Although marketing is a critical step in the continuity of any business, some business owners may think there is no need for such because all they need to do is offer an awesome product or service at attractive prices and customers will come rushing through the door. But that time has passed.
With so much information easily available today, competition for the attention of an audience can get pretty rough. More than just attracting new customers, the focus also has to be geared towards retention, and even increasing consumer expenditure too. So the question is, does the franchisor help you out in this?
As a prospective franchisee, one of the most attractive aspects about franchising is the fact that you will be setting up a new business that has a recognized brand name, and along with that, ready customers. Invariably, this translates to a higher chance of not just the probability of business survivability but also growth. Once that is taken away from the equation, the franchise doesn’t seem as attractive anymore. You may have acquired a franchise that has an awesome product or service but if you don’t know how to tell people about it, it really doesn’t make much difference even if you’re selling a lemon.
Unfortunately, it is easy for franchisors to be distracted by many other issues such as finding new franchisees (normally an outright priority), maintaining the franchise system, conducting training, etc. Not to say that these issues aren’t important, but marketing should be a key aspect of that focus too because without customers making purchases, there are only hopes and dreams left.
If you are looking to have some sort of fighting chance against today’s world of barraged marketing, look for a franchise that comes with a ready marketing plan to launch your new business venture. At the end of the day, you take up a franchise because you want to make money and if the investment scenario isn’t exactly optimal for that, keep looking.