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Isn't It Time You Started Your Own Business? Instant Corporate I

You want a successful business; you need customers to achieve this goal. Starting from scratch means you will have to build your customers one at a time and work long and hard to build awareness of your business. Business research shows that consumers are more inclined to do business with a company that they are familiar with. Most franchises have a well established corporate image in addition to customer brand awareness. Franchise companies have already created logos along with advertising that is linked to their name. Therefore, as franchisees join the organization it is easier for them to obtain and retain customers and build a successful business more quickly and easily.

Organized groups of franchisees in a territory using one trademark can achieve much more powerful brand recognition than individual independent businesses. Not only do they have group advertising and buying power as a result of being franchisees, but the sharing of ideas on regular conference calls and annual conventions is also a great benefit.

Typically a strategic plan for brand recognition is provided to the franchisees from a corporate level. The course of action needs to be strong and flexible enough to be successful in each local market. The franchisees can then adapt the plan to their areas using demographic information supplied by the franchise company.

The current economic climate has increased the need for businesses to have a competitive edge.There are a number of factors that play a part into which products and services consumers choose. It has been found that consumers not only look for good products and services that match their needs, but also for well-recognized brands that are connected to the local community in some fashion. In recent years many franchise corporations have been very strategic in their planning with regard to contributing to their communities. We see many examples such as the sponsoring of local sporting events or children's summer camps. Franchise companies are careful to take part in causes that most closely correlate with the product or service that they offer: for instance, a restaurant that donates food to a homeless shelter. Franchise companies spend a great deal on ongoing market research to ensure they are at the cutting edge of new trends and pass this information on to their franchisees. It is beneficial from both a business standpoint as well as a consumer standpoint for the franchisee to feel a connection to the particular cause that they are supporting. Evidence suggests that there is a strong correlation between this type of marketing and customer brand loyalty.

I often get asked if it is just the largest and most well known franchise companies that provide this degree of support to their franchisees. With franchises ranging in cost from $3500 to $3,500,000 the degree of support does vary but not to the extent one would expect. Often the smaller newer franchises can provide just as much support as the larger more established ones as they are very focused on the expansion of their business and are keenly aware that your success is essential to their success. Besides the corporate image that the franchise company already portrays, potential franchisees may wish to determine what resources the franchisor has in place to assist them in implementing community relations programs in their local areas. We spend a great deal of time with clients on this subject. The combination of corporate and local image and a marketing plan tailored to your local market is the approach most likely to result in a successful venture for the new entrepreneur.