The Kardashians: Marketing Lessons for Every Business Owner
The Kardashians may not have any meaningful significance, but it's tough to deny their commercial relevance. The family is a well-oiled marketing machine: when you consider their four television shows, chain of clothing stores, book deals, and fragrances – to say nothing of endorsement deals for everything from pistachio nuts to sneakers, and a wedding worth $17.9 million for broadcast rights alone – the Kardashians can justifiably call themselves a lifestyle brand. As much as we hate to admit it, business owners can learn some marketing tips from the Kardashians. A few key lessons:
Accept lemons, make lemonade.
It’s no secret that the Kardashian family rise to celebrity fame was the result of Kim Kardashian's sex tape leaked in 2007. However, there is a business lesson that can be derived from the debacle. When Vivid Entertainment bought the rights for $1 million and released “Kim Kardashian: Superstar," Kardashian first sued Vivid for ownership of the tape, but was later persuaded to drop the suit and settle with the company for $5 million. Mortfiying? Yes. But profitable? A resounding yes. The Kardashians show business owners that when handed an obstacle, tackle it–it may even be a profitable opportunity.
Keep it in the family.
Kardashian matriarch Kris Jenner has been criticized for “pimping out” her children, but the mother’s shrewd dealings may be a smart move. Of the 10% manager fee Kris takes from her family members’ earnings, daughter Kourtney says, “We’d have to give it to someone else; I’d rather keep it in the family,” and Kim states, “She has this vision for us, and she makes it happen.” In fact, it has been reported that Kris “makes it happen” to the tune of $65 million a year. What can business owners learn from this? When the goal is to build wealth, keep it in the family – all of it.
Talk yourself up.
As Barbara Walters recently explained, the Kardashians are maligned as much as they are beloved because they are “famous for being famous." Regardless, the Kardashians are massive earners because they have presented themselves as important to television, profitable for companies, and valuable for consumers. When Kris Jenner says, "People love looking at the growth of a brand" in regards to her own family, we are also inclined to see them as an established, lasting symbol. What can business owners learn from this? Projecting confidence is the key to success – take it from the Kardashians.
Frozen Yogurt Franchises Are Freezing Over America
Yes, all of the aforementioned stores offer frozen yogurt. And most of the products they offer are kosher, fat-and gluten-free, all-natural, and filled with probiotics found in “regular” yogurt that support immune health. Speaking of Pinkberry: Where does the equally colorful, both in name and storefront, Red Mango get off throwing around allegations of copycatism?
How Apricot Lane is Creating Retail Boutiques with the Franchise Model
You are correct - it is very difficult to use the words, "flexible" and "franchise" in the same sentence! The flexibility comes with allowing our franchisees to cater their product mix to their local demographic. Florida fashion is different than North Dakota, Louisiana or California. The sophistication comes with the build-out, marketing, point of sale - inventory management system, intranet communications, buying resources and most importantly, the networking of franchisees across the country sharing fashion trends and what's working.
Watch out, Franchisees! 10 Franchisor Red Flags
Only a limited number of states require registration by franchisors, and franchisors are by no means required to register in states where they have no intention of selling franchises. However, if a mature franchisor appears to be consciously avoiding the registration states, this may suggest some level of internal concern about the FDD, the franchisor’s sales tactics, or the franchise system as a whole. The cover pages of the FDD will identify where the franchisor is required to register (and whether it has registered or not), and the charts in Item 20 of the FDD will explain whether the franchisor has ever sold a franchise in any of the registration states.