When Do you Announce You’re Opening a Franchise?
Deciding when to announce anything in life is a delicate balance between telling people before they find out on their own … and telling them your news before too many details have been ironed out. You want to let folks know what’s going on in your life, but not at the sake of giving away too much. Hence the balance.
You have to find the just-right time to share and discuss.
Telling the world about your upcoming franchise location is no different. Of course, you want to make sure all your t are crossed and is dotted – lest you risk the idea of another competitor undercutting your contract or location. Yet you want to give enough time for the word to travel, and for others to spread your good news on into the general public. It’s a move that’s great for marketing and drawing in new customers as soon as you open.
So the big question remains … when is that date?
The answer is almost always: whenever you’ve finalized with your franchising company. Once contracts have been signed and you’ve gotten their go-ahead, it’s safe to start spreading the word. Doing so earlier can bring the risk of having to backtrack and go back on what you previously announced.
Of course, you will likely tell those close to you what you’ve been up to and what your next professional moves will be, but this is also with the understanding that you’re talking in confidence. As far as a public announcement, as in anyone and everyone is allowed to know, tell the world once you’ve gotten your franchising go-ahead.
Other things you might want to wait on spreading the word on include: a location, an opening date, or any potential hires. Before any of these items are finalized, you risk sharing too much, too quickly and might ultimately put your business at risk when giving up the deets.
In the same light, you don’t want to avoid telling others for too long and risk taking them by surprise. Announcing through word of mouth, as well as in local media channels (newspaper, radio, social media) allows you to advertise well in advance. This lets new customers know your franchise is opening, while giving them time to think on when they can use your products or services. Putting up a sign while building or remodeling can also show them where you will be located, allowing them to plan out a future trip before you ever even open your doors.
In this light, sharing is actually advertising!
Another route to consider is local events that you can sponsor and/or attend as a presence. If your community hosts local business fairs or advertising opportunities, these are also a good place to spread through word of mouth. Consider signing up for or sponsoring future events that can bring back good advertising efforts.
Don’t be afraid to remain forward-facing to introduce yourself as a franchisee, as well as your product or services. The more people know and trust you, the more customers you will have pouring in the doors.
Though telling people that your business exists might seem straightforward, it can actually be a delicate balance between sharing the right amount of information at the right times. Consider these timelines, and the implications they might have on your customer base (in telling too soon or too late) to help narrow down your best results as a franchisee.
And when all else fails – or you just need another opinion – ask the pros. Talk to your franchising brand or a business mentor and get their seal of approval in going forward. It’s a great way to bring added peace of mind to what might seem like a big step in your business ownership journey.
Be sure to plan out this and other marketing timelines for your upcoming franchising brand.