The Wealthy Franchise helps Companies develop their unique brand. A brand identity may include a number of aspects such as: a name, logo, trademark, packaging, or a particular font and color scheme.
All of these are used to identify the product’s or service’s owner and distinguish them from their competitors. This is equally true in the world of franchising. It can take years to build a brand. We work with franchise operations that are just starting our or some that have over 100 locations in Canada alone.
Typically, these elements of a brand are legally protected as intellectual property through a trademark, which is registered with a government agency responsible for protecting intellectual property. It is important to search for the legal rights to a brand name before opening a business and marketing begins.
Building a brand is not a new idea, but the process has become increasingly sophisticated and supported by marketing research. It’s important to be able to think like a brand marker. Even as an independent business operator, you can borrow from the playbook of the established brands and take a strategic approach to brand building and management.
If you do join an established brand such as a well-known franchise, there are many advantages. You have immediate recognition and the weight of the corporate power to support you. Most franchisors collect a per cent age (often 2%/month) that is collectively used to promote the brand in the given territory. ( View more information on the topic here: http://reviewcompany.ca/buyer/)
Research indicates that there are quite a few financial benefits to brand affiliation. For one thing, brand affiliation increases a business’s market valuation as more locations are opened. That little franchise you acquired for $25K in 2010 may be worth $100K today if the chain has expanded effectively. In the hospitality industry, a 2009 study by Yankelovich found that four out of five travelers prefer a brand-affiliated hotel. Also, in the US, affiliated hotels have outperformed independent properties for the past 15 years on both occupancy and revenue.
Are you interested in starting a business?
Call us today at The Wealthy Franchise or email firstname.lastname@example.org
We are currently representing:
Active Body Nutrition
…and some others in the food and beverage industry. Our franchisors cover Canada and in some cases the US.