Pros and Cons of Franchise Businesses

Written by Jim Brown


Pros and Cons of Franchise Businesses

Forrepparttar individual owner, there are definite advantages to franchising, some of which are outlined inrepparttar 105308 list below.

Pros of Franchise Businesses

Well-known trademark, either regionally or nationally, and its cumulative goodwill - savingrepparttar 105309 business ownerrepparttar 105310 cost of creating and advertising a name that customers already recognize. Established business framework - minimizingrepparttar 105311 startup problems and guesswork involved in starting a new business. Well-tested sources of supply and service - saving time and trouble in finding suppliers of needed products and equipment. Ongoing sales and marketing assistance - franchisors have proven, existing, and successful systems of advertising and marketing. Financial assistance - banks and similar lending institutions are willing to lend money to a business that hasrepparttar 105312 backing of a successful franchisor. Most franchisors have direct financial assistance or help in finding adequate sources of financing. Reduction of risk - you are buying into an established concept sorepparttar 105313 risk of failure is lower. Ongoing research and development - most franchisors constantly research and look into vital information such as competition, product demand, seasonal variations, and community attitudes. Site selection and business support -repparttar 105314 franchisor helps with selecting a suitable site location, building construction design and supervision, employee training, and operational support. Proven operating methods and procedures for creating and sellingrepparttar 105315 product. Standard quality, uniformity, and desirability ofrepparttar 105316 franchisor's product or service. Collective buying power and centralized purchasing system - franchises may be able to purchase supplies at a reduced cost sincerepparttar 105317 franchisor can purchase in bulk and passrepparttar 105318 savings torepparttar 105319 franchisees. Furthermore, with franchising expansion seems to come more naturally. Operating a successful franchise may quickly lead to building a second and then a third business, and so on. In fact, some franchisees own all businesses of a particular franchise in an entire geographical area. Fortunes have been built this way.

Relationship Marketing -- Key For Small Local Business

Written by Sharon Fling


Someone wrote me recently and said "I don't think every small business hasrepparttar need nor inclination to send regular follow up emails."

The "no inclination" part I can believe, but no need? Not unless you have allrepparttar 105306 business you can handle. Otherwise you need to collect (opt-in) email addresses at every opportunity, and use them to establish and build relationships with your prospects and customers.

The key word in that sentence? Relationships. If you want to promote your local business effectively online, relationship marketing is key.

WHAT IS RELATIONSHIP MARKETING?

Relationship marketing isrepparttar 105307 act of building close relationships with existing customers and prospects. It's about having an ongoing dialogue with them over a period of time. It can also include gathering customer information and analyzing their behavior, but don't let that scare you. You can practice relationship marketing on a small scale and get plenty of benefits without implementing a full- blown system.

You may not haverepparttar 105308 financial resources of Office Depot or WalMart, but as a small business owner, you can do something they can't -- have real person-to-person relationships with your customers.

There are 2 critical components to making this strategy work: a relationship-oriented website andrepparttar 105309 consistent use of email to stay in touch.

RELATIONSHIP-ORIENTED WEBSITE

The relationship marketing process starts when a visitor arrives on your website. If you wantrepparttar 105310 relationship to progress beyond "hello", make sure it's a wonderful experience. Invite her in, introduce yourself, and offer refreshments inrepparttar 105311 form of free information or something equally enticing.

At this point you should ask for her email address so you can send more valuble information inrepparttar 105312 future. This is crucial to your success - you must obtainrepparttar 105313 email address onrepparttar 105314 first visit. You may not get a second chance.

Once you haverepparttar 105315 email address, point your visitor toward helpful resources. A restaurant could offer recipes or discount coupons. A plumbing business might offer tips for avoiding costly repairs. A small business site could offer a collection of articles. Whateverrepparttar 105316 business, there's some sort of information or gift customers would find useful. Give valuable information freely and don't worry about giving too much away. Give before you get, that's repparttar 105317 way ofrepparttar 105318 web.

Ideally you'd haverepparttar 105319 ability to collect information about individual customers, but not all small businesses can affordrepparttar 105320 technology needed to track individual preferences and provide different experiences based upon them. If you can't, don't worry about it. But do try to collect first name at a minimum so you can personalize emails.

What else characterizes a relationship-oriented website?

- FAQs: Make it easy for people to findrepparttar 105321 information they need by providing online help files. Make a note of questions you're asked repeatedly and compile them into a FAQ (Frequently Asked Questions).

- TWO-WAY DIALOGUE: Make it easy for customers to contact you and encourage them to do so; what you want is a two- way dialogue between you and your customer. When in doubt, ask them what they want. They'll tell you. If you find out what your customer wants and become a friend, you will beat most ofrepparttar 105322 competition hands down. And be human - life is inrepparttar 105323 details.

- TIMELY RESPONSE: When your customer does "raise her hand", reward her with a quick response! There's nothing more de-motivating than an unanswered email to someone who claims to want my business. More than once I've purchased a product and written a followup email, only to have it go unanswered. Guess who won't get another dime of my money?

- FREQUENT UPDATES: If you want people to visit frequently, you must give them a reason -- new content, a fresh look every how and then, information updates. A website is never finished.

- MONEY-BACK GUARANTEE: If you're selling something, you should offer an ironclad "no questions asked" money-back guarantee! Then honor it. Sure, there are jerks out there who will try to rip you off. Consider it a cost of doing business online.

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