Everything calls for a change and up-gradation, and even well established businesses are not distinct to it. Any business strategy, no matter how successful it is needs renovation and a revamp. Business owners including franchisors are always on the look
Having the same food everyday can make any person disinterested in the dish, however delicious it was initially. Similarly a business which does not upgrade or innovate itself would gradually see its downfall. Every business needs to re-define its policies, structure etc from time to time in order to retain its position in the market. Increasing popularity of franchising, has led to the emergence of new and unique franchise opportunities. A brand which aims to do well and maintain its position needs to plan new strategies to remain ahead of competitors. Therefore have a look at the various techniques that franchisors can make use of to make their franchise systems evergreen.
Bring freshness via innovative techniques
A unique business which had started successfully would surely loose out its freshness after a few years. Every concept reaches a saturation point, no matter how unique and fresh it was initially. In the same way a franchise opportunity also looses uniqueness after some period of time, thus compelling franchisors to bring in more innovative ideas to retain the uniqueness of the brand. Here are the different ways to revitalise a franchise concept:
Re-do the logo or punch line: Re-branding by making changes in the logo or punch line can surely revitalise the brand for getting better sales and walk-ins. Recently Baskin Robbins had rebranded itself via making changes in its old logo. New eye-catching logos can surely attract customers to the brand.
Introduce new products/services: Franchisors can attain new clients as well as maintain their old customers by introducing newer products and services in their outlets. Old clients and customers get attracted to it easily and lay their trust on any new services or products being launched by their old brand. As shared by Shahnaz Husain, Chairperson and MD, Shahnaz Husain Group: “We as a franchisor have been introducing highly innovative products and clinical treatments from time to time. That has helped to make our business a dynamic one.”
Modernise the outlet: Customers and clients prefer to visit an outlets, which have been re-designed or re-furnished with modern appliances and techniques. Take a case of a branded beauty salon or a restaurant, which has developed a good client base. A change in interiors with better furniture and upholstery will add to its client traffic. Moreover, it can also attract new clients.
Put up sales and striking offers: Sales are a great way to spice up and increase the sales of any brand. Similarly any brand can lead to better sales by launching attractive offers to increase customer flow. Free gifts, games etc are few ways which can make the franchise business fresher and add to its revenue.
New advertising and marketing strategy: Advertisements on TV are one of the most informative ways to know of any brand. Therefore a new and eye catching advertisement can surely add newness to any old business. Husain says: “The marketing strategy makes a very big difference in setting your enterprise apart from others.”
Innovate the training model: Franchisor can sometimes re-define his training and support module. It is well-known that franchisees can contribute a lot in the success of any franchise brand. It is the franchisor’s duty to update them with latest technique and support. Franchisees can also come up with unique ideas to innovate the old franchise system if they are properly trained. Franchisors need to arrange for latest ways to educate them. He can organise web-seminars, on-line meetings etc with franchise experts from the concerned field.
To end, it can be simply said that an old product in a new package will surely attract many eyes to it. Likewise an old brand can renovate itself from time to time for getting better results as in this stiff competitive market, updating a franchise business with unique marketing strategies will help retain its position for long.