Is a Bombs Away franchisee required to develop a market introduction plan?
Bombs_Away Franchise · 2024 FDDAnswer from 2024 FDD Document
- 9.6 Market Introduction Plan. Franchisee must develop a market introduction plan and obtain Bombs Away Franchising's approval of the market introduction plan at least 30 days before the projected opening date of the Business.
ARTICLE 10. RECORDS AND REPORTS
10.1 Systems. Franchisee shall use such customer data management, sales data management, administrative, bookkeeping, accounting, and inventory control procedures and systems as Bombs Away Franchising may specify in the Manual or otherwise in writing.
Source: Item 22 — CONTRACTS (FDD pages 35–36)
What This Means (2024 FDD)
According to Bombs Away's 2024 Franchise Disclosure Document, a franchisee is indeed required to develop a market introduction plan. Specifically, the franchisee must create this plan and secure approval from Bombs Away Franchising at least 30 days before the business's projected opening date. This requirement ensures that each new Bombs Away location has a well-thought-out strategy for entering its local market.
Bombs Away also provides assistance to franchisees in the planning and execution of their market introduction plan. This support can be invaluable, especially for new franchisees who may not have experience in developing such plans. The franchisor's expertise can help franchisees avoid common pitfalls and maximize the effectiveness of their initial marketing efforts.
In addition to developing a market introduction plan, Bombs Away requires franchisees to spend at least 5% of their gross sales each month on marketing the business. This ongoing marketing commitment, combined with the initial market introduction plan, highlights the importance Bombs Away places on consistent and strategic marketing efforts to build brand awareness and attract customers. Franchisees must also furnish proof of compliance with the marketing spend requirement upon request.