Whenever the topic of franchising is brought up, fast food chains immediately come to mind. Understandably — there are over 200,000 fast-food locations currently in the United States, making up a large portion of the franchise space. Nevertheless, some of the big chains are starting to disappear and B2B franchise opportunities like PIRTEK are becoming more appealing investors. Why? Well, let’s go over the disadvantages of a B2C franchise, how a B2B business capitalizes on our consumer relationship, and what you should know about picking the right franchisor.
Where Fast Food Franchises and B2C Businesses Struggle
One of the greatest pain points for B2C businesses is the inability to keep up with industry trends. It’s not easy to predict how the public will receive a product or how they will relate to your brand years in the future. When you place the purchasing power in the hands of the larger public, the results can be fickle. No matter how hard you try to update your product or get ahead of trends, customer loyalty isn’t a guarantee. Since there are already many fast food franchises, new owners struggle to contend with existing competition. These are just some of the struggles that B2B franchises like ours have the luxury of avoiding.
Importance of Building Valuable Relationships
Customer loyalty and retention play an important role in the long-term success of any kind of business. B2B businesses benefit from a smaller customer base that is easier to control and understand. Business-to-business transactions are also typically fulfilled on a contractual basis. This is not just a huge advantage for business owners worried about recurring revenue, but also for customer satisfaction. Once a contract is agreed upon and signed, the supplier is able to focus on the best ways to fulfill the client’s needs. As a supplier, you are also able to grow a productive business relationship with your client in order to learn more details about the client’s situation. The customer makes it possible to keep your operation going, therefore, having this kind of relationship is a major advantage for B2B owners.
Finding the Right Franchisor
If you are interested in franchising but haven’t found a franchisor, you should first think about what industry you’d like to enter. B2B businesses are usually called upon to address a specific concern, therefore, you should make certain the franchisor you choose is a leader in their industry with a reputation for getting the job done right. PIRTEK has a long history of finding hydraulic replacement solutions for our clients, and our franchisees receive the proper training to accommodate all needs. We have grown that reputation for over four decades — our clients know to expect professional services and effective results when our repair vans arrive on-site.
Your franchisor should appreciate that consistent communication improves everything about their service. In any business relationship, trust is vital. A strong B2B business opportunity should value the role a customer plays and do everything to accommodate their evolving needs. PIRTEK works closely with each of our clients to build relationships for the long term so our clients know that we are here to help them eliminate potential downtime. We also try to understand their systems fully and familiarize ourselves with what custom parts they might need ahead of time. This has helped us move along the repair process and get our clients’ equipment up running with speedy results.
Are you interested in learning more about our B2B franchise opportunities? Feel free to get in touch with us today!