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5 Best Ways To Market Your Local Franchise Business

This article will introduce you to five best ways to market a local franchise business. Local franchise business playing an important role in the country’s economic development.

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Market Your Local Franchise Business

When you have a franchise business, you are a part of a larger network of similar businesses, yet at the same time, you are located in a certain area with unique characteristics. This makes a franchise a unique business: global, national or regional, yet local at the same time.

To market the business successfully, you want to use all the advantages that you have. This article will introduce you to five ways to market a local franchise.

1. Use the power of association

Typically, a franchise business has a proven business model, systems, and processes, and has been around for some time. You want to use all of this in your advertising. Point out how long the company has been in business, how many happy customers it has, and whatever other benefits and values it brings to the marketplace.

All of these are elements that non-franchise businesses in your area will most likely not have. Many franchises sponsor national and regional sports events and this allows you to talk to fans in a way that businesses with one location simply can’t use.

2. Use the power of local

At the same time, a franchise is located in a local area and you should be using this fact, too. You can create joint ventures with other local businesses and become an expert in your field, no matter what the field is.

For example, if you have a coffee franchise, you can run a survey of the residents about their favorite coffee flavors in the summer versus the winter and get free publicity by talking about the coffee tastes of people who live in your geographic area.

You can also use your brick-and-mortar location as a hub for your customers. If you have a lot of parents with kids as clients, you can organize events for parents and kids.

Last but not least, it is critical not to overlook your local online presence. To promote your franchise locally, it’s important to use all the benefits that digital marketing provides. To ensure that your franchise has successful local marketing campaigns, make sure that the franchise CMO uses solutions such as franchise marketing software to overcome all of the challenges of local advertising.

3. Build a list of customers and prospects

Your company will likely be running its marketing campaigns, but the issue with these campaigns is that the company simply has to create campaigns that will work for all the franchises, which means that the campaigns by definition will be generic.

You run the business in your area and this gives you unique insights into your customers and their preferences. For this reason, one of the best things you can do is build a list of your customers and prospects and market to them directly.

Local Business Franchise

To get started building a list, you need to create an attractive offer that you will give to your customers when they provide you with their information. Other franchise owners may have tried such offers and know what works and what doesn’t.

Ideally, you would like to have as much information about your customers as possible, including email addresses, phone numbers, and physical addresses. Having this information would allow you to market to prospects in several ways, including email blasts, direct mail, and ringless voicemails.

4. Follow up

As a company that combines the power of local, regional, and regional sources, you have a lot of opportunities to follow up with unique, interesting content and offers.

You can talk about what is going on in your area locally, yet at the same time, you can tie your name to the big names that your franchise works with.

You may think that the connection between you, and, say, a national league that your franchise is sponsoring, is far-fetched, but you need to remember that your customers will not be comparing you to someone close to the league or team.

They will be comparing your connection to their own and it is most likely that your connection is much stronger and more real than theirs.

5. Use marketing methods that your competitors are not using

Today, there are lots and lots of marketing methods that a business can use to promote its products and services. There is search engine optimization (SEO), paid search ads, Facebook ads, Facebook pages, Yelp, Google Reviews, GMB reviews, LinkedIn, direct mail, TV, radio, and much more.

Do not try and use anything and everything. Be strategic about what methods you use to market your services. While it may seem that a new website or online platform is coming into existence every day, the phone can still be an effective marketing tool.

One of the somewhat new technologies that you can use to market using phones is called ringless voicemail. The technology leaves voice messages without making calls directly, which means that it doesn’t annoy customers. This is one of the reasons that ringless voicemail is not the same as telemarketing.

With ringless voicemail, you can notify your customers about upcoming appointments, events, and special promotions. You can also drive prospects and customers to a website, ask them to call you back, or put them through an Interactive voice response (IVR) to make them qualify themselves.

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Business

Navigating the Process of Selling Deceased Estate Shares

This article aims to provide a comprehensive guide to selling shares from a deceased estate. Process of Selling Deceased Estate Shares.

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Navigating the Process of Selling Deceased Estate Shares

1. Understanding the Basics of Selling Deceased Estate Shares

Dealing with a deceased estate can be a challenging and emotional process, especially when it comes to handling financial assets like shares. This article aims to provide a comprehensive guide to selling shares from a deceased estate.

2. What are Deceased Estate Shares?

Deceased estate shares refer to the stocks and shares that were owned by an individual who has passed away. These shares become part of the deceased’s estate and are subject to the terms of their will or estate plan.

3. The Importance of Valuing the Shares

The first step in selling deceased estate shares is to obtain a current valuation. This valuation is crucial for several reasons: it helps in distributing the estate among beneficiaries, it may be necessary for tax purposes, and it gives an idea of the market value of the shares.

4. Legal Requirements and Executor Responsibilities

The executor of the estate plays a pivotal role in the management and distribution of the deceased’s assets. This section will cover the legal responsibilities and steps the executor needs to take to lawfully sell the shares.

5. Obtaining Probate

Before any action can be taken with the shares, it’s often necessary to obtain probate. Probate is a legal process that confirms the executor’s authority to deal with the deceased’s assets.

Transferring Shares into the Executor’s Name

Once probate is granted, shares may need to be transferred into the name of the executor. This process varies depending on the company and the type of shares.

6. The Process of Selling Shares

After completing legal formalities, the executor can proceed with selling the shares. This section will outline the steps involved in this process, including choosing a brokerage or financial service, understanding market conditions, and making informed decisions.

Deciding on the Right Time to Sell

Timing can significantly impact the returns from selling shares. Executors need to consider market conditions and financial advice to determine the best time to sell.

Completing the Sale

This subsection will detail the actual process of selling shares, including placing orders, handling transaction fees, and ensuring all regulatory requirements are met.

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7. Navigating Tax Implications and Reporting

Managing tax obligations is a critical aspect of selling deceased estate shares. This section will explain the potential tax implications and the importance of accurate reporting for both capital gains tax and inheritance tax considerations.

Understanding Capital Gains Tax Responsibilities

When shares are sold, any profit made from the time of the deceased’s passing to the sale date may be subject to capital gains tax. Executors need to be aware of these implications and plan accordingly.

Inheritance Tax Considerations

In some jurisdictions, the value of the deceased estate’s shares might impact inheritance tax calculations. It’s essential for executors to understand these aspects in order to ensure compliance with tax laws.

8. Common Challenges and How to Overcome Them

Selling deceased estate shares can present unique challenges. This section will discuss common issues such as disputed wills, fragmented information about the shares, and market volatility.

Dealing with Disputed Wills and Beneficiary Disagreements

Disputes over the will or disagreements among beneficiaries can complicate the process. Executors must handle these situations delicately and legally.

Managing Market Volatility

Shares can be subject to market fluctuations. Executors should be prepared for this volatility and may need to consult financial advisors to navigate these waters effectively.

9. Tips for Executors Handling Deceased Estate Shares

This section will provide practical advice for executors, including the importance of seeking professional advice, keeping thorough records, and communicating clearly with beneficiaries.

Seeking Professional Financial and Legal Advice

The complexity of selling shares from a deceased estate often necessitates professional advice. This can range from legal counsel to financial advisory services.

Record Keeping and Communication with Beneficiaries

Maintaining transparent and thorough records is crucial. Executors should also prioritize clear and consistent communication with all beneficiaries to avoid misunderstandings.

Conclusion

Selling shares from a deceased estate is a responsibility that requires careful attention to legal, financial, and interpersonal dynamics. By understanding the process, staying informed about tax obligations, and tackling challenges head-on, executors can fulfill their duties effectively and respectfully.

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