Trade Journals in Franchising
As many people know Industry Trade Journals in America have gone through a tough time in recent years due to slowing of advertising dollars. In franchising there is no difference. They use to give away subscriptions to Successful Franchising on franchise web sites; unfortunately that magazine was unable to weather the storm. They stop publishing in October of 2001. Now we see a re-emergence of Franchise Times, who has hired a new salesman, who is going to all the franchisors and telling them to advertise.
Most franchisors have theories of where it is best to advertise. Most DO NOT advertise in such trade journals. A few do, mostly for brand name recognition, although in my opinion it is a total waste of money. Franchisors who really care about their franchisees would spend the advertising dollars to get new franchisees in places that would help both getting new franchisees and helping their own franchisees get new customers; a much better way to advertise. I feel sorry for people like the sales man who called me trying to peddle these display ads and combat what must be an unending amount of rejection. I feel even more sorry for franchisees of any system whose franchisors blow money on any advertising, which does not help their franchisees. These costs are obviously passed on to new franchise buyers, who probably came to the franchisor's site through a web site or from a referral from an existing franchisee where they bought a sandwich, did dry cleaning, got their hair cut or got taxes completed. We have found that this sort of advertising in places like Franchise Times has never worked for our company, we believe it is a waste of money, even worse than attending trade shows.
As advertising dollars continue to dry up and even with all the media consolidation, there seems to be a very aggressive approach to sales tactics of these salesmen/women and a touch of unnerving arrogance among the editors, publishers and self-important writers. I guess that arrogance goes with the job, however I think it is time for all Industry Journals and media for that matter to come back to Earth, realize their relative value in our society. Everything has an intrinsic value and an actual value and we need Industry Journals to find equilibrium, because as it stands in my opinion, it is not even close. Why would any franchisor waste money on such advertising? Perhaps they themselves want to see their pictures in the ads, perhaps if the advertise they can get the editors to go ahead and do a story on the company? Maybe we have just too many egos in franchising? What say you?
Would you want to buy a franchise from a franchisor who blows money on such advertising, that could be better spent helping the team succeed together? I know I wouldn't. Maybe you should buy a magazine and then make sure to delete the franchisors that advertise in it as wasteful and not inline with financial responsibility, simply do not buy any franchise of anyone advertising in that way?
"Lance Winslow" - If you have innovative thoughts and unique perspectives, come think with Lance; www.WorldThinkTank.net/wttbbs
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