28 January 2011

On Franchising

I am planning on acquiring a franchise. Some say this is a good idea because, according to one article I read by Fitz Villafuerte:

The strongest argument for buying a franchise is brand recognition. Getting a popular franchise gives you a higher rate of success.

I also think that if I follow the company's formula, I do not have to think of what works or not. They should have that thought through already. I also hope that they will help me all throughout the process as I have very little business experience.

I wonder, if I would like to implement my own business strategy, would they let me? For example, if I want to let the people in the area know that I exist, could I give out something like promotional pens? Of course, I will have to put the logo on a pen I will distribute so the potential customers would get acquainted with the brand.

Then, to keep the customers coming, I hope I would get the fund to acquire personalized pencils and stationery to give away to wonderful customers come Christmas. But, that is, if it is not against the company's policy. Things like these I have to remember to ask the company. Maybe they would have their own style of marketing that I must follow, definitely.

Please wish me luck!
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