Branding is one of the most underrated services in the franchise industry. As a franchise development company, Rhino 7 is deeply committed to making sure that every facet of an emerging brand is being served, but we put special attention on branding by investing in state-of-the-art electronics sales tools to help brands properly investigate how their product, service or business will be perceived by potential customers.
That said, experts in our field believe every franchise should go through some kind of rebranding every seven to ten years, and that’s without special circumstances that might trigger the process more immediately. Let’s take a quick look at the rebranding process and some famous examples that illustrate the benefits and perils of rebranding.
Why We Rebrand
There are lots of reasons to rebrand a franchise but the process shouldn’t be taken lightly. It’s expensive, time-consuming and, for some major franchises, can result in mistakes that lose tens or hundreds of millions of dollars in revenue.
- Refreshing your franchise company’s public image to reflect modernity or authenticity.
- Creating a new way to differentiate your company from the competition.
- Eliminating or improving a negative image.
- Solving a corporate crisis involving self-image or other aspects of the business.
- Serving a franchisor’s legal obligation to keep the business up to date, not only in products and services but also in the image they project to the public.
What is Most Important During Rebranding?
There are dozens of factors involved in the rebranding process. Complete rebrands destroy valuable intellectual property such as trademarks and logos, making them worthless. We need to know how a rebranding will affect not only current customers but potential new markets. Most of all, we need to understand the problem we are trying to solve and apply a disciplined, innovative business strategy to attain the expected results.
However, at the end of the day the most important thing you should remember is that the key to rebranding is communication. The only constant is change, and franchisees are better equipped to manage change than most entrepreneurs, but it’s still a significant change to their business that could, and should, affect their bottom line. The key message that all franchisees want to hear is how the new branding will help grow their businesses, attract customers, and help them succeed.
Some Prime Examples of Rebranding
- 2008: Popeye’s Chicken changes their messaging from “Chicken and Biscuits” to “Louisiana Kitchen.” The company instantly added history, heritage, a sense that the business made real food for real folks. This heavy dose of authenticity helped the Georgia-based chain to upgrade its image and boost sales.
- 2012-2013: Wendy’s modernized almost everything about its business including its logo, packaging, uniforms, menu and location prototypes. Franchisees could have freaked out but the company provided a $100 million credit facility to finance franchisees who wished to upgrade their locations to the new standards.
And Some Branding Blunders