How a Franchise Agreement and a Franchise Disclosure Document differ
There are two documents that are of vital importance...
When looking for a banker or lawyer, you want to find someone who has key personality traits – trustworthiness, reliability and perhaps conservativeness. Just like people, every brand has a personality that attracts certain types of consumers. Take the Grey Poupon Dijon mustard commercials that depicted limo-riding upper class using only “the finer things in life.” Whether you identified with the commercial, embraced it or felt putt-off by it, there was a clear personality given to the mustard providing recognition within a cluttered and competitive marketplace.
It is often far easier to talk about something we have words and images for, such as people, cars or even breeds of dogs. So, by describing a brand as a person, marketers and consumers can project, accept or reject the brand image.
Although people like to believe they react rationally to products and offers, the truth is they typically react emotionally and then look for a rationale to justify their decision. Everyone’s done it; bought a CD just because you loved one song or purchased a car because of the colour. Logical? No. Realistic? Yes.
Think about the words you would want people to use when defining your business. List the words or personality traits you want people to associate with your business and be certain you choose a franchise that lives up to that desired image. Does the franchise portray those images in their marketing consistently and repeatedly? A well-managed brand creates a strong emotional connection and that’s what creates brand loyalty.
Solid brands create customer trust and an emotional attachment, allowing them to withstand price wars, new competition and even poor economic times. Brands are big business because they make selling easier, both in person and online. People prefer to buy from companies they can trust and a solid brand with an identity people can relate to can convey that assurance.
Companies have brands that convey personality but there is also what’s called “personality brands.” These are individual personalities that are so well known that they create value when associated with a product or service; for example, Oprah Winfrey, Martha Stewart, Gordon Ramsey, Emeril Lagasse and Julia Child, to name a few. Personality brands are brands that have reached a whole new level. They are often used to present or endorse a product, service or location because of their wide reaching popularity.
Some product brands evolve from the personality brand. Jamie Oliver’s line of cookware has flourished due to his fun, engaging personality and the fact every one knows who he is. Other personality brands are born from the popularity of a product. The late Dave Thomas became a personality brand as a result of Wendy’s advertising and marketing campaigns. Galen G. Weston from Loblaw Companies Ltd. is following in Thomas’ footsteps. These personality brands not only reach the consumer on behalf of the products or services they endorse but are able to use their popularity to bring attention to events and charities.
Personality brands are not just for the Oprah’s of the world. You don’t have to be a celebrity to get noticed. Many community leaders become personalities whose endorsements of projects or fundraising campaigns become great successes.
Your brand lives in customers’ minds, so when identifying the franchise brands that you may be interested in, developing make sure consumers’ beliefs and perceptions of the brand are accurate and in line with how you want t be perceived and thought of. When people are aware of your brand, they understand what you stand for. When it comes time for them to purchase a product, choose a restaurant to eat in or hire a service provider, they will have already processed your unique personality traits and made a connection with what you stand for, allowing them to make an informed choice they feel comfortable with and enjoy doing.
If you “fit” your franchises’ brand personality your ability to succeed will be far greater as you will be living and promoting your brand everyday.
Start your research today into franchise opportunities..
