Step 4: Determining whether You Should Franchise Your Business
Determining whether You Should Franchise Your Business?
What is your value proposition and what makes you stand out from your competition and what makes you unique to the consumer? Your prospective franchisees will want to see something that makes your product or service pop and stand out so they won’t be just another pizza shop or another tax preparation franchise.
Your branding, marketing presentation and product line should offer something that is exciting and different and will be compelling to a prospective franchise buyer.
4. Your business needs to stand out from its competition. The product or service offered needs to have an edge that makes it somehow better than the competition and it should be offered in a unique way. What makes your business special?
The Lost Cajun is a great example of this requirement. The Lost Cajun is one of our clients and has a unique food operation. The business model is a full service authentic Cajun food franchise. The company is bringing traditional Cajun food, service, and atmosphere to the masses in a way that has never been done before. This makes their product memorable and gives customers a reason to choose them over their competition.
Franchise Marketing Systems