One of the most important aspects of building a successful franchise is ensuring that your business can be found by your customers. A consumer research survey has found that 97% of people have begun their search for a business online, with 54% searching for a business at least once a month.
If your business isn’t getting found online, that means fewer potential customers are visiting your business. Read on to learn how you can begin building your digital presence and get your franchise found.
One of the biggest challenges of opening a new business is getting in front of potential customers.
Since most people in your area likely haven’t heard of you, a few well-placed ads can generate immediate interest in your business, especially among those who are in need of what you offer but haven’t had an opportunity to buy from a local vendor or service provider until now.
Whether you’re looking for more traffic to your website or simply want the phone to ring, advertising a franchise locally can be done without costing an arm and a leg. When done well, it will pay for itself and then some. Read more
When you think of businesses you frequent, or have heard of, you can probably envision their logo, colors, and fonts along with other design-based characteristics that make up that company’s brand.
Crowdspring determined that it takes consumers 10 seconds to form a first impression of a brand’s logo, but 5-7 impressions to recognize the logo. The increased exposure is likely why you’re able to quickly recall franchise brands, which makes the branding an important consideration when choosing to open a franchise for yourself.
If you’re considering a franchise, it can be difficult to know where to start––especially when you’re handed documents you’re not familiar with.
When it comes to specific documents all prospective franchisees will work one way or another, The Franchise Disclosure Document (FDD) is one of the most important since it holds just about everything there is to know about the franchise.
In short, the better you understand what’s inside the FDD, the better prepared for everything that comes next. While no franchise can guarantee wild success, knowing what to look for in these documents allows to make a smarter, more complete assessment of the opportunity by using all the resources at your disposal.
When planning to buy your own franchise, one of the biggest considerations is money. Franchisees will often review the franchise disclosure document provided by the franchise they are considering and look at all of the startup costs and fees. But, just like any major purchase like a home or vehicle, running a franchise means there are going to be ongoing costs to factor into your decision as well.
It’s important to plan out a budget ahead of purchasing your franchise to maximize the likelihood and speed at which you reach profitability and to ensure that your plan to purchase a franchise is financially sound in the long run.
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