Introducing “Virtual Franchise Events”

Virtual Franchise Events, Inc. is a joint venture of Strategic Growth Concepts and franchisEssentials. The mission of this organization is to utilize the latest technology to assist the franchise industry in achieving growth.  This is accomplished thru the implementation of:

• Virtual Franchise Fairs
• Virtual trade shows for individual franchise organizations
• Virtual franchisee training programs
• Virtual franchisee recruitment seminars
• Franchisor executive presentations to the franchise network
• Franchise product development sessions

Virtual events are conducted entirely online with event organizers, presenters, sponsors, exhibitors, and attendees exchanging information and networking from the convenience of their computers.  These events look and feel remarkably similar to their in-person counterparts while delivering the same knowledge-sharing and personal interactions at a significantly reduced cost and requiring less investment of time and staff resources.

An additional benefit of virtual events for the sponsors and exhibitors is the rich marketing data that they deliver – far more than can be obtained at their in-person counterparts.  The anonymity of attendees roaming the in-person event evaporates; instead, sponsors and exhibitors receive detailed marketing data about attendees, much better than any other marketing vehicle available today.  Further, many virtual event organizers see many more C-level executives than at a physical show because attending a virtual event requires less of a time commitment on their part.

For event attendees, it’s much easier to gather information without having to deal with someone hovering to obtain their business card.  In fact, studies show that attendees are more apt to interact with an exhibitor, speaker or another event attendees online than in-person.  New technologies, including the most business-applicable elements of Web 2.0 and social networking, make it extremely easy for professional networking to occur in virtual events.

Click HERE to download a Virtual Events Fact Sheet.

Click HERE for Virtual Event case studies and industry information.

Soon To Be Announced:

A schedule of national and international virtual franchise industry events. Check back soon for more information.

If your firm would like to learn about the benefits of sponsorship for any of these upcoming events, CLICK HERE for information about the variety of sponsorship opportunities available.

What is Integrated Franchise Marketing?

Integrated Franchise Marketing (IFM) is a term we use at franchisEssentials to describe a comprehensive approach to achieving multiple goals and objectives within startup, emerging and mature franchise organizations. IFM directs its focus on creating or improving brand awareness for the franchise organization at local, regional and national levels, driving revenue for franchisees, and generating genuine interest in the franchise concept itself.

The key to IFM is the development of a comprehensive marketing strategy that benefits the entire franchise organization, and is line with the goals and objectives of all parties to the franchise agreement. It includes coordination at all levels to deliver concise, consistent messages that ultimately ensures positive results at franchisee and franchisor levels including:

Franchisee Level

* Local brand awareness
* Increased sales
* Improved communications with corporate office
* Improved communications with fellow franchisees
* Improved profitability
* Increased business value

Franchisor Level

* Regional & National brand awareness
* Increased royalty revenue
* Improved communications with franchisees
* Improved franchisee validation
* Increased interest in franchise concept
* Improved profitability

IFM works within traditional marketing methods and processes through and in conjunction with a very wide spectrum of non-traditional marketing and today’s unique, innovative tools and technology including the many aspects of social media. In addition, IFM encourages a cohesive, team effort at all levels of the franchise organization through information sharing and process awareness, enhanced by a solid educational approach.

As the new year is right around the corner and many franchise organizations fell short in achieving its goals and objectives for 2009, there’s no time like the present to develop a plan of action that will benefit the entire franchise organization.

For more information about utilizing Integrated Franchise Marketing (IFM) within your franchise organization please contact me by email at segreto.paul@gmail.com.

Franchising vs Licensing: The Debate Continues

Well, every so often the debate on Franchising vs Licensing continues. Today, I noticed another discussion on LinkedIn about the subject so I’ve decided to post the responses on this site and look forward to all additional comments and insight.

