In my over three decades experience as a franchise consultant, I am often asked “When franchising your business, what are some of the most important considerations?”

Here, I will examine one of those issues: when franchising your business, how to create a franchise marketing program for prospective franchisees? 

While you are in the development phase of franchising your business, we strongly recommend that you take the time to begin determining your franchise marketing strategy.  Some of the questions to be addressed include:

  • When franchising your business, should your franchise marketing program target a particular size market?
  • What attributes should these target markets have, such as income levels, education levels, age breakdown, family characteristics, home ownership versus renting, types of businesses and other qualities that could likely impact the demand for your franchisee’s products/services?  For example, it might be unwise to sell a childcare franchise in a market that is predominately seniors.
  • It is important to establish your franchise marketing goals.  How many franchises do you want to sell during your first year?  Second year?  Subsequent years?
  • Do you want to begin selling franchises in your hometown or elsewhere when first franchising your business?
  • If elsewhere, what particular markets do you wish to target with your franchise marketing program?
  • Does your franchise serve a particular type of customer, for example, small businesses, millennials or families with children?
  • Should timing be considered?  Is there an ideal time of year to launch one of your franchises?  A time of year to avoid opening?
  • Is your franchise more suited to a specific region of the country?

When franchising your business, you must also create your target franchisee profile.  Some or all of the following questions may apply to your franchise marketing target audience:

  • For franchise marketing purposes, in general, what type of person are you seeking?
  • How much money will be needed to open one of your franchises?  Do you anticipate additional investment will be required during the start-up and initial phases of operations?
  • What kind of business experience, education, background, knowledge, skills and/or licenses will your franchisee need?
  • When franchising your business, are there other intangibles you are seeking in a prospective franchisee such as ethics, character, hobby or personality?

Now that you have developed the framework for your franchise marketing strategy in terms of where to market and the prospects you want to reach with your franchise marketing, you can begin deciding how to best connect with those prospects.  Set your budget, and then choose the most effective ways to allocate your franchise marketing dollars.

Of course, if you decided to start franchising your business because people came to you asking if they could purchase a franchise, then your initial franchise marketing program should start with these prospects.

Thinking About Franchising?

NFA Franchise Consultants have the experience to help businesses franchise.  Just watch and listen to some of our client case studies and video testimonials.  We can HELP YOU and it doesn’t cost anything to call and talk to us! 

So, if you are still asking the “should I franchise my business” question over and over with no clear direction, give us a call at (706) 356-5637, or contact us through our online form.  We look forward to helping you take your business to the next level and beyond.