8 Reasons to Branch into a New Type of Franchise
Everyone's heard of McDonald's. They've likely eaten there several times throughout their life. They're such a household name that people across the country, and across the world, know exactly who they are, and what type of foods they offer. They also have an opinion about the food chain brand, whether it be good or bad.
With so much exposure going on for decades at a time, McDonald's is simply in the eye of the consumer. Corporate can release marketing trends, new products, etc. that might change individual opinion. But on a location-by-location basis, it's likely there's very little an individual owner can do. How one McDonald's is cleaned, or staffed, or ran isn't going to make or break the entire brand. They're simply too big to touch.
But that simply isn't true for smaller or younger brands. One location can turn someone's opinion completely around, or simply introduce them to a concept to begin with. It's also one of the reasons many choose to franchise with the new brand, or the company who is simply less recognized.
That's not the only perk, however, there are plenty more reasons franchisees pick up-and-coming brands. For instance:
8. The Idea of Creativity
For some, the entire draw of starting their own business meant that they wouldn't be pigeon holed in. That mantra can be taken a step further by signing with an unknown concept. Here you get to introduce the population to your business (whether brand or type or both), and show them how it's done. You can also work in new and creative ways to market and appeal to an ever-growing customer base.
7. No Customer Expectations
As mentioned above, new brands won't have to combat nasty rumors or precious bad experiences. They won't have good ones to be celebrated with, either (yet). But this gives franchisee owners the opportunity to start fresh.
6. You'll be the Only Kid on the Block
When your business is unique, it's a huge perk to have a niche cornered. Your company might be very specific, but it also means you're the expert. Anyone in the area looking for what you offer will head through your doors. And if their experience is good enough, they'll urge for others to do the same.
5. More Freedom
Franchisees who are newer or who have less of a reputation are also more likely to allow franchisee input. That includes store design, employee uniforms, and more. (When dealing with their individual location.) While this isn't a universal rule, it is one that can account for extra control, which can do a lot for morale – whether it's yours or your employees'.
4. People Will Want to Try Something New
With an interesting business mantra, you're likely to pull in plenty of curious customers. Those who stop in (and shop!) just because they want to know what you're all about.
3. There's Less – if Any – Competition
You might have to work to drum up business, or to inform folks of what it is that you do in the beginning. But you likely won't be fighting the other guys for customers. No bad blood, period.
2. You Can Specialize Your Business to Your Interests and Skills
Not everyone has the skills they desire to start a "traditional" franchise. But by branching out, you can follow your individual skills set toward a business that not only reflects your past, but that lines up with the type of skills you wish to continue.
1. Free Advertising
From now until you sell the business, you will have an incredible conversation starter. A go-to ice breaker at parties – and one that will really interest people. This spreads business through word-of-mouth, without costing you a dime. In fact, it's also likely that your friends will talk about their friend's interesting business, only adding to your free marketing setup.