How to Evaluate a Franchise Opportunity
When it comes to evaluating a franchising, you'll be advised to look at different figures like start-up costs, ROI, turnover, projected sales etc
. These figures are going to tell you how well a franchise has been performing in the past but what you really need to know is how well the company markets and promotes its product.The question you need to ask yourself is; Have you ever heard of the product? Have you ever tried it yourself? Have you seen their ads on TV and were you compelled to buy it? Start with being the customer yourself and analyze how frequently you would use the product.
Talk to franchisees; ask them how holiday sales go, how many peak seasons there are and what kind of campaigns are run on a corporate level. Ask them how effective these campaigns have been. Some franchises may start campaigns that actually cut in to profits like buy one get one free deals. You need to know what kinds of promos have been running.
Investigate the marketing activities yourself. Go to where you'd normally go to buy a product and see if they have an ad there, it can be online, in your favorite magazine or some other place. Many franchise opportunities in USA charge a small amount for advertising and marketing expenses and you should know what you'll be getting for your money.
Sound business franchise opportunities not only have a solid marketing plan but they're likely to own trademarks and copyrights to their products. Fresh fruit arrangements and fruit bouquets are an excellent franchise opportunity that run regular marketing campaigns and are an established brand.
How to Evaluate a Franchise Opportunity
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