30 Mar Setting up a franchise. How to stay ahead in a constantly changing market
The world of business is constantly changing. What worked in marketing or management three to five years ago may no longer work today. If you keep using the strategies that you designed and implemented years back, you’ll sooner or later you may be left behind.
For businesses to continuously grow, it’s important to always adapt to the changing times. Marketing is one of the key areas of your business that must always be evolving
Technology has greatly affected the way business works. When it comes to marketing, the development of technology has improved not only how businesses send their messages to their clients but also how their clients can respond to the business owners. The Internet has drastically changed the way companies do their marketing. Marketing is now faster and more responsive and needs to be across a number of platforms rather than just one or two. The good news is that the there are now many more ways to interact and market to your client which are more affordable and easy to access. Whether it’s your website, facebook, twitter, linkedin, instagram, online directories, blogs or apps, there’s lots to choose from. The flip side is that there is also more competition, so you need to keep ahead of the game and not implement a ‘sit and forget’ approach to your marketing.
Management is another area of work that has changed considerably over recent years. Once upon a time management was top down. Messages came from on high and were transmitted down the line to employees. However today there is whole new approach. Today the workplace has a more open culture, where employees are free to share their ideas and to contribute to the business’ growth. This enables businesses to fully engage with their staff and to give them a deep sense of being valued. This in turn results in increased productivity, which is a win win for everybody.
If you’re thinking of franchising your small business, make sure your company always move forward and your franchisees follow suit. Learn from the saying, ‘You can’t do today’s job with yesterday’s methods and be in business tomorrow.’
If you want to set up a franchise, contact us now at Franchise Institute. We’ll help you grow and expand your business.