Will the Franchise that’s a Success in Scottsdale be a Bummer in Boston?

admin    Web Marketing     boston, Bummer, Franchise, Scottsdale, Success, That’s

Will the Franchise that’s a Success in Scottsdale be a Bummer in Boston?

It is essential, as part of your franchise education, to compare your franchise territory to other territories in the system. Here are some particular areas to investigate.

Total population numbers

The majority of franchises are sold by territory. The franchisor sets the territory size asked to support that particular franchise. Diligent franchisors will not knowingly sell a territory that doesn’t have the population numbers to support their franchise. But they will sell territories that fit their minimum criteria. If you are purchasing one of those marginal territories, you want to find out that up front, and you want to determine if the territory size is expected to increase or decrease in the foreseeable future. Ask the franchisor for the names of franchisees whose territories are similar in size to the territory you are considering. Call them and find out how successful they are.

Population density

Ask the franchisor for the standard radius for appealing customers. Is it 2 miles? 10 miles? Then ask for the names of franchisees who have population densities comparable to the densities in the territory you are considering. Call them to find out how successful they are.

Demographics

A futurist named Andrew Zolli summarized the importance of demographics:

“You can’t understand the future without demographics. The composition of a society – whether its citizens are old or young, prosperous or declining, rural or urban – shapes every aspect of civic life, from politics, economics, and culture to the kinds of products, services, and businesses that are likely to succeed or fail. Demographics isn’t destiny, but it’s close.”1

When you analyse the demographics of your territory, you will be weighing a number of factors, potentially including gender, race, age, income, disabilities, education, home ownership, number and value of single-family homes, and employment status.Will your franchise draw  a broad demographic or does it have specific appeal? If the franchise attends to a market segment – say students, wealthy homeowners, or small business owners, for example, does the territory you’re looking at have enough of those customers? Is their average income and education level in-line with the franchises typical customer’s income and education? Ask the franchisor which territories are similar in terms of demographics. Call them and find out how successful they are.

Do Your Own Research to Get the Best Franchise Information

In addition to talking to  existing franchisees, do your own research on current and projected population totals, population density, and demographics, including economic trends. You should be able to find information on line. Go to  your local reference librarian to check what s/he has available. Additionally, your state may offer free services.

Don’t do the mistake of establishing a franchise purchasing decision on your level of enthusiasm or on what you personally believe will work. Make certain you have a market, and that the market is expected to stay the same or improve over the next 10 years (10 years is a common franchise contract term).

If you are disposed to work hard, becoming a franchise owner can help you attain your financial and lifestyle goals. Just be sure to eliminate as much risk as possible. Do your research before you sign on the dotted line.

1 Andrew Zolli, “Demographics: The Population Hourglass,” Fast Company Magazine, March, 2006.

Sign up for our FREE monthly newsletter at – http://educatedfranchisee.com/signup.aspx

The Educated Franchisee is dedicated to franchise education through the sharing of franchise information. Our objective is –

‘To create educated franchise buyers that have clearly defined objectives and are able to recognize the right, or wrong, franchise when they see it.  An educated franchise buyer will move into the franchisee role with their expectations properly set and will have a heightened potential for success within the franchise system creating a win/win for all involved.

Related Demographics Articles

We’re Not in Kansas Anymore: Why a Franchise that Takes Off in Topeka might Tank in Tampa

admin    Web Marketing     Anymore, Franchise, Kansas, Might, Takes, Tampa, Tank, Topeka, We’re

We’re Not in Kansas Anymore: Why a Franchise that Takes Off in Topeka might Tank in Tampa

It is essential, as part of your franchise education, to compare your franchise territory to other territories in the system. Here are some particular areas to investigate.

Total population numbers

The majority of franchises are sold by territory. The franchisor sets the territory size asked to support that particular franchise. Diligent franchisors will not knowingly sell a territory that doesn’t have the population numbers to support their franchise. But they will sell territories that fit their minimum criteria. If you are purchasing one of those marginal territories, you want to find out that up front, and you want to determine if the territory size is expected to increase or decrease in the foreseeable future. Ask the franchisor for the names of franchisees whose territories are similar in size to the territory you are considering. Call them and find out how successful they are.

Population density

Ask the franchisor for the standard radius for appealing customers. Is it 2 miles? 10 miles? Then ask for the names of franchisees who have population densities comparable to the densities in the territory you are considering. Call them to find out how successful they are.