Franchising vs Licensing (as posted on LinkedIn 12/5/09)

“I have a client with a service-based business that was exploring franchising. Upon further research, he has decided to set up licensing arrangements instead. Based on what he told me, it seems like licensing is a much simpler way to expand his business. I am looking for both advice and experience sharing. I would also like to know where I can view a sample/boilerplate licensing agreement. Thank you.”

Here are a few of the responses…

Response: “A franchise is of course a license and a license is a franchise if it meets the definition of a franchise.

If a licensor sets out to offer a license that 1) allows the licensee to use the licensor’s brand name, 2) charges fees or royalties greater than $500 in the first six months and 3) has significant control or assistance over the licensee’s business activities/operations/marketing then that license is a franchise.

The fact is that when all three legs of the franchise definition are met the license is a franchise. You can try to call a franchise a license if you want, but this would be a perilous and reckless path to take.

Additionally, you can search all manner of Franchise Disclosure Documents (FDDs) which contain franchise agreements [online at California Electronic Access to Securities & Franchise Information].”

To this response, the individual that originally posted the discussion responded: “I was told by multiple sources that there is a difference.”

Response: “You are correct there is a difference between a license and franchise, however it is not a choice. It is determined by definition.

In other words, if you are going to license [your company] to a licensee, charge them an upfront fee and an ongoing royalty and direct them to use your system of services/marketing/operations then the license is a franchise.

If your license is by definition a franchise and you choose to ignore this fact then you are running a huge risk and the consequences in financial terms will make franchise compliance look cheap in comparison.”

I chimed in with a recommendation: “I highly recommend you read [an informative report] about the differences between franchising and licensing [by Rochelle B. Spandorf].”

I am sure the debate will continue as more and more individuals look for the easy and cheap way out. The long and the short of it is, “If it looks like a pig, and it smells like a pig, and it tastes like a pig… then it is a pig!” And, let’s keep one thing in mind – ignorance is not a defense in a court of law!

Google results: Franchising vs Licensing

Franchise Facts for Canada

As I continue to work with franchise organizations north of the border, I’m excited by the facts about franchising in Canada.

-The Franchise industry in Canada represents over $100 billion in sales annually
-Franchised businesses account for 40% of all retail sales
-There are over 78,000 franchises across Canada
-Canadian Franchise Association membership grows at a rate of 10% per year
-Franchising directly employs over 1,000,000 people
-Every year, thousands of Canadians are improving their lives by becoming franchisees
-Franchising accounts for $90 billion per year in sales nationally or 10% of Canada’s Gross Domestic Product (GDP)
-Franchising has been reported to account for one out of every five consumer dollars spent in Canada in goods and services

About the Canadian Franchise Association

With almost 500 corporate members nation-wide, representing many of Canada’s best-known brands, the Canadian Franchise Association is the national voice for Canadian franchising and works with all levels of government to ensure the development of industry-made solutions. The CFA promotes ethical franchising and educates Canadians about franchising, specific franchise opportunities and proper due diligence through its many events, programs and publications.

Source: Canadian Franchise Association

“Franchise Today” on BlogTalkRadio – Podcasts Now Available On-Demand

Joel Libava, aka The Franchise King, and I, continue to generate excitement each week on what has been dubbed, “The Bagel and Pasta Franchise Hour.” Plans to officially rename the show have been finalized, and both Joel and I are proud to announce the new name, Franchise Today.

As most franchise professionals are aware, Joel and I both have extensive experience within the franchise industry and frequently write about different aspects of franchising on our respective blogs, The Franchise King Blog and franchisEssentials.

Each week, we focus on the world of franchising, franchise blogs, news and events. In addition, we explore new and unique franchise opportunities, and routinely discuss items of interest to franchisors and franchisees alike including social media, traditional marketing, lead generation and more. With similar philosophies, and direct approach, along with complementing bits of sarcasm and humor, the show is an exciting experience every week. See what The Franchise King has to say!

The show airs LIVE every Thursday at 1 PM CST / 2 PM EST.

Podcasts Now Available On-Demand