Franchise Businesses and the Internet
From Entrepreneur.com: How the internet has led to a franchise boom, and how your franchise can benefit from it.
For the last several years, record numbers of new franchisors have entered the marketplace—more than half the franchisors in the marketplace today are less than 10 years old.
Why this explosion?
In part, businesspeople are becoming more aware of the power and the benefits of franchising. But beyond these factors, another not-so-obvious factor has instigated this explosion: the internet.
Perhaps more than any single factor, the internet has helped level the playing field for the new franchisor. Never before has someone been able to get the message of a new franchise to a broad market this fast.
Two decades ago, if you wanted to compete with “the big boys,” you would need to advertise to get franchise sales leads. Back in the Dark Ages of franchising, about the only way to get any real exposure would be to run full-page ads in Entrepreneur magazine and two-column-by-three-inch ads in the Wall Street Journal. That kind of advertising commitment was simply not economically feasible for most startup franchisors…..Full Article.
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