How a Franchise Agreement and a Franchise Disclosure Document differ
There are two documents that are of vital importance...
Part of your success as a franchisee is going to involve the advertising done for your brand at a national level and your location at a local level. When you are exploring franchise opportunities in Canada, it pays to take a look at each franchiser's approach to advertising and whether they are tapping into the trends of today to reach the largest audience possible.
Online is king
Digital ad spending is up in Canada, with Statista estimating online ad spending in Canada will rise by almost half a billion dollars from 2016 to 2017 (https://www.statista.com/statistics/278800/canada-digital-ad-spend/). This is in clear response to the habits of today's consumers, who access information in a wide variety of ways. Review how much online adverting the brands you're considering carry out and check the quality of their current and past campaigns.
Social media is another factor today's brand has to consider as people use social media to find out what other people think about brands. Because of this, feedback and comments on social media need to be addressed in a way that leaves other people who may read the exchange with a positive impression. Take a look at the social media accounts at the national and local levels. Evaluate what you see. Is the brand responsive? Are consumers responding to their content? Don't forget to review the advertising policy in full and the sections regarding social media, too, so you can see what you are allowed to do on your own as a franchisee.
Knowing the customer matters
Being aware of who a customer is was always important in the world of advertising, but one can argue that it's even more crucial today because of the deluge of information consumers are now bombarded with on a daily basis. When a brand knows its customers, it can deliver content in a meaningful way instead of getting lost in the noise or failing to leave an impression. Check if your franchise options appear to be connecting with their customer base. One way to evaluate this is by searching social media to see how the brand interacts with customers and what people have to say about it.
While marketing and advertising alone won't keep a brand relevant, they certainly help. Brands also need to stay ahead of what customers want and what the competition is offering, and this is true across multiple categories, from retail to food service.
