- May 20, 2016
- Posted by: Strategic Franchise Brokers
- Category: News
When you offer a franchise model as a new franchise system, it takes a consistent outbound marketing effort to drive traffic and create awareness for your brand. Many new franchise systems don’t understand the importance of consistent marketing to create a deep pipeline of franchise candidates. Generally speaking a new franchise brand requires as many as 200 or 250 leads to find a franchise sale. As franchise brands mature, the dynamics change and the sales process becomes more focused on qualifying leads rather than pulling franchises into the sales funnel.
At Strategic Franchise Brokers, we believe in a specific set of processes in order to appropriate define a franchise model that will effectively recruit good franchisees.
- Define your buyer profile – put down on paper the necessary skill sets, capital requirements and overall franchise buyer qualifications needed for someone to successfully implement your business model as a franchisee.
- Have the correct collateral materials needed to market and sell a franchise. A good franchise brochure, franchise webinar presentation, franchise website and franchise evaluation forms needed to market the franchise concept and qualify the franchisee as a potential buyer.
- Have a plan for how you will approach the market and how you will generate leads. Different franchise systems have different ways to approach the buyer.
- Build a Budget for your franchise lead generation, typically franchise leads cost $15 – $50 per lead. Depending on your sales goals and unit targets, the budget for franchising should be typically pretty easy to define.
- Have a good franchise sales system in place to manage the leads and implement your franchise recruitment process, a good franchise CRM is critical to being able to get a return on your franchise market efforts.
- Make sure you have the people in place needed to manage the responsibilities of franchise sales. You should have a full time effort from someone to manage the franchise marketing efforts if it isn’t you. The time and effort put into franchise sales is directly related to the results you will get from it.
For more information on franchise sales, contact us: