise candidates. It is more important than ever to stack your deck with aces. Through doing this, it will help bring the entire level of your franchise up another level.

Some franchisors are sacrificing their brand and quality in the name of increasing the sale of units. We cannot do this. It is not good for your brand and system. In addition, these tactics may contribute to a higher percentage of closures.

The economy is in a state of flux. It is challenged. It is in these times that the strongest will find a way to not only survive, but also thrive. Franchisors who differentiate themselves and continually try to do things the right way will be the ones who prosper out of the down economy and into good times with a great brand.

I aspire to have my company among those great brands. And so do my franchisees.

Now visit my new website: http://www.davidasarnow.com/

Don’t Lose Site of Holiday Promotions

Halloween is right around the corner. As a franchise system, what are you doing? I hope you don’t say: “Oh, we are having a dress up party at our headquarters.” Wrong answer.

Don’t overlook the value of piggybacking holidays. Find ways to promote your brand when the country is promoting a theme.

For us, we have the benefit of being a photography franchise; which means we have the benefit of capturing the images of our customer’s children during this time. We have to think outside the box, though, to reach new demographics. This year, every teen is hooked into social networking – thus we are giving away social networking photographs to anyone who walks into our location with a costume. The cost for us? Time. We are shooting the photos digitally, uploading online, and having our customers download their quick photo. The hope is that they will want to purchase printed versions of the photos. This way we give a little to get a little.

Drive sales using simple marketing tactics.

Thanksgiving is next. Start thinking of ways to add a few extra sales to boost your bottom line.

Now visit my new website: http://www.davidasarnow.com/

How We Are Finding Potential Franchisees

If that headline appeared in the program of a franchise industry event, I am fairly confident a packed room would ensue. Luckily, for my readers, you don’t even have to leave the comfort of your personal space to hear what we are doing.

The economy is very uncertain. The pundits are professing doom and gloom. We hear this on a daily basis. We are all feeling this uncertainty and see it on television, radio and at the water cooler. This is causing extreme concern for everyone, including our current and future franchisees. With the current credit crunch, if you need financing, it is much harder to go into business for yourself. Perhaps, in a way, the state of the economy will be beneficial to our industry, as this economy will promote the survival of the fittest. Those left standing will be the best. This will be beneficial for our future franchisees.

For the time being, being creative is a must. You have to be creative with the way you are scouting for potential franchisees. While budgets are being slashed, you must progress forward with some spending and creative techniques.

Six months ago, I was spending an arm and a leg on the franchise portals. I was hoping that my future franchisees would sift through all of the rift raft and end on my concept. Sure, I got leads, hundreds per month, but qualified? Far from it. While I believe the portals do serve a purpose of advertising a concept, the ROI is limited to, well, luck.

I started becoming progressive. I launched this blog site to help give people a peek under the franchise tent, while at the same time driving content for the my company brand and more importantly control it. I even invested my own money in a company location so that I could better participate in the ups and downs of my franchise compnay. I put myself in the shoes of those searching for entrepreneurial freedom and simultaneously started marketing our business differently. Progressively. This also helped adjust our discovery days, too, to better fit our messaging to meet individual potential franchisees’ needs.

Yes, the economy is uncertain, but I am still spending – just a little more focused. I am driving content through social media/social networking. Facebook, MySpace, YouTube, Twitter – these are all a part of my movement from step A (portals) to step Z (better, more qualified potential franchisees). Reactive potential franchisee leads will naturally come, especially if you have a well marketed brand. These days, the proactive leads will drive better, more qualified potential franchisees.

Public relations, marketing, advertising – all a must in a down economy. Increasing the perception of your brand is in the public eye, will lead to higher quality leads. Build brand awareness. Don’t stop spending; because the second your brand stops being important to consumers and the public in general, is the second it doesn’t matter to future franchisees.

Franchisors and Business Owners: Don’t Overlook Social Networking

Many of us in the franchise community have started dipping our fingers into the world of Web 2.0. We have begun to wrap our minds around this new technology. Much of this started by adding ourselves to LinkedIn or Facebook… this is a great beginning.

What’s next? What else can you do with these free, yes free, services?

We are beginning to explore the real potential of social networking. I am now using Social Media and Networking to promote our brand. Obviously, I am blogging, but I, along with my franchisees, have started exploring options on Facebook, MySpace, Twitter, Digg, etc. These mediums provide us with the ability to connect directly with our current and potential customers in their personal space.

While this takes time, it is free advertising and the result can be measurable.

Some of this is measured by offering discounts or promotions that are prompted by a “magic word” or phrase. This way, customers are not connected to our brand virtually.

In today’s world, there are other “non-traditional” options to marketing your business – much deeper than the traditional formats. There is certainly more to come on this topic, but I wanted to introduce you to the fact that the world is changing, as is franchising.