Coconut Creatives will again be offering free one2one marketing clinics at this years Franchise Marketing Conference on 17th September. Held in Birmingham, this annual event gives franchisors a chance to have their marketing and franchise recruitment campaigns reviewed by a leading industry franchise marketing specialist from Coconut Creatives.
Whether you have an existing campaign that could do with an outside opinion or you are looking to start from scratch, why not book a place on the free clinic. Franchise Marketing Specialists from Coconut Creatives will be on hand during the day to share some handy hints and tips on creating a successful franchise marketing strategy.
Headed up by Chartered Marketer’s Sarah and Christopher Cook, Coconut Creatives specialises in servicing the franchise sector with marketing solutions. “Any franchised business has a much more complicated business structure,” explains Sarah Cook. “It is vital that all the stakeholders involved with the business are communicated with in a clear and consistent manner and this includes prospective franchisees. This is the key to a successful franchise recruitment campaign.”
“The workshops offer the opportunity for attendees to take away something they can implement back in the office and if they get stuck, they can pick up the phone and ask us a question,” explains Coconut Creatives founder Sarah Cook.
Spaces are very limited due to a small number of ‘Coconuts’ being available on the day for 30 minute consultations so it is advisable to pre-book your slot. By pre-booking, you will be able to send copies of your adverts and any marketing plans you are following to the Coconut Team, so that they can be reviewed before the day. This gives franchisors the chance to obtain more detailed feedback and to discuss some possible solutions.
For further information about Coconut Creatives services or to reserve a space on one of the forthcoming free clinics email Sarah Cook at sarah@coconutcreatives.co.uk or visit http://www.franchiseinfo.co.uk/fmc/ for more information about guest speakers at the conference.
With a broad client base covering most of the UK, Coconut Creatives experience is vast in achieving results within the filming sector, franchising, fine foods, fair trade and the leisure industry. Being active members of the Chartered Institute of Marketing and assisting the development of marketing throughout the south west region, their team has worked on projects with brand names such as Harry Potter, Sunseeker, Revlon, Raleigh & FitKid.
Coconut Creatives founder, Sarah Cook was approached by Business Franchise Magazine Editor, Alison Ledger to write a piece on best practice. The featured article focused on how franchisors can assist their franchisees in marketing, with a range of Coconut client examples used.
With the Glasgow Franchise show fast approaching, franchising is high on the public agenda. There is no wonder why, when it is said that 1 in 2 business start ups fail while the risk of getting into business by buying a franchise is significantly lower.
Coconut Creatives directors Sarah and Chris Cook were delighted to discover that the colour that represents the Coconut Creatives brand, has been named ‘Colour of the Year 2009’!
Pantone Inc declared that Mimosa: the bright optimistic yellow, that Coconut Creatives use, will be the colour of this year! Yellow exemplifies the warmth and nurturing quality of the sun, properties we humans are naturally drawn to for reassurance.
The Coconut Creatives team certainly believe in its qualities to cheer up any exhibition hall or event they attend!
This is the latest article published by Nick Strong at Select Your Franchise, friends of Coconut Creatives.
Enterprise Finance Guarantee or EFG has been released by the government to help the banks to fund small and medium size businesses. This is good news for everyone thinking about buying and building their own franchise business in the UK. EFG replaces the Small Firms Loan Guarantee scheme.
The Small Firms Loan Guarantee scheme capped lending to £250,000 and was very much focused on the small business. The government has identified that small and medium size business is in urgent need off access to capital at this time and has extended provision to medium size business as well as small.
Under the EFG scheme the government will guarantee 75% of any loans made, with the bank covering the remaining 25%. The guarantees will mean that the government, or taxpayers, will pick up three-quarters of the the tab for any bad loans.
In total, the Enterprise Finance Guarantee Scheme will see the Government provide £1 billion of guarantees to support £1.3 billion of bank lending.
At a recent British Franchise Association (BFA) forum of franchisors and franchise suppliers Launa Smith of HSBC franchise department shared the following information about the government’s new Enterprise Finance Guarantee scheme.
The Enterprise Finance Guarantee scheme could be the right solution for you if you are a business customer:
looking to increase your working capital
looking to start up, expand or diversify your business
Key features and benefits of the Enterprise Finance Guarantee scheme are that it is:
a government guarantee which secures bank loans to any viable business with a sound borrowing proposal
available for sums of £10,000 to £1,000,000 – a £10,000 minimum is available to limited companies and a £25,000 minimum is available to sole traders and partnerships excluding LLPs.
The loan can be repaid over any period between three months and ten years, individually negotiated interest rates choice of fixed and varied interest rates a quarterly premium is payable to the Department for Business, Enterprise and Regulatory Reform (BERR). The guarantee covers 75% of each qualifying loan. But for whom is the Enterprise Finance Guarantee (EFG) scheme available?
The EFG is available for you if your business has an annual turnover of less than £25,000,000. Your business must trade and be based in the UK. Your main business activity must be in a sector approved by the BERR and the purpose of the loan must meet the BERR’s eligibility criteria, for example:
starting trading – new start up funding carries a 1.5% premium
developing a project
expanding an existing business
purchase of equipment
business will not exceed the European Community State Aid maximum, as a result of taking out an Enterprise Finance Guarantee scheme.
The key objective of the EFG is to help provide liquidity and business development capital to existing viable companies. A comprehensive business plan is required when applying for an EFG loan via the banks.
