How Creative Initiatives Can Fuel Growth

Through challenging economic times, franchisors have developed new ways to fuel growth and development in their business. When it comes to finding qualified, well-funded prospects for franchising, usually portals, franchise consultants, and advertising & networking all are strong factors in growing a franchise. Lead-generation sites, like Franchise Clique, play a huge role in connecting qualified clients to franchisors and consultants. Beyond these necessary tactics, franchisors are branching out further, and bringing creative ideas to development.

From the patterns I’ve observed, this is happening in several ways. Parent companies of franchising brands are now taking new approaches to their stores – in locations that offer opportunities for food-court style eating, such as hospitals, malls, and airports where normally one brand would be placed in a store, developers are bringing three or four of their brands to the same location. Both dual-brand storefronts and co-branded store partnerships are certainly on the rise in the franchising market. Providing two goods or services in one location offers customers more of a variety, and targets a wider range of customers altogether.

In addition to multi-brand locations, I continue to see a growth in social enterprise within the franchise industry. Non-profit organizations such as Affordable Homes of South Texas, Inc., Dale Rogers Training Center, and the National Christian Foundation are all teaming up with major franchises like Great Clips, Papa Murphy’s, and Blimpie, bringing franchisee profits straight to these organizations.

These partnerships are doing well because they solve fundamental issues that both franchisors and non-profits face. On one hand, franchisors benefit because they are launching a new location, which is owned and managed by a non-profit group that possesses strong and favorable community reputation, while on the other,  the non-profit benefits because it is buying into proven concepts and corporate office teams who are invested in their success. It truly is a win-win.

What are other ways you have seen franchisors creatively fuel growth? Leave your comments below!

Virtual Expo Asks the Tough Question: Is Business Ownership Right for You?

North America’s Leading Career and Franchise Business Coaching Company, The Entrepreneur’s Source®, Fuels Dreams of Business Ownership with “Start a Business Weekend” Virtual Franchise Expo July 25-27

The nation’s leading career and franchise business coaching network, The Entrepreneur’s Source® is hosting its virtual Start a Business Weekend® expo July 25-27, 2013 from 10 a.m. to 7 p.m. EDT. The virtual expo offers current and aspiring entrepreneurs the opportunity to explore business opportunities and gain advice from experts – all from the comfort of their home or office.

The Start a Business Weekend expo allows attendees to “walk” into a digital Exhibit Hall and visit the booths of more than 90 of the nation’s hottest franchise concepts. Participants can chat live with representatives about a variety of different franchise brands, learn how to finance their new business, attend keynote presentations, and download informational resources. Business coaches from The Entrepreneur’s Source will be available to help would-be entrepreneurs determine if business ownership is right for them. After attending a Start a Business Weekend expo, 95 percent of participants end up discovering options they admittedly would have never looked at on their own or would have previously dismissed.

 

“Many people would love to start their own business, especially with the job market moving towards part-time work. The problem is, many people don’t know where to start or are unsure of the skills needed to run a business,” said Brian Miller, COO of The Entrepreneur’s Source. “Our free Start a Business Weekend expo asks the hard hitting question: is business ownership right for you? By the end of the three day event, participants will have that question answered and the tools and guidance necessary to start their entrepreneurial journey.”

 

The Entrepreneur’s Source has more than 30 years of experience in helping make franchisors and their franchisees more profitable. With more than 230 offices in the United States, Canada and the UK, the company presents prospective franchisees with new business opportunities that complement their goals, needs and expectations, while delivering franchisors the right individuals to grow their concepts. Additionally, the company also offers business-coaching services to help franchisees advance, improve efficiency and increase the return on the investment made on their franchise business.

 

Registration for the SABW Expo is currently open, with no registration fee, at www.StartABusinessWeekend.com. For more information about The Entrepreneur’s Source and business coaching support, visit http://www.entrepreneurssource.com/.

 

About The Entrepreneur’s Source
The Entrepreneur’s Source is North America’s leading career and franchise Business Coaching Company dedicated to the entrepreneur, with more than 230 offices in the United States, Canada, and the UK. Dominating the $1.5 billion dollar Business Coaching/Consulting franchise market in North America, the company offers a full range of services to individuals seeking alternate career options and to franchise businesses looking to increase performance. For more information about The Entrepreneur’s Source, please visit http://www.EntrepreneursSource.com/

 

The Entrepreneur’s Source and Start a Business Weekend are trademarks of TES Franchising, LLC.  All rights reserved.