“It’s very frustrating,” Matt said. “My family’s been running a dry cleaning business in this town for many years. But this new guy opens up shop, and all of a sudden, he’s getting all the business – especially from the out-of-town tourists and the convention crowd. Why? Because he’s got the name everybody knows.”
Independent Westchester business owners often have a difficult time competing with national chains that provide the same product or service. Customers are drawn to the familiar name and recognizable branding. That’s the premise behind franchising. Now franchising is going to a whole new level: the digital level.
Digital Franchising: What You Need To Know
Digital franchising is a model where a local business owner pays a licensing fee to an established brand. In exchange for this fee, the local owner is granted ownership of a local market. That means that no other locations of that particular business will be set up in a given area.
They also gain access to a digital technology that will enable them to build a local business, under the parent name. Every digital franchise package is different, but typically, a digital franchisee is provided with a website, access to a back-end support network, branding materials and more.
Franchising experts agree that digital franchising may have the most appeal for service businesses, such as mechanics, hair dresses, dry cleaners, and home cleaners. There’s also a geographic element to take into account: you’ll want to understand how powerful the franchiser’s appeal is in your region before you commit to a franchise relationship.
On October 16th, SCORE Westchester is holding a free instructional session for Westchester business owners and entrepreneurs. Entitled “Franchises – Are They Right For You?”, this session will be jam-packed with helpful information you can use to make smart, strategic decisions about the future of your Westchester business. Reserve your seat today!