105
PANEL OF EXPERTS
Q: After visiting a franchise exhibition, what
should I do next?
ÉLISE BILLY the franchise agreement for your chosen franchise. The bfa
Principal solicitor, EXB Legal can also give you advice and, in particular, can point you
A: The key next stage is research. You should to guides on becoming a franchisee and to seminars you
narrow down to the franchises that were of most can attend.
franchise advice
interest. After contacting them for further Before making your decision, you need to be sure that becoming
information, they will let you know of the next a franchisee is right for you, and that the selected franchise is a
stage in their recruitment process, and may send you a more good match for you. The business should meet your financial
detailed prospectus. Your research should include internet expectations, and be in an area that interests you and matches
research, financial research (on the franchisor and on any your skill set. Once you have a shortlist, you will also want
franchisees for whom you can get information), speaking to as to compare them to similar franchises. You should assess
many existing franchisees as possible, liaising with the the support and package offered and the management team
franchise department at your bank, and getting legal advice on (although personnel could change).
KEVIN COX family, then there is no point even dreaming about it!
Franchise director, Destination Alliance From the gazillion brochures you collected, you will now perhaps
A: Very few people have the chance to make the type have whittled it down to 20-30 that are affordable – next you must
of investment required for a franchise more than once, ask yourself what you want to do. If you are a talented manger and
so you must get it right! Firstly, and most importantly, leader of people and derive a great deal of satisfaction from driving
sit down and very carefully analyse how much you teams then a one-man business may not be right for you!
can afford to invest – let’s be very blunt about it, as From the final short list, speak to each franchisor, visit the ones
attractive a proposition may be, if you cannot afford to purchase it, that excite you and make a very careful decision – if you do not
run it until it starts making money and continue to support your feel comfortable, walk away and start again!
Q: What should a franchisee be looking for in a
franchise’s marketing package?
NIGEL TOPLIS Marketing is the very basis of any successful business and a good
Managing director, Recognition Express, and franchisor will have programmes, systems and collateral to ensure
ComputerXplorers that the franchisee can build the business from the bottom up.
A: Most successful franchise businesses rely on two A good franchisor will provide several levels of marketing support,
key aspects of business management – sales activity from which the franchisee can select.
and marketing activity. Depending on the business (b2b, retail, food, ‘man in a van’) the
Sales activity is short term – instant response – and includes support may cover some or all of these:
things such as networking, gaining referrals, dealing one-to-one
with customers, after sales service, etc. It is about gaining rapport
●
Contact management system – critical to maintain an up to date
and engaging the customer or prospect such that you get a sale
●
Customer database
fairly quickly.
●
Product literature
Marketing is very much more medium to long-term and is about
●
Additional ‘hard’ collateral – detailing services and value added
setting the foundation of the business – creating brand awareness proposition
and generating exposure for the business – ensuring a much larger
●
Centralised marketing programmes – to generate appointments on
group of prospective customers know who you are and what you do. behalf of franchisees
GRAHAM MONK it compare with the competition? What happens after the launch?
Partner, SmartGrowth Given the business has been going for a few years I’m presuming
A: Sales are the engine that drives every business that there is a mine of other marketing materials, which address lots
and the fuel that powers that engine is marketing. As of different issues that you might encounter in the coming years?
a franchisee you’ll need to implement proven, Before you buy a franchise make sure that it has marketing
results-based marketing as and when it’s needed – it strategies and executions that will help you build a successful and
might be for things like seasonal dips in demand, the impact of a profitable operation! (If it doesn’t have them and you do decide to
new competitor opening in your territory or to attract new clients – go ahead I can recommend some good books about marketing that
you’ll have to become a marketing expert overnight. Remember a you will need in the near future...).
franchise is meant to be a turnkey solution, so you need to ask: Is
there a launch strategy? Does it have a proven track record attracting
Email your questions for the panel to:
prospects and turning them into paying customers? What is the
editor@businessfranchise.com
proposition – the ‘hook’ that generates consumer interest? How does
www.businessfranchise.com November 2009
BF102-103_Q&A_Nov09 .indd 2 15/10/2009 12:51
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