Franchise Marketing: Social Networking sites are just for kids right?
Dan Archer - Franchise Development Director, X-Press Legal Services - Director, BFA
Social networking sites are just for kids right? They are the exclusive preserve of teenagers swapping notes on alcopops and “wot 2 do on da wkd” aren’t they? All I can say to that is LOL.
The growth in recent years of Facebook, Linkedin and more importantly Twitter has been nothing short of astronomical. Whilst the traditional divide was Facebook for your social life and Linkedin for your business life it seems that Twitter crosses all boundaries. Recent figures suggest that Twitter usage is growing at a rate of 10,000 new users per day and unlike FB and Linkedin, businesses and business owners occupy the same space as random content from bored celebrities and opinionated teenagers.
If you are not familiar with Twitter the concept is elegantly simple. You sign up for a free account and you can then choose to follow whoever you wish. You can also share your thoughts with the world. The basis to the communications is a Tweet, which is a message that is limited to 140 characters and which is seen by those who follow the user that Tweets it.
If you are still with me the interesting bit comes next. You could spend time looking for the franchise that you may be interested in and following them. This will give you updates on the activity of that business and maybe even content from their franchisees. You could however choose in addition to follow subjects as well as users. If you set your Twitter account to search for #franchising you will receive details of every Tweet that has the word franchising in it. This will enable you to receive free updates on not only the businesses that you may be looking at but also the industries and franchise types that you are searching for. #whitecollarbusinesses would give details of that business type.
By following people as well as concepts and businesses you may be able to determine whether the franchisor that you are talking to is as “nice” as they appeared over the phone or when you met. This form of communication is so immediate that it can reveal quite a lot about the character of the Twitter user and the character of the Tweets could provide more insight into the nature of the franchisor.
As with many forms of the research that you will complete when you are considering franchising you cannot get it all on Twitter. It is however one of a new arsenal of research tools that the prospective franchisee can use when they are forming an opinion of which business is right for them.
One downside to Twitter though is that it is easy to miss something important and much easier still to receive lots of information which is useless. In order to ensure that you get the maximum benefit from the site the following top tips should help you syphon the cream from the Twitterati
Manage your connections
If you do not like or are not interested in the content that is coming from the people or subjects that you are following, stop following them.
Evaluate content for its worth
If the user that you are following does nothing other than sell his business or service I would question the value. This SPAM is not the original thought behind Twitter and most good users share thoughts and advice in abundance and if they do sell, do it in moderation. If all they do is sell, once you have seen the pitch, stop following them.
Look at who the Twitterer is
Businesses often use multiple Twitter accounts to send the same message and share with as many users as possible. If each user is the same organisation a subject can appear busier than it actually is.
Caveat Emptor
Buyer beware is the watchword for any franchise or business opportunity. If you follow the #franchising, in addition to the good content on genuine franchisors you will also see the get rich quick guys and the Internet millionaire club. If it seems too good to be true it probably is and the traditional good advice for franchise research still applies in this media. Meet the franchisor, speak to franchisees, do your research and check for bfa membership.
Dan Archer is Franchise Development Director for X-Press Legal Services and is a Board Member of the British Franchise Association. You can follow Dan on twitter by visiting www.twitter.com/therealdarcher
Franchise Business: No experience? No Problem!
Joel Caws - Technical Director, Select Your Franchise
The heart of a franchise business is its proven system. When a business wants to franchise its concept, it will generally run some pilot business which test the processes and systems which work together to make the business a success.
Once the pilots have proven that the business concept can work, the processes that form the core of the business idea can be documented so that another aspiring business person can replicate the same success. This is one of the core elements of a franchise.
One of the great advantages of having documented processes and procedures to follow means that practically anyone with a determination to build their own business can take a franchise concept and replicate its success. For this reason, many franchise opportunities require no previous experience but just a desire to work hard and a willingness to follow the proven system. Initial training and on going support is generally also provided by the franchisor to help ensure that if you take up their franchise opportunity you will have the best possible chance of success. In fact, in a lot of cases, having no experience may actually be an advantage as you will be completely open to the training and following the franchise system to the letter.
There are a few franchises that do require existing specialist qualifications or experience but these are usually clearly identified in any information you might read about their franchise opportunity.
So, for those who would like to work within a specific industry but have always thought it would not be possible, a franchise business might well be a way for your to realise your dream. Browsing through an online directory of franchise opportunities is a great way to start your search.
Advice on choosing a Business Franchise Opportunity
Nick Strong, MD - Select Your Franchise
A Business Franchise is a generic term which can cover most franchise business opportunities. The word ‘Franchise’ can be applied to pretty much anything that involves a license to use a brand or an idea. This is why it is often used in the film industry to describe a series of films that are produced along a common theme.
In the same way, this license to use a brand or idea can be used in business and is often referred to as “business format franchising”. A company who has come up with a good business idea and formula which proves itself to be successful, can effectively license out the right to use it to other individuals who would like to start up in business.
Part of the reason that business franchising has been so successful for brands like McDonalds and Subway, are the potential to expand in this controlled way also increases their brand awareness as their network grows. People become used to seeing the branded franchised outlets and the proven system ensures customers should always get the same service and quality regardless of the outlet they visit.
Even with lesser known brands, the power of having a larger network behind you gives potential customers confidence that they are not dealing with a ‘one man band’.
To start your search for the most suitable business franchise, one of the best ways is by browsing online business franchise directories. These will provide you with a good range of option with helpful tools that will help to narrow down your options by affordability, location and industry type.
You may also want to look at some franchise publications or visit a franchise exhibition in order to get a feel for franchising and to get an opportunity to see whats out there.
Once you have a short list of options to consider, you can make contact with the franchisors you have chosen and visit their head offices. This is a good way to meet them face to face and ask any questions you might have about their particular franchise opportunity.
It’s important to consider franchising as a long term investment so its important to obtain a list of references from each franchisor. These will commonly be franchisees who are already running their own franchise businesses and can give you helpful advice and opinions on their experiences.
Consulting industry professionals is also invaluable such as those approved by the British Franchise Association. Franchise Consultants can help you through the minefield of choosing a franchise, while a franchise lawyer can assist you with the legalities of taking on a franchise business.
Also make time to consult one of the franchise sections of the major high street banks. They can advise on the amount of finance they might be able to offer you. This may of course help in your choice of franchise business since you may well be able to afford more than you might think initially.
