EXPERTS THAT KNOW YOUR MARKET & LOCAL CONSULTANTS
We are the first to say there is a lot to do when you are starting a franchise or revamping your franchise development strategy. Training materials, operations manuals, marketing campaigns, lead generation, and so much more are calling for your attention while you develop your franchise opportunity.
Finding the right cities and locations to fit your brand may seem like just another thing on your list, but do not underestimate the importance of location. It’s not by accident that location, location, and location are the three most important things in real estate, and franchising is certainly no different.
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Large populations
Simply put, the larger the population, the larger your customer/client base. A highly populated area gets your brand lots of impressions, especially if you help your franchisee choose a smart location with high traffic.
Steady growth
“Growth” is a word that franchisors love to hear! Choosing a city with steady population and economic growth is a smart choice.
Diversity
Look for a city with a diverse population and economy for a greater chance of success. You don’t want your franchisees to get stuck in a place where one industry dominates the entire business landscape.
Balanced competition
Competition is tricky. On the one hand, you don’t want to sell a franchise opportunity in a city that is already saturated with businesses just like yours. On the other hand, it might be a sign if your target location doesn’t have any companies that do what you do.
What to Look
for in a Location
As you probably know, in order to succeed as a franchise, your brand needs to be able to thrive in a variety of markets with different owners and customers. Some of the top franchise cities have a few things in common, including: