With national unemployment rates reaching record highs, the franchise industry is capturing the attention of the recently laid-off by enticing them with independent ownership – no more corporate politics, no more bosses. While our brick and mortar concept is reserved for those with high net worth, we have turned toward outside-the-box-thinking to capture the attention of entrepreneurs who may not currently have the strongest financial portfolio but are willing to work hard, aggressively market, build a growth strategy for long-term success, and jump into self employment.
Our On-Location Events opportunity eliminates the absolute need for a brick and mortar location by allowing franchisees to operate their business out of a home office. The franchisee builds a name and face in the community through forging relationships with people in their town and surrounding areas without absorbing the high costs and terms of a lease. The cost of an On-Location Events franchise starts at around $30,000, which includes the franchise fee, equipment, marketing, and training. This price is much lower than most photography businesses and this helps franchisees save up enough money to open a studio in due time if they so chose.
I want all of my franchisees to succeed, so we provide them with the tools and knowledge to overcome any obstacles thrown their way. We have several brink and mortar franchisees, which have started as Events franchisees as a way to build a strong following and community support prior to launching a studio. This has helped offset the expensive real estate costs some franchisees face. Not only is the Events franchise relatively inexpensive compared to most franchise opportunities, but it is also a value added feature of the franchise company – geared toward promoting entrepreneurship to qualified businesspeople hungry to grow their own business.
Franchisors are scattering to find qualified candidates as there is more competition than ever and the economy has taken a nose dive. We wanted to create a concept that would help us stay on course with our growth strategy and at the same time promote entrepreneurial opportunities to a wider scope of the public.
We have recently added five new on-location event franchises in four states – Kansas, Illinois, New Jersey, and Florida. Many of these franchisees has set the goal of opening a brick and mortar location, one just opening.
We have had a steady flow of new openings across the country, partly due to our ability to adapt our concept to best fit the economic climate. Franchisors and business owners, in general, must adapt to fit the economic climate. Those who think outside the box will be the ones who progress through these tough times.
Tuesday, February 24, 2009
Thursday, February 19, 2009
Something to Think About: Facebook Business Page and Personal Pages
Having just returned from two different conferences, I was amazed by the overwhelming buzz about Web 2.0, and social networking. The attention to social networking was most apparent at the IFA's (International Franchise Association) annual convention. At the IFA, there were at least four round table group discussions on this topic along with a packed room of over 200 people for an introduction to social networking. It is very clear that the line between business and personal is blurring, and people are looking into how they can and should fit into it.
As Social Media sites become more and more popular it becomes increasingly important to monitor what you are putting onto those sites about yourself and your company. Facebook is a great example as more and more often, this site is looked at before hiring an employee; while researching a client; as well as investigating different franchise opportunities. What is said about your company, and yourself, can hook someone into your brand or repel them from it.
When I first started my Facebook venture, I created a page for just myself, David Asarnow. I would interact with consumers, franchise industry vets, franchise prospects, franchisees, etc. But, I found it increasingly difficult to maintain a “Business” image. I was making the mistake of mixing business and pleasure – not a good idea.
So, upon deeper thought, I decided to create a page specifically used for business purposes, while maintaining a personal page. You can still find “David Asarnow” – but it’s a private page, reserved for only my closest friends and family. You can now find a “David Asarnow Business” page, designed for personal interactions specific to my business.
While this may seem like a waste of time – to manage two Facebook pages – it is important for those who don’t want to mix personal and business.
Having a page specifically used for business purposes is vital to marketing your business, especially in the world of online technology. Facebook is a highly linked to and indexed site, which immediately raises its value in the search engines. The big benefit to being on Facebook is the ability to provide your potential franchisees, customers, clients and vendors with yet another outlet for credible research on your brand. And, it’s free (other than time).
There are many advantages to using these Social sites for business. Becoming Facebook “Friends” with consumers and franchisees allows you to speak to a wide and important audience. If you want to offer a specific promotion or sale, your audience is at your fingertips; simply send out a Facebook message and the word is spread.
