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Chapter 5: The Franchising Market Process

Franchising requires careful strategic planning. According to an expert, franchisors must understand how they will support franchisees, communicate with franchisees, anticipate financial results, and market the franchise system. They must also carefully craft their business image, with a distinctive and appealing design, colors, graphics, and logos to attract franchisees and customers.

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Rosalie Rosales
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329 views5 pages

Chapter 5: The Franchising Market Process

Franchising requires careful strategic planning. According to an expert, franchisors must understand how they will support franchisees, communicate with franchisees, anticipate financial results, and market the franchise system. They must also carefully craft their business image, with a distinctive and appealing design, colors, graphics, and logos to attract franchisees and customers.

Uploaded by

Rosalie Rosales
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPTX, PDF, TXT or read online on Scribd
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CHAPTER 5: The

Franchising Market
Process
INTRODUCTION

 The most notable characteristic of a


franchising is the intent to increase the
revenue by creating new business units. In
a practical sense, though, the most
fundamental element of franchising
involves marketing.
Marketing

 Marketing involves everything that it takes to get


a product or service into the buyers hands,
successful marketing requires careful thought and
an action plan. The franchisor must be certain to
get the right product or service to the right
customer at the right price and at the right time.
STRATEGIC PLANNING IN FRANCHISING

According to Kenneth Franklin of the Franchising Law Group of Piper,


Marbury, Romnick and Wolfe, a firm that decides to enter the franchising
must have a clear understanding of 4 essential factors:
 1. How it will support the franchise system’s operation
 2. How it will foster communications with franchisees
 3. What financial results the firm and its franchisees can anticipate
 4. How it will market its franchise once the franchise program is in
place.
BUSINESS IMAGE

 The business image is the image that the


franchisor “packages” for public consumption. It
is the key attraction for potential franchisees and
customers to the franchise system’s products and
services. The image sought must be distinctive
appealing and have appropriate colors, graphics,
logo, trademarks, interior and exterior designs
and colors to protect the image sought by the
franchise system

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