Business: The keys that activate the virtuous circle of the franchise

The crush between the teacher and the franchisee that guarantees a lasting relationship, financial capacity and ability to attract and retain customers are some of the keys that experts explained in the third annual meeting of the Entrepreneurs Magazine with the world of franchising.

'Business Keys' Image Credits: Flickr Under Creative Common License

The presence of approximately 200 attendees at the third edition of the day of discussion and networking director of the Entrepreneurs Magazine, to talk about a “therapy to the beast” where to share their projects with the protagonists of the sector, their concerns, the problems and the keys to achieve success in a model of entrepreneurship booming and increasingly mature and dynamic.

The data provided by Luisa Masuet, president of the Spanish Association of Franchisors (AEF), served to support this reality in our country. “With sustainable growth in recent years, we can say that franchising is a booming business model. 

The figures at the end of 2018 were a joint turnover of 27.7 billion euros, with 7,700 stores open in Spain and 1,376 stores. The numbers speak for themselves. And most importantly, a segment that employs 300,000 people and that nothing suggests that it will not continue to be so in the future. ”

With these tests of sector robustness, Masuet welcomed all attendees to the third edition of Entrepreneurs in franchise, the annual event organized by the Magazine with the main representatives of the sector and that this year was sponsored by Cajamar Cooperative Group, Dihme Group, Carmila Spain and Eroski Group.

Customers are needed

Making Customers more comfortable. “The customer has become more comfortable. Now it is harder for him to move from home because consultations can be made from his cell phone,”said Felix Revuelta, a voice authorized by his 30 years of experience.

More technological. The mobile has facilitated that greater customer comfort but it has also made him wiser and more demanding. “In the fashion sector we have reacted late. 

We thought that, once the crisis was over, everything was going to be as before and it was not. We did not realize that people carry a phone in their hand with all the information in the world. We have been slow to listen, understand and give new customers what they asked for,”said Zamacola.

Brand creation becomes important. Another consequence of the crisis was the entry into a price war, something that has become a scourge for certain sectors. The best way to combat it is to "add value" and create a brand for which the customer does not mind paying a somewhat higher price because he knows he takes more.

Five stars service at the price of three. This was the formula pointed out by Revuelta to, together with the brand, win new customers and build loyalty.

The search for experiences. "Before we were going to buy, then we were going shopping and now we're going to look for experiences," Alberto Rodríguez said.

Put in value the dependents. One of the needs suggested by Zamacola to retain customers was to value the figure of the seller or the dependent as a person who is in direct contact with them.

The value of the data. More and more of the big data and social media tools are used to support decision-making in the outcome of the data.

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