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Competitive Advantage: Deploy an AR Strategy for Market DominanceMarket dominance is the measure of the strength of a brand, product, or service relative to the competition. Emerging franchise companies that are the first movers in their market niche need to be agile to establish their market presence before more aggressive or better capitalized companies move into their niche and overtake their first mover advantage. Strength in Numbers: Pooling Area Rep Marketing Budgets Helps Emerging Franchisors"The one with the most money wins the battle in recruiting new franchisees" is an axiom that means more now than ever. Emerging franchise companies have a difficult time getting the attention of serious franchise candidates in today's challenging economic environment. This is because new advertising and marketing channels are emerging, and more franchisors are chasing a limited number of qualified franchisee candidates. Replicating Your Franchise DNAThe Human Genome project, a rapidly developing area of genetics, is the subject of much conversation today. In classical genetics, the genome of an organism is a complete genetic sequence on one set of chromosomes. The ability to understand these building blocks of life will lead to medical breakthroughs that will transform our lives in the future. Metaphorically speaking, a "Franchise Genome" could be viewed as a manifestation of how a franchisor's DNA can be sequenced, understood, and passed along to franchisees. Pizzanomics: Would You Rather Have All Of A 4-Inch Pie Or Half Of A 30-Inch One?Earlier this year, I had the opportunity to attend Franchise Update's annual Multi-Unit Franchising Conference in Las Vegas. I sat on a panel of experts in a session titled "Development Strategies: Accelerating Growth Through Area Representation." During this session, the advantages and disadvantages of area representation (AR) were discussed. As the session concluded, there appeared to be a few franchisors converted to the AR concept. Funding an AR Growth Strategy: Five Key Elements Are Essential To SuccessIn these uncertain economic times, emerging franchise companies are finding it difficult to fund their franchise expansion strategies. Traditionally, franchise companies fund their startup and expansion in one of two ways Crafting a Strategy for the Times: Area Representation Delivers The Resources For Continued GrowthReading newspapers, listening to the radio, or watching TV today is like drinking from a fire hydrant. Here are some recent headlines: The 7 Best-Kept Secrets of Area RepresentationIn the 2008 U.S. Open Golf Tournament, Tiger Woods won it all in a sudden death playoff on the 91st hole. Avoiding Rookie MistakesAs "newbie" franchise companies decide on strategies to grow their systems, they have three choices:
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A full-service law firm with a national practice dedicated almost exclusively to franchising and business licensing matters.
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