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Branding Strategies Using the Franchise Model
Submitted: 2007-01-17 15:28:39
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Franchising is one of the easiest ways to increase brand name recognition. A strong brand name will absolutely help the success of the franchising company including both the franchisor and the franchised outlets or franchisees. Brands and franchising are nearly synonymous and often companies that are not franchises or do not use a franchising structure are still called franchises. In fact Warren Buffett also often calls companies with strong brand names; franchises. This is very common in the world of Wall Street.
Strong branding strategies using the franchise model include a multiple use of public relations, advertising and community goodwill efforts. When a customer comes into a franchised outlet and is satisfied with a product or service this increases the brand name for the franchisor who then continues to franchise the brand name to other franchisees in other markets.
Each time a new member is added, the franchise brand name has a chance to increase its value. As long as the new franchisee is following the system and has similar quality control and standards the franchise brand will be boosted.
However, if a franchised outlet degrades the franchise mark or brand name then he can hurt the entire company. This is why franchise branding strategies are so important. Perhaps you might consider all this in 2006.
Lance Winslow, a retired entrepreneur, adventurer, modern day philospher and perpetual tourist |
Article source: Expert Articles
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