Demographics

A futurist named Andrew Zolli summarized the importance of demographics:

“You can’t understand the future without demographics. The composition of a society – whether its citizens are old or young, prosperous or declining, rural or urban – shapes every aspect of civic life, from politics, economics, and culture to the kinds of products, services, and businesses that are likely to succeed or fail. Demographics isn’t destiny, but it’s close.”1

When you analyse the demographics of your territory, you will be weighing a number of factors, potentially including gender, race, age, income, disabilities, education, home ownership, number and value of single-family homes, and employment status.Will your franchise draw  a broad demographic or does it have specific appeal? If the franchise attends to a market segment – say students, wealthy homeowners, or small business owners, for example, does the territory you’re looking at have enough of those customers? Is their average income and education level in-line with the franchises typical customer’s income and education? Ask the franchisor which territories are similar in terms of demographics. Call them and find out how successful they are.

Do Your Own Research to Get the Best Franchise Information

In addition to talking to  existing franchisees, do your own research on current and projected population totals, population density, and demographics, including economic trends. You should be able to find information on line. Go to  your local reference librarian to check what s/he has available. Additionally, your state may offer free services.

Don’t do the mistake of establishing a franchise purchasing decision on your level of enthusiasm or on what you personally believe will work. Make certain you have a market, and that the market is expected to stay the same or improve over the next 10 years (10 years is a common franchise contract term).

If you are disposed to work hard, becoming a franchise owner can help you attain your financial and lifestyle goals. Just be sure to eliminate as much risk as possible. Do your research before you sign on the dotted line.

1 Andrew Zolli, “Demographics: The Population Hourglass,” Fast Company Magazine, March, 2006.

Sign up for our FREE monthly newsletter at – http://educatedfranchisee.com/signup.aspx

The Educated Franchisee is dedicated to franchise education through the sharing of franchise information. Our objective is –

‘To create educated franchise buyers that have clearly defined objectives and are able to recognize the right, or wrong, franchise when they see it.  An educated franchise buyer will move into the franchisee role with their expectations properly set and will have a heightened potential for success within the franchise system creating a win/win for all involved.

Related Demographics Articles

Location, Location, Location: How to Determine if a Specific Franchise Will Work in Your Area

admin    Web Marketing     Area, Determine, Franchise, Location, Specific, Work

Location, Location, Location: How to Determine if a Specific Franchise Will Work in Your Area

It is essential, as part of your franchise education, to compare your franchise territory to other territories in the system. Here are some particular areas to investigate.

Total population numbers

The majority of franchises are sold by territory. The franchisor sets the territory size asked to support that particular franchise. Diligent franchisors will not knowingly sell a territory that doesn’t have the population numbers to support their franchise. But they will sell territories that fit their minimum criteria. If you are purchasing one of those marginal territories, you want to find out that up front, and you want to determine if the territory size is expected to increase or decrease in the foreseeable future. Ask the franchisor for the names of franchisees whose territories are similar in size to the territory you are considering. Call them and find out how successful they are.

Population density

Ask the franchisor for the standard radius for appealing customers. Is it 2 miles? 10 miles? Then ask for the names of franchisees who have population densities comparable to the densities in the territory you are considering. Call them to find out how successful they are.

Demographics

A futurist named Andrew Zolli summarized the importance of demographics:

“You can’t understand the future without demographics. The composition of a society – whether its citizens are old or young, prosperous or declining, rural or urban – shapes every aspect of civic life, from politics, economics, and culture to the kinds of products, services, and businesses that are likely to succeed or fail. Demographics isn’t destiny, but it’s close.”1

When you analyse the demographics of your territory, you will be weighing a number of factors, potentially including gender, race, age, income, disabilities, education, home ownership, number and value of single-family homes, and employment status.Will your franchise draw  a broad demographic or does it have specific appeal? If the franchise attends to a market segment – say students, wealthy homeowners, or small business owners, for example, does the territory you’re looking at have enough of those customers? Is their average income and education level in-line with the franchises typical customer’s income and education? Ask the franchisor which territories are similar in terms of demographics. Call them and find out how successful they are.

Do Your Own Research to Get the Best Franchise Information

In addition to talking to  existing franchisees, do your own research on current and projected population totals, population density, and demographics, including economic trends. You should be able to find information on line. Go to  your local reference librarian to check what s/he has available. Additionally, your state may offer free services.

Don’t do the mistake of establishing a franchise purchasing decision on your level of enthusiasm or on what you personally believe will work. Make certain you have a market, and that the market is expected to stay the same or improve over the next 10 years (10 years is a common franchise contract term).

If you are disposed to work hard, becoming a franchise owner can help you attain your financial and lifestyle goals. Just be sure to eliminate as much risk as possible. Do your research before you sign on the dotted line.

