In light of recent discussions at the recent International Franchise Association Convention about “new” ways of generating franchise candidate leads, and as I continue to field an influx of questions from start up and emerging franchisors trying to find a “silver bullet” to jump-start franchise sales, I am again sharing the following article I wrote back in 2011 as the principles continue to apply to this day. Actually, they may apply even more today as more and more have adopted social networking platforms as major sources of securing information and for communicating.
Considering the linking capabilities within social media, often to the point of creating a cross-platform, multi-tiered effect, some so-called, self-professed industry professionals apparently believe they can get away with improper FPRs. Especially, as social media is still “relatively new” and growing into new areas, misunderstood by many, and virtually under the radar of most authorities. It appears the thought is if enforcement of franchise disclosure is lacking in traditional areas, social media has become the new wild west!
It’s all about controlled growth and the founder exhibiting tremendous restraint in expanding too fast and in areas far away from his core group and subsequent hubs to be able to provide ample support, create ad cooperatives and build the brand geographically. Chances of franchise success are far greater at all levels of the franchise organization within the parameters of a controlled plan of development.
This question was discussed on Linkedin approximately a year and a half ago, and the following is a comment from a franchise professional that I believe raises some very important additional questions about transitioning executives as franchisees.
Maybe we could ask the question another way. How have franchisors succeeded when they awarded franchises to transitioning executives? . . . Puts a little different emphasis on it.
Running a successful social media strategy isn’t as easy as many small business owners think it will be. Your company’s online success depends on several factors, and if you don’t account for all of them, you could find yourself stuck in the social media wastelands. That’s not something many business owners like to hear, but the good news is that getting out of the Internet desert is simply a matter of redirecting your efforts. While thousands of businesses struggle to establish a presence online, they all tend to have trouble with the same issues.