Thinking Big? Don't Overlook Small Communities for Expansion

When designing expansion plans for their systems, most franchisors automatically "think big," equating big cities to big-budget spending and big advertising campaigns. Instead of focusing on larger cities for leads being fought over by multiple franchises, many franchisors have found great...

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Bibliographic Details
Published in:Franchising World 2008-06, Vol.40 (6), p.88
Main Author: Tanner, Greg
Format: Article
Language:English
Subjects:
Advertising
Brand loyalty
Business growth
Costs
Customers
Franchisees
Franchises
Franchising
Guidelines
Marketing
Strategic planning
Online Access:Get full text
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Summary:When designing expansion plans for their systems, most franchisors automatically "think big," equating big cities to big-budget spending and big advertising campaigns. Instead of focusing on larger cities for leads being fought over by multiple franchises, many franchisors have found great success by researching and identifying smaller communities across the nation in which their franchise concepts would thrive. After deciding to expand into smaller markets across the country, the real work begins. The following tips offer guidance on what a franchise organization might do when trying to gather information and collect due diligence in scouting new a market: 1. List the potentials. 2. Scope out the franchising scene. 3. Walk the streets. 4. Tap your peers. After doing their homework to identify small markets where franchise concepts can prosper, the next obvious step is to seek out the right franchisees.
ISSN:1041-7311