1 Andrew Zolli, “Demographics: The Population Hourglass,” Fast Company Magazine, March, 2006.

Sign up for our FREE monthly newsletter at – http://educatedfranchisee.com/signup.aspx

The Educated Franchisee is dedicated to franchise education through the sharing of franchise information. Our objective is –

‘To create educated franchise buyers that have clearly defined objectives and are able to recognize the right, or wrong, franchise when they see it.  An educated franchise buyer will move into the franchisee role with their expectations properly set and will have a heightened potential for success within the franchise system creating a win/win for all involved.

T

Related Demographics Articles

Attraction Marketing or a Franchise, Which is Best

admin    Web Marketing     Attraction, Best, Franchise, marketing

Attraction Marketing or a Franchise, Which is Best

What is a franchise and why do people like to invest in them. Usually to the sum of thousands, if not tens of thousands, to buy into them and then another ton of money to operate. What is the attraction?

First, a franchise has a yellow brick road mentality. Everything is laid out for you, no guess work as to what to do next. Everything is step by step and all you have to do is follow what and how the parent company has set up for you making your success almost guarenteed. I don’t think anyone buys into a Mcdonalds franchise because they have a burning desire to sell hamburgers. They buy in because of the proven marketing system they has in place which all but guarentees their success. All they need to do is come up with 500,000 to a million+ and some operating expense money and their in business. If you have that kind of money, go for it.

Another reason is the idea that “your not in this alone”. Once in business, they have their company reps that will come around from time to time to see if you need help or advice. Of course they are also there to make sure your following all company proceedures. If your not, you could be penalized and perhaps even lose your franchise. I don’t call that being in your own business if their is someone out there who can take it all away as quickly as you bought into it.

I once owned a small cleaning franchise that cost me about ,000 up front to buy in for the privilege to represent their company. This was one of the smaller packages. However they it easy to get into business. They set up cleaning accounts, credit accounts at area supply houses so I could walk in and out with the supplies I needed on the strength of the parent company credit backing.

But all this cost more money. There were franchise fees based on monthly billiable business, book keeping fees, commisions for salesmen out there getting you more business. All this on top of the 12,000 buy in fee. Does this sound like it could get expensive? In many cases you were simply buying yourself a higher paying job since most of what you did was by your own efforts. This meant 7 days a week and 8-10 hours a day. Sound like something you want to get involved in?

Now, what does this have to do with the franchising and the attraction marketing process?

In many franchise situations, before they give you the keys to the kingdom, they require you attend a company school or training program. Mcdonald has something called hamberger university. You can learn the Attraction marketing process the same way.

There a university through which you can learn click by click, step by step, how to create a web of content through the internet with hundreds and soon thousands of links all pointing back to you and your product. You will also learn how to take many of the tools we keep hearing about, everytime we visit a web site that seems interesting to us, and link them all together with one purpose only, to send people to your web site and product already interest in what you have to offer.

With a franchise form of business, you will never need to guess what to do next. You will have a point by point system all set up for you to follow. The attraction marketing process will do exactily the same with one big exception. Attraction marketing is strictly generic process. learn it and simply product inwhether it be online or offline. So if your new to internet marketing or been around the block a few times without getting the results you have been hoping for, you need this system. It works!

Within in a short time, and we are talking only months and not the years normally associated with building a business, you will find that people are looking for you. They will know who you are and what you have to offer. You are now the hunted and not the hunter. Can you imagine how quickly your business and income will grow if all these people were looking for you and you only need to spend your time and money with people wanting to do bisness with you.

Oh! I almost forgot another very important fact about this attraction marketing process. You can build your business on a very low budget. Most of what you learn will be teaching you how to market cost free or at least at a very low cost. This is the last system you will ever need to know to be successful at internet marketing. Make no mistake about the fact you need to know how to market. Marketing is the life blood of any business so you may as well use the best.

Thank You

Jerry Lewis

Related Marketing Process Articles

On Google’s Franchise (and McCormick’s)

admin    Google Optimization     Franchise, Google's, McCormick's

Google has a competitive advantage. In fact, one might even say it has a franchise in web search. I wouldn’t say that. I mean, Google does have a franchise; but, it doesn’t have a monopoly on web search and never will. There are real problems with Google’s model that are often overlooked. It does a poor job of finding certain sites that are difficult to describe in keywords. For this reason, there may still be a market for web search in the form of specialized niche directories and in some of these “social search engines” (e.g., Stumble Upon) for many years to come.

