Dual Branding Strategy & Franchising Business Plan – A Match Made in Dessert Heaven
Famous Brands, the parent company of TCBY and Mrs. Fields, recently began offering business entrepreneurs a two-for-one deal – buy a TCBY and get a Mrs. Fields free. While this offer is not entirely new in some business categories, the “dual-branding” innovation strategy (especially for two iconic brands) has accelerated the growth of the company.
Advantages of Dual Branding
- Maximize the Value of Brand Awareness – This is one of the biggest costs of building a franchise business. By effectively offering two well-known brands simultaneously, business owners can leverage marketing power and 90% brand awareness.
- Make Efficient Use of Space and Generate Savings – Locating two hot franchises in a single property permits more efficient use of space. The two franchises sharing a traditional or non-traditional space may be able to share costs that would otherwise have to be duplicated.
- Tap Into Buying Power – The dual brands are not only part of a nationally established company, but they are also part of an 880 store operation with significant buying power.
- Access Multiple Revenue Streams – In addition to TCBY and Mrs. Fields traditional revenue streams, Mrs. Fields offers Mrs. Fields Gifting Stations – part of a three revenue opportunity for franchise owners.
- Sell the Perfect Combination – The two products are in the same marketing category, so they can be co-marketed easily and effectively as part of the dual branding offer.
The TCBY & Mrs. Fields dual branding strategy provides a mix of revenue growth opportunities, significant brand awareness, and financial efficiencies rarely offered by a franchisor. This makes it the perfect business plan for any business investor looking to maximize ROI. Learn More