Franchising and Brand Promotion
One of the greatest advantages that franchising model provides is the brand name, promotions and brand management. A start up project, no matter how right its rationale for business or perfect its model is, still people like to buy or avail services from a known brand. People who know about brand equity can tell you that it is the image in the market, in the eyes of the people that sells.
For a start up project it is very hard to beat the competition in the first few months or years. Some products or services require months of continuous promotion campaigns to be known to the people. That is why we believe that franchising and brand promotion has a close connection.
Every good brand allocates an annual budget for advertising and promotions. Even those, which are popular worldwide, have to advertise.
It is the overall marketing and advertising strategies that play a major role in the sales and popularity of the products and services.
A franchisee is more closer to success because the brand he or franchise unit he buys does not have to start from the scrap. People already know the product or the service and the franchisee do not have to worry about pushing his sales team. It also gives the franchisee more liberty to focus on other key strategies and expansion of business. Provided the franchisor takes care of franchising and brand promotion, rest is assured for the franchisee.
Before buying a franchisee, it is important to ask about the advertising and promotion plan of the franchisor. For example, you are buying a school franchisee. It is obvious that the franchisor would have some advertising and promotions strategies that are implemented every year. The franchisee can avail the benefit by synchronizing these strategies for his own benefit.
Franchising and brand promotion go hand in hand and each sustains the other.