How much should one charge a restaurant franchise to manage their social media?
I'm currently in talks with a restaurant franchise that is slowly growing with 6 restaurants and will have a total of 12 by the end of the year. However, their social media is almost non-existent. I have targeted the owners for a few weeks and when I walked into their headquarters today, they took the time to sit with me. It is now between my company and a PR firm, that has been in business for a while. What price range should I stick to without overcharging them and potentially losing them? I really do believe they have great potential, their food has already sold me as a customer. Please help, I would like to send the proposal over the weekend.
Thanks for the help!
You're a lucky duckling right now because if you can talk the talk (later prove you can also walk the walk), the ball is in your court - to an extent. First of all, we're talking corporate and franchise, not smaller businesses. What is the first thing that comes to mind in your situation? Corporate has the dollar figure to work with and they will often splurge on things if they feel it will increase their overall profit margin, brand, reach, and essentially positively influence their company in a very good (and profitable/growth encouraging way). You've sold yourself if you hit those spots. It's the "Jerry McGuire" movie - you had them at "profit increase and company growth."
This will be a huge endeavor to embark on, so you want to truly consider the size of the project (how many people will be working with you/for you?) and the fact that it is already rapidly growing. Imagine if your fine-tuned pitch plants the seed of further, rapid growth? Bingo. You're incredibly valuable all of a sudden. You've got their full attention.
My talent manager and I often go a bit higher with corporate events, projects, etc. Number one: They have the budget to go higher (and there are no worries about feeling undervalued for your project/work). Number two: Most corporations know that whether it's advertising traditionally, posting a job ad, getting things printed, etc. cost money and often they expect to pay abundantly, for great service/product.
I say (as my talent manager and I do), roll the dice and use this as an opportunity to "raise your worth" as well. Once you charge a certain amount for a certain project (size, type of work, etc.), it sets your precedent in terms of price.
You're WORTH it, Carolina. My essential advice to you? Know your worth and charge accordingly.
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This looks like a large endeavor. You'll essentially be starting from scratch and there will be a lot of moving parts. In addition, because the whole concept is new, you may need to prepare for some form of pushback or at least having to justify why the franchise needs social media. I say this because social media is fairly well proven in the restaurant biz. For a franchise to be adopting now might mean they were reluctant to adopt it. Of course, you know these people better than I do.
According to The Community Roundtable, average salaries are $80 - 100k for community managers. See: https://communityroundtable.com/community-careers-and-compensation/trends-in-community-management-careers/
Salary.com says a social media manager (no location specified) makes on average around $97k. See: https://swz.salary.com/SalaryWizard/Social-Media-Communications-Manager-Salary-Details.aspx
So the figures are comparable.
Will you be a one-woman show? Will you have staff? Who will you be reporting directly to? What kinds of results are they looking for in 3 months, 6 months, a year, 5 years?
If they are also considering a PR firm, then my guess is that they are looking for the role to be a spokesperson one, and maybe also to deflect and handle customer complaints or even major PR crises. These can take a lot out of you.
In any event, what I am saying is that you will need to present hard numbers and I agree with Michelle Arbeau that you might want to go higher because I suspect you could.
But please check what the figures are in your area/industry! If you come in with $120k but the area only supports $75k, then I don't want that to happen to you.
So see what the local market will bear - and then add 20 - 25% or so.
Best of luck to you!
This will be a huge endeavor to embark on, so you want to truly consider the size of the project (How many people will be working with you/for you?) and the fact that it is already rapidly growing. Imagine if your fine-tuned pitch plants the seed of further, rapid growth? Bingo. You're incredibly valuable all of a sudden. You've got their full attention.