Sometimes succeeding in small business means building your brand and expanding into other areas. This was the case for Frisson Jewellers, a business with branches in Cramlington and Whitley. This family business added a new online component to their repertoire, along with a new brand and logo design. Here are few of the rules of adding a new brand to your company.
Get a distinct brand and logo design. Whether you choose to add an offshoot to your current brand or go with something completely different, your new venture will need an identity all its own. In the case of Frisson Jewellers, the owners decided to go with more youthful, internet friendly logo design and brand, with the logo design in lower case letters and a flame image replacing the ‘O’.
Consider specializing. Going into an entirely new business is rarely a good idea, especially if your current one is flourishing. Many business owners find success in going with an offshoot of their current industry, in this case a jewellery store opening a website dedicated entirely to watches. This prevents the problem of having two separate brands competing in the same niche.
Get help from experts. Frisson Jewellers collaborated with Business Link, a local agency that gives support and advice to small business owners in their area. Consulting branding and logo design specialists is also a good idea, as running two brands within one business can be a complicated affair. Because they consulted experts, Frisson Jewellers was able to seamlessly add another, very different brand without infringing on their core business.
Don’t overreach. While Frisson Jewellers had two locations in two different towns, opening yet another would have meant a significant investment of money and time, perhaps spreading the business too thin. Adding an online component required less upfront expense and could initially be run from an existing location. It’s important not to let new brands compromise the stability of the whole.
Market aggressively. Marketing is the key to getting the word out there, whether you are talking about a high street business or a web-based one. In the case of Hotwatches, this meant having a web designer create their site to be search engine optimized to maximize internet hits, along with a focus on turning those hits into sales. In this case, elisting the help of experts has paid off; while many business sites languish, this one had a steady flow of traffic from its very beginning.
For Frisson Jewellers and Hotwatches, this has been a recipe for success. While many businesses are letting go of staff, they have seen a sales increase of 15% and added three new staff to their formerly five person business. The website will soon be expanding their website to include new products. Frisson Jewellers has only been in business for thirty years, but it is easy to see their company continuing to grow if it continues to respond to market demand in new and creative ways.