Prospective Franchisees... Where are they Hiding?

At this week’s IFA Convention in San Diego, one hot topic will certainly be about selling franchises in a down economy. As soon as I hear anyone serving up “selling" advice, I’m on my way to a different session. “Sorry, you have it all wrong.”

Even in this economy, I am still not "selling," just continuing to meet those people who might be right for our concept – based on referrals from friends, existing clients, affiliates and alliance partners. As I have said in the past, networking and developing relationships has proven to be much more effective than selling.

Normalcy, whatever that was, must be thrown out the window in these trying economic times. I can’t rely on “typical” marketing measures to grow RetroTax, Instead, I rely on viral and guerrilla marketing at every level. I don’t use mass media, to speak of, but rather, spread the word one mouthpiece at a time, or via press opportunities as they present themselves.

Franchisors should ABSOLUTELY look outside the box in marketing their concepts in the immediate future. (at least for the duration of 2009 and quite likely beyond) Always know where you are and how to act accordingly. There may have once been a time when just being in the right place at the right time was enough to insure success. Those days, if they "ever" existed, are long gone. Now, you not only need to be in the right place at the right time, but you’ve got to also be aware that you’re there. Then, you’ve got to know what to do about it and have the wherewithal to respond accordingly.

The landscape has changed and along with it, the rules of engagement. Understanding such will help you succeed in these challenging times.

For Further Education, Franchisors Should Follow the Media

Throughout my career in franchising, I have become a dedicated news junkie, especially when it comes to news that pertains to franchising. In many ways, this has contributed to my continuing education. By reading and absorbing news, I have been able to generate new ideas for conducting better business as well as assisting with the development of better methods and best practices for growing the concepts I have represented.

Both newbies and established franchisors should never turn their heads away from the opportunity to absorb more education. For franchising information, I read several online resources through LinkedIn, as well as other Web-based industry standards like Franchise Times, IFA Smart Brief, Franchising.com and Bison. Additionally, for news AND commentary, I check in pretty frequently with sites like Franchise Chat and Blue Mau Mau.

Personal media outlets also get my mind rolling. My all-time, overall favorite media portal has for years been The Drudge Report. Even though Matt Drudge has become more mainstream in more recent years, he is still cutting edge in terms of breaking news “long” before most mainstream outlets even get a sniff of the stories he sheds light on.

My wake-up call in the morning is syndicated radio bad boy, Don Imus. (IMUS in the Morning…check for local station listings at WABC Radio. I am mostly a talk-radio and TV junkie with an ear toward Boortz, Hannity, Limbaugh, O’Reilly, and Dr. Bill Bennett and of course, Imus. From the other side of the aisle, I tune in regularly to Chris Matthews, Keith Olbermann and even Rachel Maddow, for the other side of the coin. For some lighter entertainment, I’ll catch occasional podcasts of George Noory’s Coast-to-Coast AM to hear what the “conspiracy theorists” are espousing as the “plot of the day.” Don’t just listen to what you agree with. You will learn a good bit more by listening to ALL points of view, not just the one that you may embrace.

My point in presenting you with my daily media routine is to encourage you to follow the media. Become ingrained in it, as the media can get your creative mind flowing with ideas for growing your franchise. For new franchisors, the IFA Smart Brief and Insider, Franchising.com, and Franchise Chat are great tools for daily chatter. For more in-depth resource news and tools, look at Franchise Times, Franchising World and Franchise Update. All three are must reads for me.

Are You in Atlanta? The ATLFA Wants You!

For those of you not familiar with our franchise group, The Atlanta Franchise Alliance is a networking group that I Chair in Atlanta. Our mission locally, is to follow the IFA's model of bringing franchising’s best practices and people together. We meet several times a year to network, learn, share fellowship, and exchange valuable nuggets that help us each individually and collectively, to strengthen the business model that is franchising. Whether you are a franchisor, a franchisee or a supplier, you are more than welcome to attend any of our events.

In 2008 our Alliance grew significantly and in 2009, we are going to get bigger and better. We will grow by bringing in more people to our networking events and providing them with everything that they came looking for and more. We will host networking events on the following dates, so mark your calendars: January 15; May 21 (also an IFA franchise political action committee fundraiser); August 20; and November 12. Locations for these meetings are TBD and will be posted on our Web site, at least two weeks in advance of each event (http://www.atlantafranchisealliance.com/).

Anyone interested in attending these meetings can find more information at our site. Don’t hesitate to email me (http://www.blogger.com/stan.friedman@retrotax.com) either, if you have questions or would like to be added to our mailing list.