Sometimes we overlook the most important things. We make assumptions, we ignore what we don’t directly control, and we move on to what’s next.
Let’s say you are a growth retailer or an accelerating franchise brand. Every physical location is critical to the business and reflects the viability of your value proposition. Success is an example and leads to momentum.
We put so much work into selling the brand, from finding franchisees, creating marketing demand, dissecting markets to find the perfect location, and getting the doors open. These functions are clearly defined in the organization.
Yet, one of the most important actions doesn’t have clear accountability: grand openings. They tend to be loosely owned as a secondary function, but they may be the first and only chance you get to make a great impression with new customers. Do you really want to take the risk of inviting people to a bad party?
Here’s a stat: A strong grand opening can increase sales by 50% for the first year. 50%. Think about that.
Isn’t that worth significant focus? I’m not necessarily talking about more money; I’m talking about a consistent, measurable process of execution that can be measured against a comp. I’m talking about creating a grand opening strategy that dramatically increases the chance of success for every location.
It may be worth finding a company that does this for a living. Bring them on to help coordinate and execute while everyone else can focus on their day jobs. If you look for a partner, consider these points:
Do they understand the importance of brand consistency?
Each grand opening is a reflection of your brand. Have you ever been to an opening, and you don’t recognize the color scheme or there is a DJ playing odd music? Have you ever cringed at some of the swag being handed out because it isn’t the right logo? Yup. We all have. Find a partner that gets it and will always work toward consistency.
Can they juggle cats in a way that is repeatable?
A great partner can do it all seamlessly. They can drive traffic, manage the process from start to finish, staff, design merchandise, make sure the VIP is at the ribbon cutting, troubleshoot on the spot, and analyze the results. They can do this repeatedly and improve every time. That’s what you are looking for.
Can they represent you in a way that ensures the lowest costs for the best events?
When events are not consolidated, costs can get out of control, or you get less for the same dollar. Every partner in the event needs to know that someone is paying attention. That is critical.
Can they scale in a way that recognizes each market?
You want brand consistency, but it’s OK to add some local flavor. Being part of the community is important. You want someone who can scale nationally, but also think locally. You not only want a great opening, but you also want local buzz in the community. This is not only possible, but also a key factor in building momentum.
Have they done this before?
Find someone who has been there and done that-someone who has learned from mistakes, improved, and found a way through. If not, you might as well do it yourself.
A grand opening may be the first and only impression customers have of your brand. It may also be the first impression of a prospective franchisee. Make it count. If you find the right partner, it’s worth every single penny.