Mark Siebert wrote a great story for Entrepreneur Magazine about making your franchise stand out. Among the useful tips he shares for franchisors seeking to make their business rise above their competition include:
• Find Your Small Pond – This is useful advice. Understand that most people seeking a business want a business that will represent their skill base. A person who likes books is more likely to buy a book selling franchise than an automotive shop. Find your niche and stick with it.
• The 4 Sales You Must Make – Invaluable to understand if you expect to sell your franchise. Every potential franchisee ask themselves these four questions:
1. Should I go into business for myself?
2. Should I go into the widget business?
3. Should I go it alone or buy a franchise?
4. Should I buy your widget franchise?
Can you answer them?
• Be Unique – No business will ever survive without being unique. How do you stand out? What makes your franchise different?
• More Than One Way – There is no one way to succeed at franchising. You’ve got to find yourway.
If you are looking to franchise your business you need to make your business stand out. I would also add this tip to those four:
• Write A Franchisee Profile – Who is your ideal franchisee? Make a list of attributes and interests that franchisee might have. For instance, is it a middle-aged woman between the ages of 35 and 50? Is it a young single millionaire with additional investment income laying around? Know who your target is and make everything you do reach for that target.
These tips should help you get the ball rolling.
Source: http://www.stumbleupon.com/su/9quazQ/www.redhotfranchises.com/franchiseopportunities/franchise-tips/franchise-tip-make-your-franchise-stand-out/12/18/2007/
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