How to Spot a Great Franchise Opportunity

As a franchise public relations firm we have had the opportunity to work with some truly fantastic franchises and anticipate being able to work with many more.  We've had multiple friends ask us about the franchise industry and how it works.  Getting into a franchise opportunity can easily be a fantastic business idea, but how do you spot the a great franchise opportunity?  There are a couple signs that you've found yourself a great franchise opportunity, which include the following:

1- Earning potential is there: When you're trying to figure out if the franchise opportunity you have found is a good one you must evaluate what kind of earning potential is really there.  Can you make a decent living from the franchise?  Ask yourself what kind of money you truly need and want to make, then determine what the potential is from your franchise opportunity.  You will need to estimate the potential earnings.  Some franchisors make this type of information public and publish this kind of information in a document (Franchise Disclosure Document/FDD).  If not you may want to speak with other franchisees about the earning potential.

2- Satisfied franchisees:  If you decided to speak with other franchisees regarding the earning potential you might as well ask how satisfied they are with the franchise.  Meet and discuss with them to get their honest opinions on the franchise.  You may also want to find and speak with ex-franchisees as well.  Get as well-rounded of an opinion as possible.  If you find that a good portion of franchisees that you've spoken with are pleased with the franchise then you may have a great franchise opportunity on your hands.

3- Strong support system from franchisor: Does the franchise opportunity you have found offer any kind of training or support?  Support from the franchisor is important and really, quite crucial at the start up stage.  When you're trying to get your franchise up and running it will become important to have the training and support from the franchisor, especially to help your franchise grow.

4- Overall growth: If you are looking to become involved with any franchise you must see some sort of company growth otherwise what's the point, right?  Ongoing growth in the number of franchise units is a good indication that the franchise itself is growing and obviously you want to be apart of a franchise that is growing.  Seek information about the type of industry that the franchise is in as well to help form an opinion.

5- The fit: While all of the above criteria will be crucial when deciding on whether a franchise opportunity is good or not, the most important is how the franchise fits or connects with you.  If you don't feel that the franchise is a good fit for you then the earning potential, satisfied franchisees, support from the franchisor, and overall growth won't mean much to you.  Really consider what the franchise is all about and how that fits with you and your core values and interests.

Looking for more tips on how to spot a great franchise opportunity?  Feel free to leave us a comment or contact us.

Relationship Building as a Franchise

A successful relationship between a franchisor and franchise can lead to long-term growth for a franchise and the strength of that relationship is arguably one of the most important parts of owning a franchise.  The relationship, especially that between a franchisee and franchisor, is a very distinct type of relationship and as a franchise PR company, we have seen that with many of our PR clients.  It is often compared to that of a relationship between an employer and employee, but really it is quite different.  Whether you are the franchisee or franchisor, odds are you see the importance of building a solid relationship together and that relationship is all important when it comes to helping your franchise grow.  After doing franchise public relations for so many different franchise companies we have compiled a few of our own suggestions on building solid relationships as a franchise.  Here are a few tips on building strong relationships within a franchise:

1- Seek to improve those communications skills: When it comes to building a relationship between a franchisee and a franchisor communication is key.  Practice your listening skills and truly take the time to understand where each other is coming from.  If a serious issue or crisis arises you need to be able to work together as a team to get through it.  As a franchisor you need to make sure you are keeping your franchisee in the loop to the best of your knowledge and abilities.  As a franchisee you shouldn't be afraid to speak up if something seems amiss, but you should however be able to organize your thoughts and pose questions to your franchisor in such a way that you work towards solving problems instead of starting new ones.  

2- Have a little faith: As a franchisee it is important to have a little faith in your franchisor and vice versa.  Having faith in what one another is doing is one of the best ways to develop trust with one another, which is absolutely key in the relationship building process.  Policy changes and all sorts of issues could potentially crop up, but standing behind your franchisor is important to the relationship building process.  Draw upon those communications skills we mentioned in tip #1 as part of having faith in one another stems from having open communication with one another.  

