How Can you Promote New Franchises When on a Tight Budget?
So, your business has been booming and customers are buzzing around your store all day. Some come from faraway places and keep suggesting that you open up a franchise outlet nearby soon. Considering the profits your business is making, you seriously contemplate the thought and finally it dawns upon you to start a new franchise. This can give a good boost to your company.
Although the thought has a silver of excitement shooting right down to your toes, you need to understand that this could end up becoming a very pricey affair. When you start small outlets in different locations, it will be as good as running an individual business and that means that you have to stick to the budget. Marketing activities can take a serious toll on your business, especially in the first year.
So what is your ulterior motive in such a situation? You should find innovative ways to build customer loyalty without spending too much money. Your job is to ensure that your company is the first name to pop into the minds of customers who need something that you offer. How can you do this?
Lapel pins:
This is the best option if you are planning to open a franchise on a budget. These cheap lapel pins are not only pocket friendly, but also extremely appealing to the human eye. Today, there are so many varieties of lapel pins that are available that you will be spoilt for choice.
To make things easier for you, you also have the option of customizing these lapel pins to suit your specifications. Why is that so important? For starters, you can order a lapel pin that has your company name and logo emblazoned on it. This way, when you give your customers a lapel pin, they know that it belonged to your company and they will always come back for your services or products.
When you have the store opening arranged, you can hand over these lapel pins to customers to stir in a little excitement. These pins that look so attractive can also be part of certain promotional activities. You could arrange for certain contests that revolve around these pins like giving discounts to the owners of these pins and the likes. This will definitely boost the sales.
Coupons:
Apart from cheap lapel pins, coupons could also be an effective promotional technique for your new franchise. People living on the face of the earth love discounts and anything that is free. When you see an apparel outlet displaying a flat 50% sign, you will realize that half the apparels in the store will be gone in a matter of seconds.
This is what discounts can do and you must take advantage of this fact by providing offer coupons. This is a great way to attract a large crowd of people to your store. The best and the most economical way of ensuring coupons reach customers is by printing them in newspapers.
The exorbitant price that a newspaper charges for advertisements may not be suitable for your business; and that is when printing coupons in the newspaper can be a saviour.
Community events:
These events are an excellent way to connect with your customers and possibly get some good amount of coverage from the press. This way, you get good sponsorships for your outlet and at the same time, it serves the local community well.
These are some amazing marketing and promotional ideas for your brand new franchise to be successful. With a little effort, your business can reach enormous heights.
Author’s bio:
Martin runs a business of donuts and since long he wanted to open a franchise in several other locations to increase the number of customers. Using affordable marketing options like cheap lapel pins, school pin and many more type of such pins has helped him to generate good profits and he advises everyone to follow these tips to ensure success.
Category: Business
