The top eight things you probably didn’t need to know in franchising this week.
1. Frantastic: Brands tapping into the draw of Halloween should be in Frantastic places come next Wednesday. Halloween spending is on the rise — people across the country are expected to spend $9 billion on the holiday this year, matching the record-setting spending level that was reached last year. The average individual is expected to spend nearly $87 on the holiday.
2. Franlebrity: We’re calling out two Franlebrities this week — Lindsey Hunt of Williston Holding Company and Trevor Ackerman of WellBiz Brands, Inc. We spoke with both Hunt and Ackerman in order to round up 10 tips for enhancing social media growth. Their expert advice includes engaging with your brand’s audience, being authentic, having a defined voice and utilizing user-generated content.
3. Frash Money: As 2019 budgets are being established, one area in which franchise brands should consider spending some Frash Money is PPC. There are a lot of benefits that come with PPC — especially if your brand isn’t organically ranked on the first few pages of Google. In order to maximize these efforts, focus on owning your category, keep keywords specific, define your target audience and run tests to determine the best strategy. For more tips, head to 1851.
4. Frant of the Week: Franchise development budgets are created using simple math — brands often break down their cost per deal. But how many brands are taking a portion of that budget and dedicating it to referrals? According to No Limit CEO Nick Powills, not enough. In his latest Frant for 1851, Powills explains that while referrals are historically the most valuable asset in franchise development, brands don’t directly market to that audience.
5. Franch Forward: An IHOP location in Phoenix, Arizona is putting a franchisee-initiated bar concept to the test. The idea is called “Rise N Shine,” and it’s a full-service bar that offers specialty drinks. So far, IHOP is receiving positive feedback on the bar. There’s no word on whether or not they’re planning to roll the concept out system-wide.
6. Fran Funny: Why are skeletons so mean? They don’t have hearts.
7. Franspiration: “People know me which is nice. But it doesn’t matter to me if they know me or not - sometimes I like it most when they don’t. Because that means that I don’t have to talk about my old job or what I used to do. I’m in the food business now.” - Bo Jackson on using his celebrity status to build success.
8. Franemies vs. Frands: Arby’s is rolling out a new LTO that’s making a lot of Franemies, and maybe a few Frands. The brand announced that it will offer a duck sandwich in 16 of its restaurants that are close to popular duck-hunting grounds. The sandwich will be topped with fried onions and smoked cherry sauce. This new LTO isn’t too surprising for Arby’s — the brand tested a venison sandwich a few years back that sold out in less than 20 minutes.