Happy customers may leave positive messages for your social network to see (keeping you at top of their mind), while add the same time, you can also address dissatisfied consumers and win out over competition. Consumers have a medium to send you raves and complaints. If they are unhappy about a recent visit to your business, you have an opportunity to turn this dissatisfaction around and delight them. You may wish to send a coupon (or something) to get that person back into your store for a positive experience; make them think optimistically about your brand. Satisfying an unhappy customer has many benefits, and one of those is turning that person into a loyal customer. As a business owner I know the importance of having as many loyal customers as possible, and the extreme benefits this has for your brand.
Keeping your page up to date and relevant is also important in order to keep your audience entertained and coming back for more. Continuously discussing new services, products and achievements of the brand is mandatory. If someone wants information about my business, I want them to be able to find as much as possible and Facebook is a perfect outlet. I will continue to use Facebook and other Social Media sites to attract a wide audience and grow my brands’ network and popularity.
It will be interesting to see just how many franchisors log into these sites in the coming months. Businesses have been taking advantage of sites like MySpace for years now, but traditionally, the franchise industry is behind the curve. Since these sites are free, though, it wouldn’t surprise me if Social Media is the next big thing in franchising and that it completely takes the place of the formerly popular franchise portals.
As Social Media sites become more and more popular it becomes increasingly important to monitor what you are putting onto those sites about yourself and your company. Facebook is a great example as more and more often, this site is looked at before hiring an employee; while researching a client; as well as investigating different franchise opportunities. What is said about your company, and yourself, can hook someone into your brand or repel them from it.
When I first started my Facebook venture, I created a page for just myself, David Asarnow. I would interact with consumers, franchise industry vets, franchise prospects, franchisees, etc. But, I found it increasingly difficult to maintain a “Business” image. I was making the mistake of mixing business and pleasure – not a good idea.
So, upon deeper thought, I decided to create a page specifically used for business purposes, while maintaining a personal page. You can still find “David Asarnow” – but it’s a private page, reserved for only my closest friends and family. You can now find a “David Asarnow Business” page, designed for personal interactions specific to my business.
While this may seem like a waste of time – to manage two Facebook pages – it is important for those who don’t want to mix personal and business.
Having a page specifically used for business purposes is vital to marketing your business, especially in the world of online technology. Facebook is a highly linked to and indexed site, which immediately raises its value in the search engines. The big benefit to being on Facebook is the ability to provide your potential franchisees, customers, clients and vendors with yet another outlet for credible research on your brand. And, it’s free (other than time).
There are many advantages to using these Social sites for business. Becoming Facebook “Friends” with consumers and franchisees allows you to speak to a wide and important audience. If you want to offer a specific promotion or sale, your audience is at your fingertips; simply send out a Facebook message and the word is spread.
Happy customers may leave positive messages for your social network to see (keeping you at top of their mind), while add the same time, you can also address dissatisfied consumers and win out over competition. Consumers have a medium to send you raves and complaints. If they are unhappy about a recent visit to your business, you have an opportunity to turn this dissatisfaction around and delight them. You may wish to send a coupon (or something) to get that person back into your store for a positive experience; make them think optimistically about your brand. Satisfying an unhappy customer has many benefits, and one of those is turning that person into a loyal customer. As a business owner I know the importance of having as many loyal customers as possible, and the extreme benefits this has for your brand.
Keeping your page up to date and relevant is also important in order to keep your audience entertained and coming back for more. Continuously discussing new services, products and achievements of the brand is mandatory. If someone wants information about my business, I want them to be able to find as much as possible and Facebook is a perfect outlet. I will continue to use Facebook and other Social Media sites to attract a wide audience and grow my brands’ network and popularity.
It will be interesting to see just how many franchisors log into these sites in the coming months. Businesses have been taking advantage of sites like MySpace for years now, but traditionally, the franchise industry is behind the curve. Since these sites are free, though, it wouldn’t surprise me if Social Media is the next big thing in franchising and that it completely takes the place of the formerly popular franchise portals.
Monday, February 9, 2009
Changes Are Happening All Over – Including Your Concept
After watching the inauguration and thinking about the past months of intense campaigning by both President Barrack Obama and John McCain, one thing resonates: CHANGE. This is by far the most redundant and apparent need in the eyes of our country and its citizens. We do not know what the future will bring but being able to change is important for the leaders of our country as well as the leaders of our business world, and specifically, the world of franchising.
