Franchise Can Complement an Existing Business
Adding a Proven Name Can Better Service Existing Clientele
Jun 30, 2008
This marks a massive sea change in the way franchising is done. Previously, franchisors wanted a franchisee to run one business. But just as they've done with multi-site franchisees, franchisors are now allowing, if not encouraging, complementary businesses.
One call, multiple services
Take FiltaFry for example. The company services the deep fryers in restaurants. One can purchase a FiltaFry franchise on its own or can add on a FiltaCool franchise, which services the coolers at restaurants. It doesn't take a rocket scientist to see how offering both services would be a benefit. Not only can the franchisee sell two services, he can do so without having to roll the van more than once. In these days of high gas prices, that can be a huge savings
Rounding out offerings
Moran Industries allows for co-branding or even tri-branding among its family of franchises in the automotive industry. One can buy a Mr. Transmission, Milex and Alta Mere as a stand alone franchise, or any combination of the three. Again, offering these services rounds out an existing automobile shop while bringing in the brand awareness and confidence of a franchise. Of course, the purchase of more than one franchise ups the franchise fees, so attempt to negotiate a package deal upfront.
Smoothing out seasonal dips
Maintenance franchises are another place where business owners should consider multiple options. If you run a lawn care service, or something else seasonal, a franchise like Decorating Elves, which strings lights around the holidays, can make that business year-round.
Imagine the possibilities
Of course, one can add a franchise to an existing, non-franchise outlet as well. Perhaps a smoothie franchise to a non-chain sandwich shop. Or a Bear Creek Coffee license (which isn't really a franchisor, but more of a business licensor) to a bookstore.
The idea is to think of your current clients. What sort of additional services might they need? If you are a packing company, how about print services? Do you run a pawn shop? Perhaps a check-cashing franchise might be worth investigating.
Now, think about the kind of clients you'd like to bring into your location. What sort of franchise might increase the foot traffic to pull in those clients? Once you get them in the door, you can show them the cadre of services.
The possibilities are endless. One only needs to look at the various franchise offerings and explore what might round out an existing business, provide additional services to an existing clientele or draw in new customers with the franchise name.
