Franchise Sales
The franchise sales process is not just about closing the deal. It’s about finding the right fit for both candidate and brand. Learn how to move your franchise prospects and candidates through your sales process to determine if there’s a match. To achieve this, you’ll need the right team. Find out how to evaluate your franchise sales and development team, and best practices for pay, incentives, and commissions to attract and retain top sales talent and meet your development goals.
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Franchisee validation is driven by three factors. The first is unit-level economics. Are franchisees' financial returns meeting their expectations?
- Joe Mathews
- 4,146 Reads
What you don't know, you can't measure. And what you can't measure, you can't improve!
- Steve Olson
- 3,116 Reads 94 Shares
Franchise Performance Group has been studying and creating franchise sales "tipping points" since 2002. In this e-book we identify and explain the 10 Keys to Creating a Tipping Point.
- Joe Mathews
- 2,940 Reads 100 Shares
Getting the most from your advertising spend is more important than ever. These 9 tips can help you become more effective at choosing where you place your ads - and how to evaluate the results.
- Steve Olson
- 4,008 Reads 262 Shares
This is the first of a three-part series on how to optimize your franchisee conventions.
- Evan Hackel
- 7,468 Reads 1 Shares
As a bootstrap franchisor, there certainly are ways you can gain public attention through your own personal efforts.
- Steve Olson
- 5,062 Reads 31 Shares
Jersey Mike's has developed a recruitment system that's strong on speed, efficiency, and good communication, says Brian Sommers, vice president of franchise development for the Manasquan, N.J.-based franchisor.
- Debbie Selinsky
- 5,221 Reads 708 Shares
Franchise shows were the champions of recruitment during the 1980s and early 1990s. Franchisors effectively sold owners throughout the U.S. by "working the circuit" 40 weeks a year.
- Steve Olson
- 3,795 Reads 81 Shares
For many franchisors, the traditional advertising vehicles - portals, print advertising, PR, and broker networks - do not appear to be working as effectively as they were five years ago.
- Joe Mathews
- 9,677 Reads 1 Shares
Last year the headline on our Annual Lead Generation Survey story in Franchise Update magazine read: "Adapt or Die."
- Eddy Goldberg
- 5,023 Reads 225 Shares
Who is your ideal franchise buyer? Let's begin with knowing your market.
- Steve Olson
- 5,039 Reads 1 Shares
Try a few of these selling tips to sharpen your process and accelerate your inquiry-to-close cycle.
- Steve Olson
- 6,269 Reads 389 Shares
What are you doing to create a compelling, response-driven recruitment website for your brand?
- Franchise Update
- 5,688 Reads 517 Shares
The Annual Franchise Development Report (AFDR) from Franchise Update Media Group is a comprehensive research guide to sales and lead generation performance in franchise recruitment.
- Franchise Update
- 4,660 Reads 24 Shares
The good news for franchise recruitment is there are key lead generation sources that will work to various degrees of success.
- Steve Olson
- 5,085 Reads 121 Shares
The rapid increase in social media channels has provided new opportunities to build relationships with promising franchisee prospects, but it also has brought new levels of confusion, uncertainty, and a feeling of overload.
- Franchise Update
- 6,998 Reads 154 Shares
Unit-level economics. This single key is the greatest predictor of a franchisor's future success!
- Joe Mathews
- 4,602 Reads 1,023 Shares
Core values are today's "X factor" in franchise development. To succeed in this business, franchisors must effectively position their concept in the marketplace, offering compelling benefits to both customers and potential franchise buyers. By creating a dynamic culture you'll add a powerful dimension to your brand, which can catapult your organization beyond the competition.
- Steve Olson
- 3,117 Reads 15 Shares
Distinguish your franchise by knowing what creates steadfast customer loyalty to your brand. Franchisees profit from this consumer connection, which drives repeat business. At American Advertising Distributors I capitalized on our point of differentiation by arming our retail clients with marketing intelligence that was superior to any other service at the time, producing more successful campaigns for their businesses. I bragged to prospective franchisees about our powerful corporate research and development, which was instrumental in our 82 percent customer retention rate. Our retail market craved expertise for building their businesses, and our system delivered the goods beyond their expectations. We had raving customers who championed our brand because we provided them what they wanted.
