A franchise is a term of art in business. It refers to the most common legal form of doing business, a “business format” or operating system. In particular, it means that one company sells its products under another company’s name and trademark (usually) but independently from that other company.
This format is particularly effective and useful in the several industries & markets, where a franchise name may have great brand recognition while still being able to sell at an affordable price. A single company can open multiple locations and gain market share rapidly, without having to invest heavily in each location.
Covid-Proofing Franchises in 2021
Franchising is a more advanced business model than small, independent stores or the sole proprietorship. A franchisee does not have to invest heavily in equipment and can borrow money to open a store without being creditworthy on their own.
Franchising is also an effective way to gain a market share without having to invest as heavily in the initial store. Franchises can be opened more quickly and cheaply than independent stores, allowing for faster expansion.
What franchisees already know:
- Even when buying into the brand, the marketing done by the franchisor alone may not drive traffic into your business.
Franchisees don’t typically market directly or call their customers to generate new business. They usually purchase a territory and expect the franchisor to do the marketing with some semblance of demand.
Brian Beers, owner of 12 Midas businesses, took matters into his own hands to covid-proof his business and keep the customers coming in. Here’s how…
Ramping up operations to drive in more traffic
Brian Beers instituted a virtual assistant into his operation of 12 franchises so that the assistant can take over some of the business process, leaving more space for managers to focus on the sales process.
Putting local marketing, prospecting and outreach into his operations made Brian remain as the top-producing business in his state. His virtual assistant help with:
- effective marketing, prospecting, business administration
- coordinating and organizing workflow for boots-on-the-ground employees
- sending customers emails, cold calling, and shooting them text messages.
Most franchise owners aren’t used to marketing for themselves. The marketing franchise fees is all they see. The secret is to handle your own effective marketing to keep your business revenues up.
Success for Scaling Operations in 2021
To grow a business, brain power is key. New software and tools are never the only answer. In today’s market, it takes a combination of both.
How? Hire educated professionals for your sales development + prospecting —
— with proven track records in virtual operations — at up to 70% less than the cost of a traditional employee!
Spend time closing more deals while your full-time sales development and prospecting virtual assistant handles the lead flow & nurturing process. Your local team can focus on the dollar-productive activities for your business to outperform the competition!
The formula: ↑ Digital tools + ↑ Brain power = ↑ Scaled business operations & GROWTH
Our client Marvin’s virtual assistant (Sales Development/Prospecting Rep) helped him earn $43,000 in one transaction. He shares, “If you’re still on the fence about hiring one, my advice is: just do it. The ROI on our virtual assistant is amazing – I’m going to finish the year with over 20x ROI.
ENVISIONING OF A NEW REALITY FOR YOUR BUSINESS
Simply put, MyOutDesk equips entrepreneurs & business owners with tools, strategies, and virtual employees – and when combined, businesses have a competitive edge and find growth while efficient systems and processes are put in place.
MyOutDesk proudly provides additional free business growth guides, books, and strategy calls.
See what we are about, and schedule a free consultation with us. We’ll take the time to learn more about your business and offer solutions to foster top talent and lower operational costs for your company.
Experience The Difference
MyOutDesk can save you up to 70% on employment cost
Claim a free business strategy consultation & ‘Grow Virtual’ Guide
Did You Know? MyOutDesk’s origin story is set during the last global financial crisis of 2008. Yes, that’s right — our business started by scaling businesses with virtual assistants during a recession! Pioneers of virtual assistant services, our first client in 2008 went from five to seventeen VAs with a completely revamped organizational model in short order, and he told MyOutDesk, “Our virtual professionals have shaved $250,000 off our monthly overhead.”