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brandEXPANSION Hot Press

Franchise & Business Opportunity News

The Art of Making Your Brand Sizzle

Written on July 29th, 2007 by Joseph in Franchise Industry.

By Will Kiesling

There is an old saying in the restaurant business “You sell the sizzle, not the steak.” This axiom aptly expresses what all franchisors aim to accomplish: Namely, to gain a competitive advantage over their competitors by setting themselves apart. Copying an existing franchise concept and attempting to compete against them with the same idea will result in, at best, mediocrity. To sell more franchises, you must find a unique way to market yourself.

There is good news however. New franchise concepts and ideas, like those pictured here, are generated everyday to compete against the juggernauts of the franchise industry like McDonald’s, H&R Block, Century 21, and a myriad of other franchises. No matter what franchise you are, brand “sizzle” is crucial to the success of your franchise.

Here are some tips to give your franchise the “sizzle” it needs to be successful and expand:

Credibility
>This concept cannot be overstated. Appearing to be a credible franchise, upheld by a strong support network is key. Without these fundamental elements, you can not expect to expand your franchise beyond its present capacity. Franchisors should consider hiring a designer to give the franchise a more contemporary feel. Marketing & PR materials should also be kept up to date. These include websites, brochures, flyers; these materials should look better than your competitors’ promotional materials. Lastly, retaining a good network of contacts is crucial such as attorneys, brokers, and consultants, which can provide valuable services to your franchise. Brand Expansion provides such a network and takes all the legwork out of starting a franchise.

Differentiation
>To expand upon the concept of differentiating your franchise, it is useful to examine the EST theory developed by McMillian/Doolitle. This theory states that in order to differentiate a business, a business must fall under one of these categories : Be the BiggEST( have the largest selection), be the CheapEST (have the lowest prices), be the HottEST (have the newest fashions), or be the EasiEST (have the best service). Clearly, a franchise cannot excel in all 4 of these areas and maintain a clear completive advantage. The idea is to excel in one of these categories and have that be the crux on which you sell new franchises and attract people into your stores. For more examples of this concept, click here.