Lesson 6 Flashcards
What is Franchise Marketing?
The promotion of franchise business to increase awareness, attract new clients, and drive revenues to a franchise location.
Franchise marketing involves both franchisors and franchisees in promotional activities.
What are the two types of marketing used for franchises?
- Operational marketing
- Development marketing
Operational marketing focuses on day-to-day execution, while development marketing promotes related initiatives.
What is the focus of Operational Franchise Marketing?
Acquiring and retaining customers at individual franchise locations.
This includes strategies like SEO, social media, and email marketing.
What is the aim of Franchise Development Marketing?
To attract potential franchisees and expand the franchise network.
Why is effective franchise marketing crucial?
- Brand Consistency
- Customer Acquisition
- Franchise Development
These elements are essential for building trust, driving sales, and attracting new franchisees.
What should a franchise’s marketing plan include?
A variety of strategies to promote the franchise and help it grow.
What are key components of a Franchise Marketing Plan?
- Define Your Target Audience
- Establish Strong Brand Identity
- Prioritize Marketing Channels
- Develop a Content Strategy
- Track and Measure Results
These components help ensure effective marketing execution.
What demographics should be analyzed for target audience identification?
- Age
- Race
- Sex
- Income level
- Education
- Geographic location
Demographics provide essential data for targeting marketing efforts.
What are psychographics?
The study and classification of people according to their attitudes, aspirations, values, interests, and lifestyle.
Fill in the blank: A franchise’s _______ outlines its visual identity, messaging, and tone of voice.
[brand style guide]
What is a Franchise Disclosure Document (FDD)?
A legally required document that provides potential franchisees with comprehensive information about the franchisor and their business model.
What does the FDD cover?
- Financial Performance
- Business Operations
- Legal and Regulatory Compliance
It helps potential franchisees make informed decisions.
What is the first step in developing a franchise sales plan?
Target Market Analysis.
What are effective lead generation strategies for franchise sales?
- Advertising
- Trade Shows
- Referral Programs
- Website Optimization
- Content Marketing
These strategies help build a pipeline of potential franchisees.
What does the sales process for closing a franchise deal typically include?
- Initial Contact
- Presentation
- Discovery Days
- Negotiation
- Due Diligence
- Closing
Each step is critical in guiding potential franchisees through the decision-making process.
