Major issue today: marketing!
I frequently speak to franchisees whose businesses
are failing and their overriding concern is marketing. They want
1. Where are the leads?
2. Where are the customers?
3. How do I get more customers?
4. How do I keep my customers?
5. How do I get customers to spend more money in my business?
Those are the questions and issues facing far too many franchisees
today, which is why marketing is the most important component
for you to evaluate prior to buying a franchise.
Some franchisors haven't figured it out
Unfortunately, many franchisors either don't know the importance
of producing a marketing machine or they can't afford to. Sometimes,
in fact, the franchisor hasn't figured out how to market the business,
and their franchisees are in the worst situation.
Franchisors are easily distracted
It's easy for franchisors to overlook the importance of marketing
to their franchisees because there are so many other things that
compete for a franchisor's time and money: Selling franchises
(well, duh!), training and support, site construction, managing
the corporate team, funding the business, dealing with vendors,
etc. When franchisors forget (and some just don't know) that marketing
propels franchising -- that nothing is more important than marketing,
especially to a franchisee -- they fail to live up to their responsibilities
Protect yourself by not buying their franchises!
You want a franchisor to invest in marketing
Franchising is in a bit of a mess right now because too few franchisors
are marketers, and too few franchise companies are providing marketing
machines for their franchisees. And things aren't going to get
better until franchisors begin to invest again in marketing.
Look for the marketing machines . . . they're out there! Ask
existing franchisees: How effective is the franchisor's marketing
machine? If the franchisee looks at you like you've got two heads,
you know to continue shopping! Don't believe anyone who tells
you that everyone is struggling to sell franchises today. Not
true. Franchisors with marketing machines are doing just fine,
even in these troubled economic times.
If you expect to do just fine as a franchisee, only buy the franchise
that comes with a marketing machine!