There a many signs that the economy is recovering and business confidence is improving.  One that I have noticed is an increase in enquiries I've recieved from people investing in franchises.

Buying a franchise is certainly one great way of starting a business. The key advantage is that a franchise has (or certainly should have) a proven business model.  After all that's the bulk of what you're paying for.  But the onus it still on you to build it into a successful business.

From a marketing perspective, here are a few tips on what to do now.

1.  Milk the franchisor for every bit of help they can give
Take full advantage of everything they provide - whether it be training, business development coaching, marketing support, leads programs.  Milk it and be demanding about what help you need.  The franchisor has a vested interest in your success so they should be open to your requests for help, advice and support.  If they're not, you may have reason to question the value of what you are buying into.

2. Talk to current franchisees
Talk to other franchisees - both new-ish and more established.  Ask them about their challenges and how they have managed them.  Ask them how long it took to get a proper foothold in their geography.  What activities worked, what didn't.  What they would do differently.  You may find franchisees in another state are more open to answering honestly as they won't see you as a threat bordering on their territory.

3.  Understand what restrictions are placed on your marketing
This is a two edged sword - restrictions on your own marketing activity is fine if the franchisor is doing a great job.  For example, if they are delivering you good quality, frequent leads from their corporate website then you won't care so much that they won't allow you to build your own landing page with a Google Adwords campaign.  However, if they have limited marketing support at a brand level or marketing that does not deliver direct leads to you, then you should expect that their restrictions on your marketing activities should be way less.  And of course you should be paying much less in marketing levies. 

4. You still need a marketing strategy like any other business
The fact that you are a part of a company that has a marketing department doesn't absolve you of the need for a strategy. You need your own marketing plan for your geographic area or area of specialisation.  It will keep you focussed and force you to do your own thinking about where your business fits in your unique  marketplace.  I've worked for a number large corporates such as Telstra and Suncorp and their marketing plans alway filter down to a local area marketing level.  This recognises that each geography has it own nuances as well as ensuring marketing activities talk to the local community in a meaningful way.  Harness the power of being local!

By the time clients reach me, they have already made the decision to purchase the franchise.  It is certainly heartening that by seeking advice from a marketing consultant they are not resting on their laurels and expecting the franchisor to deliver miracles out of thin air.

Jane Davies
Director
Cat and Moose Marketing Solutions