Hi, this is Greg. Look for my book The Agile Brand on Amazon or on my website at the

agile. World.

Welcome back to the Agile World Podcast. This is Greg Kilstrom. In the last episode I talked about one of the

reasons why we brand. It's for differentiation and competitive advantage. Today I'm

going to talk about how creating a great brand creates value for the organization in and of itself.

One way this is done is in the franchise world.

I did a fair amount of work for a franchise organization over the years and learning a fair amount about that business,

there's several different components to it. There's a franchisor, which is a company like a 711 or a McDonald's, something like that, that needs to create value and is really looking for franchisees, which are small business owners essentially, which need to make a decision, do they create their own company from scratch? Do they create their own brand, build all of that, put a lot of time,

put a lot of equity into their own custom brand, or do they adopt an existing brand? When they adopt an existing brand?

When they adopt an existing brand, there must be a reason why, right?

It's because that franchise or, that large company with lots of different locations all around the country the world the region

They've put a lot of time and effort into building equity in that name and that logo

So again when you're driving down the street and you see a recognizable name, you go there.

You might go to a 7-Eleven over an unknown convenience store because you've seen it you know what to expect.

All of that is equity in a brand.

All of that is really based on a lot of things.

It's based on that consistency of the brand, it's based on

a consistent customer experience, it's built sometimes on longevity, just being known and being seen over time.

Another way to look at it outside of the franchise world is in things like merchandise.

So, for instance, a friend of mine from college actually collects Coca-Cola memorabilia.

So this is stuff from I don't know exactly how long Coca-Cola has been around but let's say

over a century there's a lot of different items and

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