Advertising Funds – Part II

Last week I posted a short opinion discussing advertising funds and the benefits and drawbacks associated with them (as it relates to franchises, specifically). One of my responses asked about a start-up franchise vs. a more established brand and it sparked me to pull some information from our research.

We've polled over 40,000 franchisees from 320+ companies and asked them
about the importance of marketing in their businesses. I can report the
following results:

When franchisees are asked about their marketing skills, they answered
with the following (answers add up to less than 100 percent because
some chose not to answer):

excellent – 16.19 %

very good – 32.85 %

average – 36.70

poor – 5.93 %

However, when asked how important having
marketing knowledge
for their business is, they answered:

critical – 49.27 %

important – 33.48 %

helpful – 8.43 %

not needed – 0.48 %

So while 82 percent say marketing is a
critical or important skill to know, only
49 percent say they have
very good or excellent skills. 

As I'm sure many young entrepreneurs have discovered, navigating the crazy world of marketing is time consuming and tracking the results is even tougher. My first, and most important words of wisdom are the be sure whatever you spend on marketing, you can track the how well the money is spent. Secondly, review your marketing spends very regularly, even if it's only for a few minutes a day. It's easy to let a Google PPC campaign get out of hand if you move that decimal point one way to the right.

Jack Burris is Vice President and Partner with Franchise Business
and is also a regular contributor for Startup Nation's Franchise
Business Coaching Blog. You can contact him directly at

Previous Article
achieving potential

The Free Rider Problem

Next Article

Pimped Out Search Functionality

Related Posts
supply chain
Read More

How to Keep Vendors and Clients Happy During Supply Chain Hiccups

Supply chain breakdowns are happening due to global disruptions, rising costs and increased consumer expectations. Businesses can't always stop supply chain hiccups, but they can learn from them and limit their impact on vendors and clients. How a business responds to a supply chain issue can have far-flung effects. A company that is proactive and...
Read More

WJR Business Beat: Win $10,000 Grant Through Verizon Program (Episode 410)

On today's Business Beat, Jeff provides details of the Verizon Small Business Digital Ready program, including free resources, coaching and $10,000 grants to get your small business up and running. Tune in below for more details:     Tune in to News/Talk 760 AM WJR weekday mornings at 7:11 a.m. for the WJR Business Beat....
pitch your business idea
Read More

How to Pitch Your Business Idea to Startup Investors

Securing funding, whether for a startup or an established business, is not an easy task. A strong startup concept won’t be enough when approaching investors; you'll also need an exceptional pitch to sell it. Let's look at what defines a startup pitch, a few different types, and how to create a fantastic one for your...
home-based businesses
Read More

The Value of Home-Based Businesses to Economic Recovery

The challenge of America’s economic recovery, in the wake of the COVID-19 pandemic, is to spread it to every community – and especially those that have been historically excluded. The key to meeting that challenge is to appreciate the civic and economic value of an overlooked resource: home-based businesses. There are about 16 million home-based...