Franchises are both common and uncommon when it comes to consumer marketing. They have particular considerations that set them apart from a corporate organization, like Walmart, but also need to connect with their target consumer audiences, just as much as the Coca-Colas of the world.
Are you spending time searching for the right creatives to express your brand? Unleash your best art by letting your brand influencers choose
But what exactly is a franchise, and what makes franchising so successful? A franchise is a local business that licenses the branding and operational processes of a parent company but operates independently in a defined geographic market. The local owner, or franchisee, is responsible for hiring staff, organizing schedules, managing payroll, and all daily operational tasks as well as local sales and marketing.
Franchise business growth is difficult to achieve. The tactics that work for single-location businesses could prove less effective for businesses with multiple locations. To create a successful franchise business, you first need to establish a clear path to reaching your goals. Successful franchises have found that adopting a strategy-first approach enables them to do so – and that begins with your franchise marketing plan.
IFA’s Annual Convention is the largest, most relevant conference for the franchise community. It offers valuable networking and educational opportunities for both franchisors and franchisees at any level, in any industry whether you’re a veteran or looking to expand.
The future of franchising starts at IFA Annual Convention, and you need to be here. Get up to speed on all the latest technology, gain valuable knowledge and best practices from experienced industry professionals, and source solutions for your company—all in just one trip.
Check out these five senior care franchises ready to assist your loved ones in 2022
Today is Giving Tuesday, the Global Day of Generosity that brings the Thanksgiving season to a close with a day of gratitude. With that in mind it’s a time for many of us to reflect back with gratitude on the positives we’ve experienced in a difficult year. A number of businesses and individuals have made it a priority to give back to those who have been affected by the challenges of the pandemic, and this holiday season, IFA would like to honor a few of the many franchises who are making a difference in their communities and giving to those less fortunate.
Operating a franchise today comes with a slew of challenges, from competing with corporate chains and online competition, to customer and employee satisfaction. But each of these challenges can be addressed by getting your business communications strategy right. Read on to learn more about the key success strategies franchises can implement to mitigate their business challenges and position themselves for success.
The franchising industry, like many consumer-focused economists, is making it a point to keep a close and watchful eye on inflation. This overriding concern is warranted, as inflation is a common denominator that cuts across all franchise industries, the vendors and supply chains that support them, and the end-user—customers who ultimately buy the products and services they have to offer. As prices continue to creep up, these cost increases keep getting passed along from one entity to another, but ultimately end up getting absorbed by consumers. But the franchise experts and prognosticators in our industry know—there’s not a finite amount of consumer price increases that customers will put up with. Left unchecked, runaway inflation could end up curtailing the very spending levels fueling our recovery from the pandemic.