3- One-on-one visits: Never underestimate the power of a one-on-one visit as a franchisor.  Most franchises have sales visits, conventions or meetings that are scheduled all throughout the year.  These types of events are great to attend as a franchisor as they give you a great opportunity to communicate your visions for the franchise.  Attending these types of events shows prospective and current franchisees future potential for the growth of the franchise and opens the communication floodgates.

Looking for more tips on successfully building relationships as a franchise?  Feel free to comment below or contact us.

Tying the Holidays into Your PR Tactics

Now is the time to give your PR strategies and tactics a holiday slant.  Working the holidays into a PR campaign, event, or press release can attract attention when done well.  As a franchise public relations firm we always work hard to ensure that our clients get the maximum amount of coverage throughout the holiday season.  Here are a few tips on tying the holidays into your PR tactics:

1- The holiday pitch: Consider how you will pitch your stories during the holiday season.  Pitching your stories in waves could prove to make your release much more successful during the holiday season.  What do we mean by waves?  By waves we mean pitching your story at multiple, critical times.  Pitch your story well before the holiday, especially if you are trying to get your business or franchise featured in a particular magazine's special interest section which will air at a certain time.  The second wave should be done two to four weeks before the holiday.  Some reporters need stories at the very last minute before a holiday and need a release to fill a vacancy, so pitching last minute could actually prove to be successful as well.

2- Have multiple story ideas: Gearing up for the holidays you should have multiple story ideas lined up way ahead of time.  Having multiple ideas in the works is always a great idea since you never know exactly what journalists are looking for, so give them a little bit of everything to help ensure getting some holiday buzz during the holiday season.

3- Run a contest: A holiday contest is a great PR tactic to have at your disposal.  We have seen some of the best, most effective contests done during the holiday season.  Throwing a fantastic holiday-themed contest could provide your business or franchise with some great exposure during the holiday season.

4- Create a poll:  Another great holiday PR tactic is creating a holiday-based poll.  We have seen some of our franchise public relations clients get some exposure from a good poll.  You could create a poll about "the hottest holiday gifts of this season."  When a poll is interesting, people typically will respond.  This could be as simple or complex as you want to be, but it could generate some buzz around your business or franchise.

Looking for some more holiday-based PR tactics or have your own ideas that you would like to share with our franchise public relations team?  Feel free to leave us a comment below or contact us.  

Promoting Your Business or Franchise During the Holidays

The holidays are once again upon us and with that in mind you and your franchise are probably gearing up to heavily promote your business or franchise's services and products.  A big part of franchise PR is preparation for the holiday season.  Whether your franchise or business is promoting a service or product, the holidays make for great opportunities to grab press attention.   Grabbing headlines during the holiday months can be a little more difficult, but keep the following tips in mind to get some great recognition for your franchise or company:  

1- Holiday news cycle: Before you try to take the holiday angle when promoting your business or franchise's service or products, make sure you know the holiday news cycle.  The holiday news cycle gives loads of opportunities for all organizations and whatever product or service they sell.  Publications everywhere are filled with special features on all sorts of topics ranging from holiday outfits on a budget to finding the perfect gift for $50 or under.  If you are looking to target a weekly or monthly publication you need to begin pitching in advance to secure your spot in your desired publications.  

2- Deck out your press releases during the holidays:  Press releases sent out during the holidays, whether your company does them in house or is working with a franchise public relations firm, need to have that holiday slant.  The holidays provide a great time to start creative campaigns which could include an online contest or video creation contest.  Whatever you choose to do, it needs to be fun, exciting and needs to snag some holiday headlines.  Press releases that surround your holiday PR tactics should be as fun and exciting as the holiday contests you are running.  The point is you have to have your press releases truly stand out during the holiday season in order to stand out from the rest of the crowd also trying to grab headlines during the holiday season.  The goal is to make your press releases the ones journalists want to feature.  

3- Getting some visibility:  As we said before, getting some attention from the media during the holiday season can prove to be quite difficult, so in order to be seen and get some visibility you must be willing to think outside of the box.  That is the nature of public relations.  To get some visibility consider gaining additional exposure by creating a feature news release.  A feature news release is typically written like a news article and are used by various media outlets as source material.  Newswires have feature news calendars that cover a variety topics, which includes holiday themes.  The themes correspond with publication dates.  Distributing your feature news release to the appropriate editors in advance of the deadline is a great way to increase your business or franchise's visibility during the holiday season.