Like in any sales cycle the franchise sales manager needs to understand the process of managing the buyer and the psychology of buyer. All franchise buyers are driven by aspiration and need. The balance will often be determined by the economy. In times of high employment and job stability buyer enquiries normally deliver high aspiration individuals. In times of economic uncertainty forced unemployment and redundancy often provides buyers who have find a new we carrier.
In both cases the buyer is motivated and looking for a better way forward for their working lives. This is especially so during times of a slowing economy. At such times hard working and productive people can loose their jobs though no fault of their own. When redundancy strikes the once loyal employee can move towards a future where their fait is in their own hands. Franchising offers just that opportunity.
When a buyer first approaches a franchise business he is usually looking for reasons to buy and move forward. The closer the buyer moves to the ‘close’ the more he will look for reasons not to buy. This is normal psychology. The cost and commitment required by the franchisee is huge. A franchisee may have to put his house on the line to buy the franchise so belief in the franchisor and their business system must be absolute.
This means that the franchise sales manager must treat the buyer with great dignity and respect. The sales manager must providing the buyer with clear information and support during the buying process. This will inform the buyer just how he expects to be supported should he become a trading franchisee. A good business system alone is not enough. The franchisee is a ‘disciple of the brand’ he invests his time, money and effort into. He must trust the franchisor and identify strongly with the system’s products, services and values.
The most important attributes in any successful franchisee are:
Enthusiasm
Hard working
Follower of the proven system
It is vital therefore that during the recruitment process the franchise sales manager has a clear path for the buyer to follow. The reason for this is to demonstrate that the buyer can follow a system effectively. Early failure or disagreements on behalf of the buyer should set alarm bells ringing for the franchise sales manager.
Selling a franchise is not like selling a product. It is more like the process that leads to a long term contractual commitment such as marriage. Both sides better make sure that they can and want to work together as separation after contract can be messy, time consuming and expensive.
When franchise sales is done well both seller and buyer can do very well. Franchise business added £13 billion to the UK’s GDP according the the Nat West BFA franchise survey of 2008. Franchise business grew five times that of the UK economy during the same period according to the report. This all happened because motivated franchisees followed the franchisors well developed business models enthusiastically and effectively.
Franchise business works for the franchisor, franchisee and their customers when they all believe in the system and in each other.
Franchise marketing specialists, Coconut Creatives has been involved in a number of exciting projects over the last year. Many of these projects could not be publicised due to confidentiality agreements, yet here for the first time, some details can be disclosed!
FitKid, who announced the launch of FIVE new franchisees just before Christmas is now entering its third year of working with Coconut Creatives. The Coconut team work with FitKid on a number of projects including franchise recruitment campaigns and franchisee training, to assist them in achieving their objectives and offer fun fitness classes to help combat childhood obesity.
This week, Coconut Creatives assisted FitKid to send out its ‘breaking news’ of its latest strategic partnership with the international brand LazyTown. Its creator Magnus Scheving, appeared live on BBC Breakfast to launch the new partnership between FitKid and LazyTown, on Wednesday 7th January.
Nicky, Managing Director of FitKid comments “We really enjoy working with Coconut Creatives because they understand what we want to achieve and offer such fantastic support. They are not only our franchise marketing arm; they have become good friends and trusted associates.”
Later this month, Coconut Creatives founder Sarah Cook and her colleague franchise marketing specialist Sally Butters will be speaking to the national franchise network for Spettro Ltd, at their first annual franchisee seminar in Birmingham. Spettro are now in their second year of working with Coconut Creatives and have helped take Spettro from 2 franchisees to over 20 in 12 months.
Jenny Smith, Co-director at Spettro comments “Sally and Sarah from Coconut Creatives have become very much a part of our team and part of our company. They have exceeded our expectations in pushing Spettro forward in so many ways and we are truly delighted with the progress that we have seen. We wholeheartedly recommend them, they are not only a delight to work with but extremely professional and knowledgeable in marketing and public relations.”
Just days after returning from her South African honeymoon in September ‘08, Sarah Cook was back on the plane, this time to Morocco on a site visit for franchisor client, Murcia Villas, a successful property management company based in Spain. This month sees the expansion of Murcia Villas with Resort Morocco and the first franchisee for Morocco is already on board and working in Saidia.
“Coconut Creatives assists us in our franchise recruitment, overall marketing and PR strategy. Quite simply we have been very pleased in the work they have carried out for us. There has been an absolute commitment from the start to understand our particular business, establish how we could improve on our brand awareness and assist in completing the objectives of our franchise recruitment plan. All of which was achieved in 2008 and therefore we look forward to continuing our business relationship with Coconut Creatives throughout 2009,” explains Hugh James, Director for Murcia Villas and Resort Morocco.
“We are honoured and delighted to be working with so many excellent and exciting franchise brands,” says Sarah Cook. “It has always been our goal to offer a professional franchise marketing service covering the areas of franchise recruitment, company branding and business development. And because we keep our consultancy fees low, our clients can afford to work with us over the long term.”
Coconut Creatives will again be offering free one 2 one consultancy clinics at this years Franchise Marketing Conference on the 17th September. For further information about Coconut Creatives services or to reserve a space on one of the forthcoming free clinics email Sarah Cook at sarah@coconutcreatives.co.uk
