Many years ago, a favorite cousin decided to open a pizza shop. Everyone told her that she made the best pizza in the world - and she did! Even though a pizza shop is a great business idea, I just wish I could have convinced her that the public doesn't want to buy "the best pizza in the world".
The public wants to buy "the most convenient pizza in the world," which is why there are so many pizza shops. When people are hungry for pizza, they don't want to wait!
Too Few Buyers
Unfortunately for my cousin, she lost everything to her great business idea. But it wasn't because people didn't like her pizza. They loved it! It's just that not enough people bought her pizza.
What really sunk her business was her marketing plan.
She invested huge chunks of money in the wrong marketing tactics.
For example, she thought ads in the Sunday newspaper would make the phone ring. They did, but not enough to justify the cost of the ads.
She either didn't know about door hangers - which actually do sell pizza for a fraction of the cost of other advertising - or she considered them unworthy of her product.
I understand, but I wish I didn't.
Listen to the Public
People often complain that franchises have dumbed down product quality. Even if that's true, the public isn't complaining!
And that's what you need to understand about business ideas and franchises. Selling "the best" of anything isn't necessarily the goal, at least not anymore. But less than the best doesn't mean it's bad, either. It just means the public has spoken. And you need to listen!
Marketing is the key that unlocks the vault to the public's desires, and money. And the franchise company that understands that is a contender for your investment dollars!
And now that I've spoken, I'm calling my favorite franchised pizza shop . . . I know they listen!
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