The top eight stories you probably didn’t need to know in franchising this week.
1. Frantastic: We’re back with a new episode of “The 8,” and we’re kicking things off with some Frantastic news for brands who are creating content on Snapchat. The app is taking steps to make its partners happier by sharing ad revenue with them. The idea of splitting revenue isn’t new — YouTube offers its own ad revenue split with both small and large creators, and Facebook is currently looking into ways to monetize options across its platform and Instagram. So, if your brand is active on social media — or considering stepping its game up — now is a great time to take that step.
2. Franlebrity: All month, we’ve been highlighting Franlebrities from our current Franchise Development Website Guide issue that’s running on 1851, and this week is no exception. We spoke with Justin Baloun, the founder behind Wheat Creative, to learn more about what makes a franchise development website great. He said strong sites come down to user experience, noting, “A great franchise development site needs to be attractive and well-branded, easy to navigate, and impactful, with content that makes an emotional connection. The challenge is putting all of these components together in a perfect package.”
3. Frash Money: In order to make Frash Money, brands need to be bringing in new franchisees. And to make that necessary goal a reality, franchisors need to have a strong franchise development website that attracts attention. But in today’s digital-centric world where consumer preferences and web design trends are constantly changing, it can be hard to know which steps to take when creating or updating a franchise development site. That’s why 1851 spoke with No Limit Agency’s own Michael Palm, Senior Project Manager, Digital, to get a sense of where franchise development websites are likely to go in the future.
4. Frant of the Week: There are plenty of people who can identify a problem. The majority of those people can identify a solution for that problem, too. But when it comes to actually doing something about it, the percentage of people who take action is small. In his latest Frant, No Limit Agency CEO Nick Powills explains how this applies to both business and franchise development, highlighting that brands shouldn’t be afraid to make adjustments when they hit a challenging spot. Check out the full column on 1851.
5. Franch Forward: Forbes released its annual ranking of brands that are Franching Forward — and those that may be falling behind. Its list of the best and worst franchises to buy in 2018 uses information from FRANdata to rank brands based on sustainability, demand, the value of the investment, franchisor support and franchisor stability. A few of the top concepts to buy this year include Freddy’s Frozen Custard & Steakburgers, Sport Clips and Right at Home.
6. Fran Funny: What does a grape say after it’s stepped on? Nothing, it just lets out a little wine.
7. Franspiration: “Budget for both an initial site and then for annual upgrades/updates. Your site needs to stay fresh in order to keep pace with today’s candidates.” - Georgia Chasen, Vice President of Franchise Development for Sylvan Learning, on what brands should budget for their franchise development websites.
8. Franemies vs. Frands: Burger King used National Onion Ring Day as an opportunity to call out its Franemies. At select locations in a few cities across the country, the brand allowed guests who brought in fries from a competitor’s restaurant to trade them in for a free serving of Burger King’s onion rings. The brand used the creative promotion as a way to highlight a point of differentiation on its menu.