I’m not suggesting any of these services will be as successful as Google; I’m sure they won’t be. I am simply pointing out that there is a difference between a need and the means by which that need is satisfied. Even as the dominant search player, Google will only have a franchise on the means (keyword search); it will not have a franchise on the need (finding stuff on the web). Also, Google can not, at present, rightly be called the dominant search player. There is no dominant player in search. Google is the leading search player. It is also the catalyst for many changes in search. But, it is not yet the dominant player in search the way McCormick (MKC) is the dominant U.S. spice producer.

Looking at McCormick’s franchise is actually a pretty good way of evaluating Google’s. Why do I say McCormick is the dominant player (domestically) in spice, but Google is not yet the dominant player in search? There are a few reasons.

McCormick has a 45% share of the U.S. retail spice market. Its closest competitor has a 12% market share. We may differ about exactly how the web search pie is carved up. But, I think we can agree that Google’s share of the market is less than 45%, and that at least two of its competitors have a share of the market greater than 12%. So, Google’s position differs from McCormick’s in two material respects (already). Google has a smaller slice of the pie, and the search market is less fragmented than the spice market.

The spice market is an upside down funnel. The few producers are at the top. They feed their products through three distribution paths: retail, industry, and restaurants. In each case, the shape of the upside down funnel remains intact, because the widening happens at the very end. The ultimate consumer of McCormick’s product doesn’t get to choose from all available spices. His choice is always indirect. He picks a grocery store, a food product, or a restaurant. Then, must choose from the spices that particular supermarket chooses to carry, or the restaurant he frequents chooses to use (and/or make available).

In search the story’s a little different. There is still something of an upside down funnel shape in search. Although, it is less pronounced than it was a few years ago. Search results are fed through dependent sites that searchers visit. But, it is the searcher who chooses the dependent sites. A few of these dependent sites account for a large part of all searches. That is very different from the spice market, where no supermarket or restaurant chain accounts for a large part of all spice consumption – none even comes close. So, the searcher has a much bigger role in choosing his search provider than the spice consumer has in choosing his spice provider. Even though it is true you are sometimes searching without knowing Google is the search provider, the situation is nothing like it is at McCormick. When eating a meal you aren’t thinking about McCormick. Quite often, however, you are using a McCormick product. Whether it was in that package of spices you used to cook a meal at home, or in that manufactured food product, or in the dish you ordered at the restaurant, you are a consuming a McCormick product.

What matters as far as the investor is concerned is that the ultimate consumer of McCormick’s product rarely makes an active, unfettered choice to consume that product over all other competing products (or even many competing products). The closest he comes to making such a choice is at the supermarket; though even there, the decision of how much shelf space to allocate to each company’s products was made for him. To use Google, the first time searcher must make an active, unfettered choice.

Finally, there is the matter of infrastructure. This consists of two parts: production and distribution. McCormick has an existing production infrastructure which is helpful as far as costs are concerned, but isn’t especially valuable. It could be duplicated by a new entrant with deep pockets. McCormick’s distribution infrastructure is almost impossible to duplicate. It is worth far more than it cost McCormick to create it. Prying McCormick’s customers (situated at the narrow of that inverted funnel) away from the company’s products would not be easy. This distribution infrastructure gives solidity to McCormick’s spice franchise in the U.S. In some instances, it will also help McCormick aboard (as some of the company’s customers are expanding globally and will be inclined to stick with McCormick in their overseas operations).

Google’s production infrastructure (the algorithm and the index) is easy to duplicate and will become even easier to duplicate in the future. There isn’t much of a barrier to entry here. Google may currently offer the best search service around, but there is no reason to believe this will always be the case. Distribution is very often the most valuable part of any franchise (it is usually the part that is hardest to duplicate).

So, the natural question is: in the world of search, if you build it will they come? Will the best search engine always attract the most searchers? Probably not. That’s good for Google, because it won’t always be the best search engine. Google has a great brand. Whatever value is in Google comes from that brand. That brand is what will keep searchers from flocking to the inevitable newer, better search engine.

All of Google’s revenues are ultimately dependant upon attracting searches. Getting those searches requires two things. First, millions of people must make the active, unfettered choice to search Google. Then, those millions of people must keep searching with Google. The brand is the key to step one. The service is the key to step two. Search customers are sticky. But, they probably aren’t as sticky as we think. It’s very easy to take immediate action on the web (just click a link). Switching away from Google isn’t like switching away from Windows.

That leaves the brand. True, when you think search, you think Google. But, is that brand worth $120 billion? No – and neither is Google.

need a website? want to be #1 on Google? visit our florida web design company homepage