What's Your Next?

Marketing Related Questions To Ask Other Franchisees During Due Diligence

July 25, 2022 Stacey Riska Episode 13
What's Your Next?
Marketing Related Questions To Ask Other Franchisees During Due Diligence
Show Notes


We're continuing with the questions you should be asking franchisees during your due diligence phase of evaluating franchises. We've been through some pretty good questions before and a bunch of different categories. If you want to know what those are, you'll have to go back to previous episodes. But today we're covering one of my favorite topics. I know Stacey's going to be super excited about this one today. These questions, because today we're talking about marketing.

So there are three questions. We're going to go, we're going to ask Stacey the question she's going to answer as a prospective franchisee purchaser, you know, based on our experience, and she's going to tell you why she believes this question is an important question to ask. I may add some comments.

What kind of marketing support does your franchisor provide to your marketing efforts? What might you change if you could?

Definitely, a question you want to ask a prospective franchisee or a current franchisee. So I'm a current franchisee. You're asking me what kind of marketing do I get? And my answer to you would be not much.

So if you're looking to invest in this franchise, I would tell you that you're going to really need to do your own marketing. And it's very locally oriented the franchise every once in a while, we'll come up with some big brand pretty stuff that you can maybe repurpose, but you don't get a lot of that boots on the ground, guerrilla marketing. Now, in most cases, franchisors don't really help you with local marketing. So you want to understand, as you're talking to different franchisees definitely understand where they are on the tiers (of performers). Are they a top performer, a mid performer or a bottom performer?

My guess is anybody who's a top performer, a key reason is the marketing, and what kind of marketing are they doing? Because when it comes to marketing, there's digital marketing, including a website, social media, email, and so many different things you could be doing online. But there are also offline things such as simple as a wrapped vehicle, business cards on your vehicle, door hangers, direct mail, knocking on doors, networking … so many offline strategies.

So understand the mix of what the mid the top and the bottom performers are doing. Understand how much they're spending on marketing. What is it going to cost you to get a customer client or patient in the door? I can go on and on about marketing.

... Continued in Podcast ...

Contact Us For The Full List of Questions:


Contact Us