Jeremy bought a retail franchise few years ago. The vendor had painted a rosy picture of the benefits (especially monetary) once his business took off. Four years later, Jeremy has yet to see that vision come true.
This is a common scenario. The lucrative dream of investing in a franchise often doesn’t mesh with the reality of the actual business. Why does this happen?
Because a lot of franchisors and franchisees have gotten their marketing strategy all wrong.
Franchisors try to dominate by regulating strict standards and franchisees offer pushback. Franchisees feel that they know their local markets better and want to customize their marketing and selling strategies and this doesn’t go down too well with franchisors.
In 2014, the Franchise business segment is forecast to represent 4.5% of U.S. GDP or $493 billion – up from 3.5% of U.S. GDP or $472 billion in 2013. Coupled with the fact that a new franchise business opens every 8 minutes on every business day in the U.S., it is imperative that this business model gets its act together.
So why do franchisees often see such a poor results? And how can they turn it around?
The answer is an effective Sales Enablement for Franchise marketing.
Check out this infographic by Mindmatrix to understand how the perfect Sales Enablement system can bridge the gap between the franchisor and the franchisee’s marketing efforts.
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