Page 47 - RLI September 2019

SPECIAL FEATURE: FRANCHISING

What’s Next For Franchising? ranchising is a very complex area, but if the research
is done correctly and the right franchise opportunity
can be found, it is an area that can be very rewarding.
F Put simply, a ‘franchise’ is an agreement between two
parties which allows one party i.e. the franchisee, to market
The franchise space is experiencing rapid expansion and consumer trends are shifting while product or services using the trademark and operating method
technological advances are pushing franchisor boundaries. Here RLI focuses on the franchising of the other party, i.e. the franchisor.
The advantages and disadvantages of franchising are
sector, highlighting how best to grow a franchise in the digital era, what are the current key numerous, but in a nutshell, the greatest advantage of a
franchise system is that it reduces risk of business failure, and
trends and what the best examples of franchised businesses are in the world in 2019. the greatest disadvantage is the lack of independence it offers.

AdApt to digitAl todAy to EnsurE
succEss tomorrow
Chris Aston, Marketing Director at Auditel UK, asks, when is
the right time to embark on a full-scale brand transformation
project? Do you wait until market pressures force you to
change or do you take a more forward-thinking approach to
revitalise your brand ahead of inevitable change? He argues
that they chose the latter because it is the only way for even
well-established brands to secure their position as pioneers
and leaders in a transformed business landscape.
“Digital transformation is the fourth industrial revolution.
It’s quite literally the way of the world now and isn’t
something any brand can ignore. Digitisation is impacting
every element of every business. If you disagree, you’re
not looking in the right places. For those operating in any
market, not just the B2B space, it’s no longer about ensuring
future solutions are like-for-like. It’s about understanding the
right requirements of the future: technology, sustainability
and longevity are intrinsically linked. For our franchisees at
Auditel, this means identifying which suppliers are offering
greatly enhanced digital platforms as solutions so our clients
can make a step-change in their business,” explains Aston.
The challenges faced during any brand evolution – be
it rebranding, introducing a new product or services or
redefining service offerings and client relationships – is
keeping everyone happy.
All organisations are at risk of a competitor innovating quicker
than they do or new entrants coming into the market with
advanced offerings. Managed well, innovation and evolution can
reinvigorate even the most established of brands.

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