Look Out, Overhead: The Advantages of Buying an Online Franchise
When most people think of a franchise business, they automatically think of giant global franchises such as Subway or McDonald’s. These are “brick and mortar” franchises, meaning that the franchisee buys an actual shop or restaurant. But there are also online and home-based franchises such as Blue Coast Savings Consultants (a cost-savings consulting franchise run entirely online) and Cruise Planners / American Express Travel (a home-based cruise / vacation planning business). Internet-based franchises have distinct challenges, but also a range of advantages, which explains why many start-ups and entrepreneurs are becoming online franchisees and buying into the business.
Cost Advantages of an Online Franchise
One of the biggest advantages of an online franchise business is low overhead costs. The expenses of a traditional franchise business include buying commercial space, such as a retail shop or restaurant, and décor, paying building maintenance costs, and managing staff payroll. An online franchise is much cheaper to buy and run – all you really buy is a domain name and website. This means you can spend the rest of your budget on other key areas like marketing, advertising, and web development.
Online Franchises - Open for Business 24/7
Another advantage of an online franchise is that the ‘online shop’ is effectively open all day; revenue can be generated 24 hours a day, seven days a week.Also, an internet-based business is accessible by anyone, anywhere, reaching customers around the globe. Unlike conventional franchises, online businesses aren’t restricted by physical location or traditional hours of operation.
Online Franchises Move Quickly
From the franchisor (home headquarters) perspective, a hugely significant benefit of running an online franchise system is the ability to easily implement changes across the franchise.Instead of re-branding or changing protocol across dozens or even hundreds of physical locations, online franchises can make overhauling changes or tiny tweaks throughout the whole business with minimum effort. For the individual franchisee, this means that the benefits from a great new product idea, clever marketing campaign, or other helpful innovation can spread across the entire franchise system in almost no time.
Running an online franchise offers a business-owner a highly-supported network of franchisees with significantly reduced costs. The low initial investment and other advantages attract new franchisees daily, making online franchises a trend that will continue to grow in popularity.
We'll Leave the Light On For You: Motel 6's Advertising Success
When Motel 6 conceived of the idea for a campaign in the mid-1980s, Bodett worked on NPR’s All Things Considered program. The Richards Group, a Dallas- based advertising agency, was hired by Motel 6 in 1985 and thought Bodett would be an excellent spokesman for the chain because of his warm and friendly vocal style. Hired in 1986, Bodett ad-libbed the line, “We’ll leave the light on for you”while in the recording studio for the first time and the slogan was both an instant and lasting success, staying with the chain for over 25 years and counting.
Best Practices in Protecting and Enforcing Trademarks, Copyrights and other IP
Trademarks, copyrighted works, trade secrets and proprietary business information form the core of any franchise system, and are frequently a company’s most valuable assets. Trademarks, including service marks, logos, slogans and trade dress, define the brand identity as presented to the public. The “behind the scenes” business know-how on which the system is built and implemented by franchisees is embodied in a variety of copyrighted and proprietary works – operations manuals, proprietary processes, recipes and formulas, custom software, advertising copy to name a few.
FlipFlop Dogs: Why We Started the Veteran Franchise Giveaway
veteran, as a small token of our appreciation and gratitude for all they have done for our country.