When it comes to getting the most powerful marketing results for your advertising dollar, franchises have a distinct advantage over individual businesses. Franchises benefit in a number of ways, from increased name recognition and greater buying power to local business directories that offer tools for franchisers and savings for website development and maintenance.
Franchise Marketing Benefit 1: Increased Name Recognition
If a business has multiple locations within a particular market, customers are more likely to recognize it. Research shows that consumers tend to favor a name brand they recognize, so long as they have had a positive experience with the brand. If franchisees maintain the same quality across locations, each will benefit from an aggregated reputation. Additionally, search engine algorithms are more likely to give franchises prominent positioning in local searches because of this name recognition.
Franchise Marketing Benefit 2: Greater Buying Power
Just as franchises are able to save substantially by buying products and supplies in bulk, they can also demand much more favorable rates on advertising in local and national markets through sheer bulk buying power. While most local individual businesses would never dream of conducting certain types of marketing campaigns, a franchise is able to combine the marketing budget of all of its franchisees in order to market the brand, bringing in new customers for all of the businesses across the board. This pooled marketing budget provides much more effective advertising than each individual business could possibly afford on its own.
Franchise Marketing Benefits 3: Helpful Multiple Listing Tools
Many local directories such as Google+, Yelp, Yahoo Local, Bing Local, and YP.com offer multiple listing tools or franchise support, so that a franchise owner can list all of his or her franchise locations quickly and easily, without having to spend time creating a separate listing for each business. With the large number of directories and local listing sites available on the web, many business owners find it overwhelming to create and maintain so many listings and social media pages.
Franchise Marketing Benefits 4: Website Development and Maintenance Savings
Franchises are also at a convenience when it comes to paying for website development and maintaining it. When creating a company website, a best practice for franchises is to develop one main page for the overall business (containing all of the content, menus, product descriptions, etc.). Each franchisee then gets their own subpage, accessible through a “locations” feature. Franchisees can modify their own pages to an extent allowed by the franchise owner, and they can even run their own local specials. This practice packs a powerful punch when it comes to search engine algorithms, hence benefits local SEO, and offers tremendous savings over each business having to pay for creation and hosting of their own individual site.
When deciding whether to open an individual business or buy into a franchise, a franchising opportunity offers a great many benefits which should not be discounted, and one of the most important ones to consider is the tremendous marketing advantage.