As a business owner, I realize that change is equally important but only in certain aspects of a company. Brand identity and values are a few of the intangibles that a company possesses and if lucky, these are worth even more than their goods and services. In order to sustain our intangibles, our culture is focused on 100 percent customer satisfaction. Our culture and our values are our brand’s identity.
While remaining true to your company’s culture and brand identity, you must constantly be adapting. In franchising, your values and culture will rarely change, but maintaining a “sexy” franchise offering remains utmost priority. In order to adapt to the current economy, we added a recession-resistant addition to our offering; an events specific franchise opportunity, where our franchisees can do on-location events while working out of their homes. This is a change we made to help our potential franchisees reach the goal of independent ownership without the upfront capital that our brick and mortar studio may cost. Adaptability is key to surviving in a competitive environment.
While we have adapted our franchise offering to include two segments, brick and mortar and events, we have found that we are a concept that continues to work. Children are currently the highest spending segment in our market place. A picture of your child is not something families are willing to give up on, even in a tight economy.
Additionally, we have found that our adaptation online has made a big difference in the success of our concept during trying times. The Internet is the fastest growing invention of modern times and a new feature is added every single day. By not adapting to this Internet age, one truly misses out on the advantages and opportunities it offers. In order to fully immerse my company in the Internet, we have taken a huge step toward Social Media and all it has to offer.
In an effort to change with times we have set up a Facebook page; are using Twitter to update our customers and employees; as well as blogging to interact with my peers online. By logging into these Social sets, we have the ability to have ongoing, active conversation with customers daily. Additionally, this interaction has allowed for instant customer constructive criticism. Our discoveries on how to improve, change, and alter our products and services to further satisfying our customers and keep them coming back time after time is a privilege of being connected to Social Media.
Always being one step ahead is equally important and anticipating a need for change can place you way above your competition. Having parts of your company that can adapt and people willing to learn more to keep them current will expand your business and keep it growing even in a recession. Don’t overlook the opportunity to adapt now when all of your competitors are struggling too, and ultimately stand out to your consumers.
As a business owner, I realize that change is equally important but only in certain aspects of a company. Brand identity and values are a few of the intangibles that a company possesses and if lucky, these are worth even more than their goods and services. In order to sustain our intangibles, our culture is focused on 100 percent customer satisfaction. Our culture and our values are our brand’s identity.
While remaining true to your company’s culture and brand identity, you must constantly be adapting. In franchising, your values and culture will rarely change, but maintaining a “sexy” franchise offering remains utmost priority. In order to adapt to the current economy, we added a recession-resistant addition to our offering; an events specific franchise opportunity, where our franchisees can do on-location events while working out of their homes. This is a change we made to help our potential franchisees reach the goal of independent ownership without the upfront capital that our brick and mortar studio may cost. Adaptability is key to surviving in a competitive environment.
While we have adapted our franchise offering to include two segments, brick and mortar and events, we have found that we are a concept that continues to work. Children are currently the highest spending segment in our market place. A picture of your child is not something families are willing to give up on, even in a tight economy.
Additionally, we have found that our adaptation online has made a big difference in the success of our concept during trying times. The Internet is the fastest growing invention of modern times and a new feature is added every single day. By not adapting to this Internet age, one truly misses out on the advantages and opportunities it offers. In order to fully immerse my company in the Internet, we have taken a huge step toward Social Media and all it has to offer.
In an effort to change with times we have set up a Facebook page; are using Twitter to update our customers and employees; as well as blogging to interact with my peers online. By logging into these Social sets, we have the ability to have ongoing, active conversation with customers daily. Additionally, this interaction has allowed for instant customer constructive criticism. Our discoveries on how to improve, change, and alter our products and services to further satisfying our customers and keep them coming back time after time is a privilege of being connected to Social Media.
Always being one step ahead is equally important and anticipating a need for change can place you way above your competition. Having parts of your company that can adapt and people willing to learn more to keep them current will expand your business and keep it growing even in a recession. Don’t overlook the opportunity to adapt now when all of your competitors are struggling too, and ultimately stand out to your consumers.
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