As a franchise PR firm we know that getting great press can be difficult during the holiday season.  If you are looking for more tips and tricks on promoting your business or franchise during the holiday season feel free to comment below or contact us.  

Marketing Your Franchise

While owning a franchise is great for the instant brand recognition and potential for immediate sales, it does not necessarily ensure success.  To make sure your franchise is always growing, you must consider your marketing efforts to keep growing.  As a franchise PR firm, we know how vital public relations and marketing is to a franchise looking to prosper.  Here are a few tips on marketing for your franchise:

1- Know your consumer:  Odds are if you purchased your franchise then you probably purchased it for a reason, such as its potential.  Believing isn’t enough though.  You must know your consumer and be able to adapt and make adjustments according to changing trends.  Your franchise must be able to meet consumer needs.

2- Turn to promotion: Once you have figured out who your consumer or target audience is you should know what mediums they use to seek information.  Turn to promotion to push your products or services through advertising campaigns, TV and radio commercials, Internet advertising, and direct mail incentives.  All should be done in combination with franchise public relations efforts.  Most franchise's will have a public relations firm that specializes in franchise public relations.  Working with a public relations firm, whether you are a business or franchise owner, will help provide solid guidance and help initiate effective campaigns.   

3- Powerful marketing collateral: Marketing collateral is a great way to provide potential customers with information on your franchise or business.  The more unique and engaging the collateral the more likely consumers are to hang on to it and read it rather than ignore it or throw it away.  Marketing collateral includes brochures, white papers and sales videos.  

4- Effective website: Having a great website is extremely important these days.  With millions of people shopping online, your franchise or business must have an effective website that informs potential customers of who your company is, what your company does and brings in sales.  If you are a franchisor, make sure you look into the rules regarding having a website for your own piece of the franchise pie.  If you are allowed to create your own separate page, do so.  

5- Implement a marketing database: Implement a marketing database as a way to help you log your marketing progress.  A database will help you stay organized and keep track of your customers and any new leads.

If you are looking for more tips on how to market your franchise, feel free to comment below or contact us.

Make Your Press Conference Successful

In a previous blog we mentioned events associated with public relations.  One of those events is the press conference.  Press conferences can be very successful for your franchise or business when it is done in the right way.  What makes a press conference successful versus unsuccessful?  Multiple factors make up the answer to this question and we though we would cover that in a blog.  Here are a few tips on making your press conference successful:  

1- Pick a good date and time:  Choosing Christmas Day or an even lesser known holiday isn’t a great day to hold your press conference on.  Time is also another factor.  If you decide to throw your press conference right at the rush hour time slot reporters will not be pleased having to fight the traffic just to attend your conference.  Try to choose a day that is holiday free and time appropriate to ensure the max amount of coverage, after all, the point of throwing a PR event like a press conference is to get coverage.  

2- Take control:  Always keep in mind that you and your franchise (and perhaps your franchise public relations firm if you are working with one) run the show when it comes to a press conference.  You are throwing the event and you control it.  Reporters shouldn’t be shouting out questions or speaking out of turn.  You have the right to call on reporters and answer the questions you wish to answer.  It’s your show, so take control.

3- Manage your time wisely:  Most press conferences don’t run very long.  Some will run for fifteen minutes, some for a half hour and some for perhaps an hour.  Always keep the time in mind.  Make sure you are covering exactly what you wished for the press conference to cover.  Don’t waste time or stall.  Get straight to the point.

4- Watch how you answer questions:  During a press conference, be prepared for a full battery of questions.  Know what questions you are willing to answer and which questions you are not comfortable answering.  If you are working with a public relations firm they will get you prepared for this type of event. 

5- Preparation is key: Preparation is a vital part of holding a great press conference.  Do a basic run through of possible questions and answers that may get asked of you and your franchise during the press conference.  A mock press conference is a great way to help you prepare for the real deal. 

Have any great tips you can recommend on throwing a successful press conference?  Feel free to leave tips below or contact us.