- Steve Olson
- 2,839 Reads 1,023 Shares
Ever notice how closely the words intimate and intimidate are in their spelling? Probably not, but that's okay. It dawned on me while writing this, the third article in my series on Socially Engaged Lead Management. It is clear that to succeed brands today must become much more intimate with their customers and prospects.
- Tom Hochstatter
- 2,969 Reads 28 Shares
Franchisee validation can make or break your franchise sales. Pow! Just like that and a once-supercharged prospect can deflate to nothing in 24 hours, bailing out of your process instantly. Validation is the most influential stage in the selling process. What franchise owners say means far more than what corporate sales execs tell them. Franchise operators are "doing it," and it's their experiences that count foremost to cautious buyers.
- Steve Olson
- 4,473 Reads 110 Shares
I certainly enjoyed successful broker relationships over the past 20 years. Discovering qualified franchise owners through the professional efforts of franchise and business brokers contributed to the growth of several franchise companies I represented. Based on my personal experience and the insights from hundreds of franchisors who have sold broker-referred prospects, here's how to increase your popularity and closing rates with broker networks.
- Steve Olson
- 5,745 Reads 324 Shares
Have you been there? Where, you ask? On a ladder, climbing upward to obtain something, complete a task, or simply attempting to overcome an obstacle... like a wall.
- Larry Carnell
- 3,526 Reads 213 Shares
In last month's Franchise Update Sales Report, I provided an introduction to working with brokers to increase your franchise sales, and highlighted some of the advantages of using brokers as part of your development strategy. This month I examine some of the risks and downsides, as well as how sign up with a broker that works for you.
- Steve Olson
- 4,401 Reads 245 Shares
Online behavior is maturing more rapidly than ever before. Social networking advancements from all the market leaders have, and will forever, change how we collaborate, communicate, share, and engage with any relationship online--whether it's the closeness of a family member or a first encounter with a franchise sales representative. Trust and transparency are the new operating rules, and engagement is determined by the initiator.
- Tom Hochstatter
- 3,655 Reads 10 Shares
Many years ago (I won't say exactly how many) as a small boy, I would fish off a wooden pier on the banks of Mobile Bay near the Gulf Coast. To this day, my younger brother talks about the "Monster Fish."
- Larry Carnell
- 4,122 Reads 1,023 Shares
Truly great franchise sales and development teams are hard to find... and can be even harder to create. For franchise sales executives, attracting the right mix of people, passion, and experience, along with creating a positive culture and providing the right mix of recognition and reward, it's a delicate balance. Achieving that balance means the difference between a marginal brand and a great one
- Kerry Pipes
- 3,874 Reads 68 Shares
Happy New Year to all! The parties and holidays are all now behind us and it's time to get back to assisting people who are searching for the business of their dreams. We all know making a decision to start a business during uncertain times takes a special individual who possesses a vision and drive for success. Over the years some of the strongest and most successful businesses have started, and even thrived, during all sorts of economic conditions.
- Marc Kiekenapp
- 2,371 Reads 1 Shares
The incredible surge in outsourcing prospect generation to franchise brokers has reshaped the sales programs of many franchise systems. Once tarred by the horror stories of the 1980s, today's brokers are reborn and repackaged as the "franchise sales consultants" of the 21st century. This isn't surprising. Networks of professional consultants with years of franchising experience have swooped onto the franchise sales scene with extraordinary success. Today they deliver an estimated 3,000-plus new franchise owners annually to appreciative franchise companies. Franchise Update Media Group's Annual Franchise Development Report revealed that 57 percent of the 126 franchisors surveyed used brokers, with 67 percent closing deals.
- Steve Olson
- 6,418 Reads
Are you conveying the correct message about your brand? Are you taking advantage of your opening programs to get new franchise owners to monthly breakeven more quickly? How long does it take your prospect to understand the long- and short-term financial opportunities of your franchise concept?
- Marc Kiekenapp
- 2,826 Reads 31 Shares
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