The FIPS (Federal Information Processing Standards) are geographically placed codes that hold within them the subtle information that is used to facilitate the process and exchange of any said geographical location information. The FIPS Codes appear as 5-digit codes...
The franchise business faces many challenges for profitable growth. The industry has gathered piles of information and data in various systems and spreadsheets, but it becomes challenging to consolidate all that to give informative and useful insights that are needed....
Franchise territory mapping takes real science to achieve success. There are a lot of misconceptions attached to the very idea of franchise territory. Most of the people who have some knowledge in this field believe that expanding your area will solve all your...
Franchise territory success starts with crafting potential territories and identifying opportunities for higher sales performance. Territory balancing can launch new areas of almost equal marketing value, plus reorganize regions that already exist and redirect efforts...
The use of big data has become extensive worldwide. It has implications for nearly all industries. Marketers especially use mass data to reach out to a broader segment of their target audience. One of the best and recognized ways to use and leverage location data is...
Franchising your business is a great way to expand quickly and increase sales, but the real question lies in the resulting success or failure. Whether or not franchising will be successful depends on you and your business model.These are some of the practices that can...
Before opening a franchise in any area, it is necessary to do proper franchise territory planning. Franchising is all about expansion of a company or business. It is a profitable business model that depends on how the plan is done for the development which determines...
A franchisee wants to feel protected, that their territory and market are safe, and provide the expected returns. The only way to put safeties in place regarding a franchisee’s territorial rights is before they sign the Franchise Agreement. Franchisors may offer...
When it comes to retail site selection, comprehensive research will yield better results than guessing. In this competitive market, making a name for your business and attracting new customers is exceptionally challenging. No matter what products you offer or the...
Before someone buys or sells a franchise, a common practice is to define the franchise territory. According to the one study, above 90% of the successful business franchises use the concept of establishing territory. There is no single method for dividing...
An expanding business that franchises will allocate a specific area franchisees may operate. The allocation of franchise territories plays a vital role in the market segment and customer base to which a franchisee can sell. Thus, the task of allocating the franchise...
