Franchise Research/Tools: Tip of the Week

1. Use social media to gain a regional audience and build/interact with your customer base. Twitter and Facebook are great places to start. If you sell products, platforms like Pinterest may be useful as well.
2. If you’re just starting out, join local business groups and associations, or even the Chamber of Commerce. Join these groups to get word out that you’re in business. Network with other business owners; establish connections that could be useful for referrals and new business down the road.
3. Use pricing to your advantage. Consider using promotions, coupons, or referrals to get people in the door. Many franchisors allow their franchisees to set prices but check your franchise agreement before doing so.
4. Get the word out about your business. Talk with the local newspaper and/or TV station. Write press releases (or have them written) for newspapers and online PR sites. You’ll want to try and reach every person you can within your territory. Even putting up flyers or billboards can help attract new customers.
5. Always carry your business card; you never know when someone may start talking about a service or product you offer. Business cards are extremely useful when you’re looking to build a network of connections.

October 24th, 2012, By Ben Baggett  |  No Comments  |  Read More

There are a multitude of things that a franchisee has to worry about. One of the most common things put on the back-burner is what your employees really want from the job. Although getting a raise is great, it’s not always what an employee is looking for.

Finding and keeping employees with the right work ethic, experience, and commitment should be your number one priority as far as staffing goes. But what about once you hire the perfect employee: how do you keep them at your business for the long haul?

March 7th, 2012, By Ben Baggett  |  2 Comments  |  Read More

If you’re currently running a business, I’m hoping you’re staffed and ready for the holiday rush. Holidays, like for example Labor Day, Thanksgiving, Christmas, and Hanukah, are critical in having a successful business. A large portion of retail shops revenue will come from these shopping days and the weeks prior. Planning for these rushes should start months in advance; it’s advantageous to be prepared when shoppers start coming in hoards.

December 13th, 2011, By Ben Baggett  |  2 Comments  |  Read More

Franchising can be considered less risky. A lot of the ‘dirty work’ has already been completed for you and all you have to do it build on an already strong brand name. Depending on the type of franchise you buy, you may not get to choose (or need to) your location. But most retail franchisors do not make the final decision when deciding location; this is left up to the franchisee.

December 6th, 2011, By Ben Baggett  |  5 Comments  |  Read More