The Six Steps to Selling Success: Summary

The Six Steps to Selling Success: Summary

In previous issues of this newsletter, we've covered many components and aspects of The Six Steps to Selling Success from Steve Olson's best-selling book "Grow to Greatness," a guide to building and sustaining a successful franchise brand. Amidst the and necessary tasks involved in franchise sales and development, it's easy to lose touch with the big picture. That's why this week we present a summary overview of those steps. Pin a copy to your wall, keep one in your wallet, make it your home screen. However you do it, remember it's always wise to take a step back to broaden your perspective, and that there's always room to fine-tune your franchise sales process and improve the skills of your team.

The Six Steps to Selling Success

  1. Pre-qualification
    • Present a brief description of your franchise opportunity
    • Confirm basic contact and qualification information
    • Screen candidate with key probing questions
    • Describe candidate profile you are seeking
    • Present next step in investigative process
    • Instruct candidate to return RFC application within 5 days
  2. Program Review
    • Highlight topics and objectives of session
    • Review prospect's RFC with qualifying and probing questions
    • Ask for and address general questions, deflecting premature ones for later
    • Discuss ownership benefits and advantages
    • Share mission statement, culture, and values
    • Summarize operations, marketing, and management
    • Describe ideal candidate you are seeking
    • Assign task(s) to involve prospect in your business
    • "Start the close" by establishing expectations and your six-step process
    • Review next step and prepare prospect for FDD
    • Set time for next meeting
  3. Disclosure Review
    • Highlight topics and objectives of session
    • Answer candidate's FDD questions, reviewing key areas
    • Discuss prospect's assignment and give another
    • Review funding options and recommend lending sources
    • Probe with more open-ended questions
    • Pre-sell Discovery Day
    • Review next step and prepare prospect for franchisee calls
    • Set time for next meeting
  4. Franchisee Validation
    • Review franchisee conversations
    • Review preliminary approval of financing
    • Review prospect's assignment
    • Probe with more open-ended questions
    • "Set the close" with invitation to Discovery Day
    • Provide profiling survey to complete
    • Prepare buyer with Discovery Day checklist
    • Provide filled-out agreements to satisfy 5-day FTC rule
    • Set time for Discovery Day at headquarters
  5. Discovery Day
    • Give welcoming introduction and reaffirm expectations and approval process
    • Provide agenda for the event
    • Tour local franchisee operations
    • Meet with training, operations, marketing, and executives
    • Visit with president/CEO and senior executives
  6. Awarding the Franchise
    • Review Committee meets and awards approved franchises
    • "Close the close" by approving buyers and extending one-week offer
    • Set time for telephone closing, or in-office closing for local buyers
    • Provide overnight account for returning signed documents
    • Countersign documents and welcome new franchisee into your system

This is an excerpt from my best-selling book, "Grow to Greatness: How to build a world-class franchise system faster." To order copies, click here.

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