Trade show, a part of marketing strategy has emerged as the most appealing platform for the franchisors to fulfill their aggressive business expansion plans. Read on to make the most of trade shows.
Trade shows offers an excellent opportunity to showcase different brands under one roof. It is a platform for entrepreneurs, traders, existing and established franchisors to display their business concepts for further growth and expansion. Such events facilitate one-on-one discussion with prospective investors and franchise seekers in a relatively shorter span. It gives franchisors and aspiring entrepreneurs an opportunity to build a long –term relationship with each other.
As per Ranjan Gupta, Head Operations, Le Sutra, “Trade shows are great B2B platforms and are very targeted by a company when it is looking at growing the brand presence. It is a great opportunity for the aspirants who are exploring the various ways to get started with their own businesses.” Trade shows are worth the efforts especially for those companies which have recently been through staffing/management changes, mergers, acquisitions, or other business renovation. However, as such shows offer gamut of franchise opportunities, the participants must prepare themselves well in advance to make the most from such trade shows.
Blueprints for trade shows
To start with, the franchisors need to develop a plan of action to take absolute advantage of their participation in the trade show. These include:
Designing the stall/ booth
With the blueprints in hand, the next step for franchisors is to design their stall or booth. Some of the main factors to be considered before designing or purchasing the stall/ booth includes:
Strategic outlook is an important criterion for franchisors to showcase their best deal. As the blueprint would not be of any use if you do not strategically apply and execute it. As Gupta says, “To make the most of a trade show, you need to carefully select the show and bring-in good collaterals to give out to the aspiring entrepreneurs. Besides this, the company can utilise the platform by showcasing and offering the best deals.” So, the strategies are essential as they enable you to:
Significance of trade shows
Trade shows offers a momentous opportunity to enhance your brand and product visibility, franchise business offerings, promote new and existing products, and generate leads and drive incremental sales. As per a spokesperson, Dabur India, “Participation in consumer fairs help generates trials and brings in new consumers into the fold, while business-focused trade fairs is a good way to engage vendors and identify newer franchisees/ suppliers.”
To conclude, Trade shows promote dialogues amongst entrepreneurs, business tycoons, and government representatives and foster a greater understanding for collaboration between practitioners, industrialists and policy makers. Thus, trade shows are a must visit for aspirants wanting to gain a fair share of their business or franchising deals.