This roundup comes to us courtesy of BizEngine.
Use Of Loyalty Programs Rising
With the economic recovery proceeding as slowly as a turtle wearing high heels, franchises are increasingly experimenting with loyalty programs to keep their existing customers in the fold and spending money.
That’s the word from Direct Marketing News, who hold up Dunkin’ Donuts as a prime example of a company aggressively debuting a national loyalty program. That company’s brilliantly simple program gives customers $1 for every $20 they spend at at a franchise location, encouraging customers to clock frequent visits and rewarding those who already do. Such an approach is simple and requires little more than marketing and advertising to get off the ground, so you will certainly see more companies following in their footprints.
Melting The Ice, Franchise-Style
It’s still a nippy environment for franchises in many ways, though efforts to bolster lending targeted to franchisors and franchisees are growing. Faced with that reality, Entrepreneur.com has advice for navigating the chilly market.
While some of the big-name franchises are continuing to grow in their usual unabated fashion, other lesser-known ones are growing thanks to low investments, rapid breakeven and high margins, according to the article. Those include companies like Vanguard Cleaning Services and Tutor Doctor, who aren’t household names but are seeing growth that could be described as explosive.
If buyers see those three factors, Enterpreneur.com suggests, they’re much more likely to snap up a franchise. Worth keeping in mind.
No Objection To The Legal Symposium
Just a reminder that if you’re a franchisee with legal questions, the International Franchise Association is holding a symposium on those topics from May 15-17 in Washington, D.C. Check it out!
Got franchise news tips? Let us know!
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