The franchising industry is a small world. Even though there are nearly 800,000 franchised businesses in the U.S., it is still considered a niche market or a specialized business sector. It is also different from the general business industry because the government regulates it. The Federal Trade Commission keeps an eye on the industry – which is more beneficial than it sounds.
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As in any specialized field, it takes a group of specialized experts to make the wheels go around for franchisors. At TopFire Media, a company specializing in franchise digital marketing, we are fortunate to affiliate ourselves with other experts. We call it part of a franchise ecosystem, built over five pillars of a system that work together.
1. Consultants
Before our clients come to us for their marketing needs, they likely will need franchise consulting services to help them decide whether they want to franchise their business in the first place and guidance on doing so once they decide to proceed. Consultant companies like The iFranchise Group offer these types of services. They can help you build your Pro Forma, determine your fees, discuss training programs, offer sales training, and more. We are proud to be sister companies with The iFranchise Group, an excellent resource for our clients.
2. Counsel
Would you go to a divorce lawyer for a hit-and-run? Not likely. It’s always curious to find out if franchisors have enlisted the services of their family lawyer to handle their franchising legal needs. Because the FTC regulates the franchise industry, some specific laws and regulations don’t apply to other legal business affairs.
Compliance looks different state-by-state. For franchisors who want to expand nationwide, there are many different sets of rules to play by. At TopFire Media, we are proud to know and work with many different franchise law firms.
3. Franchise Marketing,
Of course, marketing is our favorite topic at TopFire Media. Franchise audiences are very different from consumer audiences. For example, if you own a pet store franchise, your consumer demographic comprises pet owners. Finding a target market for a pet store franchise owner is quite a different thing. They need to be financially qualified, perhaps have business management experience, and are entrepreneurial enough to want to own their own business but not so entrepreneurial that they don’t want to follow a system. See the difference?
At TopFire Media, we specialize in finding the right franchise target market and then address them with appropriate messaging once we find them to give our clients the best leads for new franchise owners. Did you know some words aren’t legally compliant regarding franchise marketing? This is one of the many reasons it is important to find a marketing company like TopFire Media that specializes in franchising. A simple earnings claim on your website or in a brochure is illegal. Those aren’t the mistakes you want to make in your business.
TopFire Media is a franchise marketing agency, offers public relations assistance. Did you know there are publications specifically dedicated to the franchising industry?
Along with the likes of Forbes and Entrepreneur, there are digital and print publications like Franchise Times, Franchise Wire, The Franchise Dictionary, and more.
4. Data
Like every other industry, the franchising industry is driven by numbers and insights. Some firms specialize in market research for the franchising industry nationally and internationally.
Are you seeing a pattern here? In the small world of franchising, everyone knows someone, and some know everyone. At TopFire Media, we have created collaborative, trustworthy relationships with other franchise professionals.
These relationships help us give our franchise digital marketing clients the best overall service.
5. Organization
If you look at individual franchise brands or groups of a particular kind of brand, like home services, you’ll likely find that each year they come together for a regional or national conference. It’s there that franchisees come together to learn and support one another and learn from their franchisor.
Likewise, for the entire franchising industry, there is an organization for everyone in the industry, not only in the U.S. but worldwide. It’s called the International Franchise Association (IFA). This is a body of resources for every individual in any aspect of the franchising industry.
At TopFire Media, we and other affiliated experts take part in IFA events, leadership, boards, panels, and more, to continue to educate and inform from one year to the next.
A Supportive Industry
Franchising may be a niche industry, but it is layered with rich, resourceful expertise with guidance at every level. It’s an industry woven together in a rich ecosystem designed to help one another. In this way, we can all be in business for ourselves, but never by ourselves.