2015 AFDR Highlights: Overall Closing Ratios Are Improving
This newsletter continues to present highlights from the 2015 Annual Franchise Development Report (AFDR). The 2015 AFDR is based on responses from 139 franchisors representing 36,313 units (32,693 franchised and 3,620 company-owned).
This week: closing ratios.
Despite all the shortcomings reported by franchisors (see previous issues of this newsletter), when it comes to closing ratios, the franchisors in year's AFDR are doing something right: their collective closing ratios continued to trend upward in 2014.
- Leads to sales, after hovering in the 2 percent range for years, jumped to 7 percent in 2014.
- Applications to sales rose from the 10 to 20 percent range in previous years to 27 percent in 2014.
- Although the closing ratio for discovery days to sales dipped slightly from the previous 3 years, it is still slightly higher than in 2010.
(Note: The expert panelists who presented the findings at the Franchise Leadership & Development Conference thought the ratios reported by franchisors were unrealistically high. Draw your own conclusions.)
How To Order
The complete 2015 AFDR, with analysis and benchmarks, is available for $199. New for 2015 is a 5-video package that includes videos of presentations from this year's Leadership & Development Conference. The package, at $299, also includes the 2014 AFDR for comparing year-to-year survey results. For ordering information, call Sharon Wilkinson at 800-289-4232 x202, email firstname.lastname@example.org, or visit franchiseupdate.vizigy.com.
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