One of the most important factors in keeping costs low for a convenience store rebrand is planning. Effective planning might be the single biggest thing that will determine if you come in at, above, or below budget. In this post we will share some of the most significant factors to consider when rebranding, as they relate to cost, so you can more efficiently move forward with your project.
1. Determine the C-Store Rebranding Project Scope
The initial move in economizing your rebranding process is to pinpoint what you aim to accomplish. Fundamentally, avoiding unnecessary expenses on unproductive endeavors is a surefire way to save money and time.
Broadly, rebranding a gas station or convenience store can be categorized into three groups:
Logo Redesign
This implies a subtle tweak to your brand’s appearance without altering its core ethos. It’s about revamping the aesthetics, potentially with minor adjustments to services. This is ideal for businesses looking for a brand image uplift.
Brand Revamp or Refresh
This is a more profound transformation that addresses shifts in business strategies and objectives. If your brand feels antiquated or has surpassed its former vision, a revamp could be a beneficial move, but it will entail meticulous planning and research.
Complete Brand Makeover
This is the most extensive rebranding scale and implies severing ties with the previous brand identity. This method is typically chosen when looking to completely reposition a company and/or if they are facing serious brand issues.
Choosing the appropriate scale of rebrand is critical to managing costs. Sometimes, a mere redesign can work just as well depending on your end goal.
2. Allocate a Realistic Financial Plan
Having a clear financial blueprint is pivotal for managing costs. By gauging expenses and allocations, strategic decisions become easier.
Primarily, a budget aids in discerning tasks to be managed internally versus those requiring external expertise. Assessing costs of in-house rebranding against external agency charges (gather multiple quotations) will offer clarity on the most cost-effective route.
Moreover, involve your clientele. Solicit feedback on desired changes and then align your budget accordingly. Avoiding unnecessary alterations based on their insights can be a direct cost-saving.
3. Account for Legal Needs
Rebranding can incur legal and license expenditures. Trademarking your novel logo, acquiring fonts, or other copyrighted materials are prime examples.
Recognizing these potential charges enables informed choices about indispensable and avoidable costs.
4. Establish a Rollout Schedule
An effective timeline is paramount to keep costs in check. The ripple effects of rebranding on C-store business operations necessitate strict adherence to a schedule. In its absence, ambiguities might arise, leading to setbacks and financial drains.
5. Create Templates & Processes
In many cases, your store locations might have similar layouts, signage, graphics, and decal requirements. Therefore, if you can standardize as much as possible then the total cost of the rebrand can be much lower as you are able to efficiently design and manufacture any updated visual store elements.
6. Collaborate with a Rebranding Specialist
While hiring a rebranding firm implies an upfront cost, the long-term benefits can outweigh the expenditure. These agencies specialize in optimizing your brand, consequently enhancing profitability.
For instance, if you’re inclined towards emotional branding, which resonates and inspires, but lack the in-house expertise to cultivate this, an agency’s seasoned perspective is invaluable.
Engaging with a rebranding agency ensures a holistic approach, unifying research, strategic planning, and creativity.
Plus, with the agency being a 3rd party, it can make it easier to gain approval from multiple stakeholders at the company, especially if it is agreed upon beforehand that a decision must be made and accepted by a certain date.
These are a handful of easy ways to make your C-store rebrand cost less, be more effective, and go smoother.
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