Going into Your Own Franchise Business: A Mind Genomics Exploration

Abstract

Some years back, the authors were introduced to the International Franchise Association (IFA). The issue was raised as to how the emerging science of Mind Genomics might help the IFA to better understand the mind of the person contemplating involvement with a franchise. In response, we did a study to investigate the drawing power to franchises of elements. Our target population comprised people who were not currently franchisees, but who might be with the right messages. Mind Genomics deconstructed the current messages of franchises, and then recombined these by experimental design, tested among these non-franchisee prospects, only to reveal that many of the commercially uses messages do not motivate. Mind Genomics revealed that the appeal of franchise ideas could not be optimized for the total population as a single cohort, but only for the different mind-set segments ready to accept certain types of messages. The first mind-set could be characterized as You won’t have to go it alone respond to messages with this theme . The second mind-set segment could be characterized as You’ll be secure responds most strongly to one message that promises that. The third mind-set segment t responds to messages with the theme: You can run your business better. This group comprises a quarter of the respondents and constitutes the target group for franchising.