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How to Outsmart Your Franchise Competition

  • July 29, 2015
most profitable franchises to own competition

Have you ever wondered, “Should I open a franchise? And if so, “What are the most profitable franchises to own?” Well, you can put your questions to rest with the Great American Cookies franchise. Great American Cookies offer mouthwatering desserts, innovative creations, and the chance to own an amazing franchise.

As one of our favorite franchises to own, Great American Cookies knows just what to do to outsmart the competition. Here are a few steps we follow to guarantee a good business:

Step 1: Identify Your Competition

Do you know who your competition is? The first important step in outsmarting your competition is identifying the franchises you’re competing against. How can you outsmart these competing franchises if you don’t know who they are? You can’t be one of the most profitable franchises to own without doing a little research.

Step 2: Formulate A Plan

Once you’ve identified who your top competitors are, decide what you need to do to compete with them. Do you need to change your prices? Offer more deals?  Choose a few areas you could improve on to make your franchise more appealing than the ones around you. Remember, competitors are both local and national.

Step 3: Take Action

After you’ve made a game plan, it’s time to get started. Try to follow your game plan as best as possible, but be prepared with a backup plan if things don’t work as well as you’d hoped. As you start taking action, make sure you take copious notes about any changes or improvements you see. Keeping track of your progress is one of the most important steps in outsmarting your competition. Track sales to see what drives the highest customer engagement, higher ticket sales, and great transactions.

Step 4: Evaluate and Regroup

Once you’ve made these changes and implemented them for a decent amount of time, it’s time to evaluate your progress. Has your franchise improved? Do you feel like you’re getting ahead of the competition? If you need to make some improvements, go ahead. Reformulate a new plan and try again.

Start following these steps today and you’ll be outsmarting your franchising competition in no time. Visit our website and download our free brochure to get even more ideas on how to become the best franchise in town!

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