Tag Archives: franchise industry

New census report shows that franchising offers stability to business owners and takes steps towards stabilizing the economy

Solidifying the importance of franchises to our nation’s economy, the US Census Bureau recently published the first- ever Economic Census Franchise Report, a collection of data specific to the franchise industry. Over the span of 3 years, having started collecting data back in 2007, the Census reports that 10.5 percent of our nation’s businesses are, in fact, franchises. Also to their credit, franchises account for nearly $1.3 trillion of sales and 8 million jobs nationwide.

imagesIn our current unpredictable economic climate, becoming a franchise owner offers entrepreneurs the freedom of owning their own business, while receiving security and support from an established brand. For one of Wireless Zone’s newest franchisee owners, making the switch from sole proprietorship to franchisee owner was just that. Having owned his own wireless store for 20 years, he made the decision to become a Wireless Zone franchisee, for the “credibility and stability that the brand offered.”

And for corporate brands, the findings give a renewed sense of optimism for continued growth. As word spreads about the profitable performance of franchises, companies can expect a rise in qualified leads from entrepreneurs interested in making the leap to franchise ownership. Brands like Lawn Doctor, a 40+ year veteran to the franchise industry, and Guier Fence, the first ever fence franchise launched in early 2009, have already seen a number of “mom ’n’ pop” businesses entrust in their brand name and their established business model. Both companies foresee the trend continuing and are excited to expand into new markets, creating new jobs and helping to boost the overall economy.

From corporate brands to eager entrepreneurs to the thousands of out-of-work employees, the Economic Census Franchise Report renews optimism for a stable economy. In the coming years it will be exciting to watch franchised businesses continue to increase in popularity, grow to multiple locations in non-traditional markets and be an integral force in returning our economy to what it once was.

DL3BcA Blog Post By: Megan Kearney (@megankearney)
Megan is the newest member of the No Limit PR team and is still getting used to showering in the morning as she worked from home for three years before joining the Buzz Squad.

Social Media Provides Alternative Budgeting Options

With 99 percent of the business community struggling to stay afloat during this trying economic time, innovative concepts are turning toward alternative measures to driving business, and franchise concepts are looking elsewhere for lead and consumer generation tactics.

Two years ago, the franchise portals were booming with business. Gator sold for millions; which prompted many copycat portals to pop up – all claiming to have more strength and features than the powerhouse. Franchisors bought on. They allocated budgets toward these fancy portal sites, hoping it would result in a steady flow of leads – qualified or not. Unfortunately as time progressed, what started as 100 concepts turned into 1000, and suddenly the leads began drying up.

Franchisors didn’t know what to do. Thankfully the online crash held off for these portals, but now, they are sinking just like everyone else who doesn’t have a sustainable model.

Where did franchisors go?

For years, public relations has been a sufficient way to drive leads by encouraging the media to feature great stories from great brands. These traditional forms of lead generation are still valuable, however, far too often PR firms leave their clients way short on providing communication ambassador quality services.

Franchisors also used to invest big bucks into Intranet sites – creating what ultimately become a Social Network for their franchisees. Now, though, those exciting sites of the past don’t come as technologically advanced as some of the free venues out there.

Times are changing, and now franchisors can utilize the World Wide Web, again, to drive leads, manage their systems, promote their brand, market their brand, and do about 100, well a million other neat tactics.

My clients are on board – big and small brands alike.

The cost? Far cheaper than allocating funds in 100 different directions.

Franchisors are looking to shave budgets. I have the solutions. If you have read my blog, then you should be able to generate some cash saving tips yourself. If not, I have an open door policy. I don’t need your business to be your friend.

Business owners are laying off portions of their staff – using the economy to clean up their house. But this shouldn’t be limited to just employees, this should extend to vendors. Make sure your budgets are being spent in the smartest places. This will create longer life, and prosperous results.