The top eight stories you probably didn’t need to know in franchising this week.
1. Frantastic: The Super Bowl is a Frantastic event for brands—instead of being overlooked, their marketing campaigns become the center of attention. But creating a quality ad that has staying power beyond the end of the big game is hard. After all, it’s not like every brand has the Clydesdales—or “Dilly Dilly”—at their disposal. That’s why it’s important to focus on creating a message that inspires people and makes them feel. Even if your franchise isn’t advertising during the Super Bowl on Sunday, creating a campaign that inspires action has the potential to lead to a viral moment.
2. Franlebrity: Even though this week’s Franlebrity is just breaking into the franchising industry, we have a feeling everyone will know his name: Alex Rodriguez. The baseball star turned business leader spoke with 1851 about his decision to buy into the emerging concept TruFusion, and connected the dots between lessons learned on the field and how he now leads A-Rod Corp. He said, “I was a beneficiary of great coaching. I believe leadership makes an enormous difference in accomplishments. It really is hard to evaluate talent when you don’t have the right leadership.”
3. Frash Money: If your brand is struggling to make Frash Money, you might be falling into one of the pitfalls that often trap franchisors. To help you avoid them, we broke down seven common reasons that franchises fail, from not vetting candidates properly to expanding too quickly. Head to 1851 for the full article and more helpful tips that can help lead to long-term success.
4. Frant of the Week: In today’s social media-centric world, all voices are credible—even Lavar Ball’s. While he isn’t a sportscaster or a member of the Lakers organization, the drama that he creates around the team has a negative impact on the entire brand. That’s why No Limit Agency CEO Nick Powills’ latest Frant highlights the importance of avoiding the Lavar Balls of the world when building a strong team. No matter how good the talent is, positive PR should always be the desired outcome.
5. Franch Forward: One of the best resources for franchise brands looking to Franch Forward is conferences. That’s why 1851 rounded up 25 industry events that franchisors—and prospective franchisees—should check out in 2018. Even though January has already come and gone, there are still 11 more months to get out on the road and make stops at franchise conventions. The next one to look out for is IFA 2018 in Phoenix, Arizona.
6. Fran Funny: This week’s Fran Funny is probably the best thing you’ll see this week. Check out the blooper reel behind our Quick Tips for 2018 series.
7. Franspiration: “I was always planning for life after baseball, even in the middle of my rookie season. I saw so many athletes go from rags to riches back to rags. I would see their lives and careers change because of one injury. I saw a lot of athletes go from the penthouse to the outhouse. I wanted to be ahead of the game. All these things started creating fear—that’s why I started A-Rod Corp.”– Alex Rodriguez on why he pursued a career in business after baseball
8. Franemies vs. Frands: Brands often view Twitter as a Frand because it’s a platform that helps them connect with consumers. But how many of their followers are fake? The New York Times reports that as many as 48 million of Twitter’s reported active users—nearly 15 percent—are automated accounts. And some people have been called out for buying their followers. That’s especially concerning today given that influencers have the potential to sway opinions. When partnering with these influencers and building a strong following, brands need to be sure that their connections are organic. If they’re not, Twitter may become a Franemy.