how to be sell franchise leads well

9 Ways for Improving Franchise Lead Generation

• Stay in touch with your targeted customer. ...
• Hire an expert in franchise development. ...
• Create a separate recruitment website. ...
• Don’t be afraid to spend money on leads. ...
• Get rid of what’s not working. ...
• Content Marketing ...
• Invest in paid search. ...
• Take advantage of social media. ...

Full Answer

How do franchise sales generate leads?

Here's a look at how a range of digital marketing channels can help franchise owners generate leads:Website Design. Before purchasing a franchise business, most entrepreneurs go through an extensive, self-directed research process. ... SEO. ... PPC Advertising. ... Programmatic. ... Social Media.

How can franchise sales be improved?

16 ways to improve your franchise managementMake research easy and entice new prospects by posting everything online. ... Don't shock or overload stakeholders – drip feed information. ... Plan for growth, achieve big goals. ... Connect people and encourage conversations for bigger investments.More items...

How do you sell a franchise?

Selling Your Franchise in Three Simple StepsStep 1: Prepare Your Franchise for Sale. Start by contacting your franchisor. ... Step 2: Market Your Franchise for Sale. Most business brokers use online portals and their own proprietary databases to market businesses for sale. ... Step 3 – Negotiate and Close the Deal.

How do you convince customers to franchise?

However, if you follow these simple tips you will be on the right track!Position Your Brand as an Expert in its Domain. ... Make Yourself Appealing to Franchisees. ... Strong Communication with Your Current and Potential Franchisees. ... Use Existing Franchisees as Brand Evangelists. ... Create a Strong Web Presence.More items...•

What is franchise strategy?

Put simply, a franchise strategy is a road map that gives your business direction by: outlining objectives. helping you to understand the landscape in which you operate. mapping tactics to achieve your goals. planning for any potential obstacles in the road.

How can I impress a franchisor?

represents their brand in a positive light. Unless the franchisor has told you they're business casual, wear a business suit. And even if the franchisor has indicated they're business casual, put the emphasis on "business." A professional appearance goes a long way in establishing your credibility.

How do you get people to buy a franchise?

Here are the best 10 tips that should help you get started when you first market your franchise business:Build Your Online Presence Online.Work Social Media.Redo Your Marketing Materials.Be Content Savvy.Understand the Conversion.Redo your Franchise Logo.Understand How Critical a Franchisee Is.Leverage Your Connections.More items...•

How long does it take to sell a franchise?

The average franchise sales cycle is 12 to 20 weeks On average, the total time to close a franchise sale can be up to 20 weeks.

How much do you sell a franchise for?

Franchises are often valued based on a multiple of revenue, cash flow, or earnings before interest, taxes, depreciation, and amortization (EBITDA). As the name implies, the EBITDA method adds back some expenses to the earnings total, and a franchise can be valued at 4 to 5 times EBITDA.

How do you convince a customer to choose you?

7 Tricks to Convince the Client to BuyBe natural and do not use scripts.Ask about the clients' well-being.Use names while talking with a client.Prove that your products are better than those offered by competitors.Keep initiating further conversation.Specify the positive characteristics of the customer.Act on emotions.More items...•

How do you find potential franchisees?

One of the first places potential franchisees will visit is your franchise website. Specifically, your franchise website should provide information about your business, the support and training you offer, and the level of investment that is required to open a franchise.

How do you write a franchise proposal?

How to Write a Franchise ProposalReview Franchise Requirements. Franchise owners publish information that sets out the scope, benefits and requirements of their franchise. ... Develop a Structure. ... Provide an Overview. ... Describe Your Experience. ... Introduce Your Team. ... Describe Market Potential. ... Make Financial Forecasts.

How can a franchise grow his or her business?

Smart Tips for Growing Your FranchiseGrowing and adding more units. Some of the most successful business owners are multi-unit franchise owners. ... Strive to become the "top producer" ... Help your franchisor grow. ... Become a great validator. ... Join the owner's advisory committee. ... Take advantage of leadership opportunities.

How does a franchise grow?

Many franchise owners end up growing their businesses by purchasing more than one franchise location. The success of their first purchase allows them to do this. Whether you are a franchisor or a franchisee, the franchise model is understood by experts to be an ideal arrangement for all parties.

What are advantages of franchising?

Advantages of buying a franchise You don't necessarily need business experience to run a franchise. Franchisors usually provide the training you need to operate their business model. Franchises have a higher rate of success than start-up businesses. You may find it easier to secure finance for a franchise.

Why is marketing research important to the franchisor?

As a franchisor, market research will help you grab information about the market potential, during a specific time and age group. Expert states that market research is an essential business tool for gearing a business towards sure shot success.

What else do you need to attract franchise leads to your franchise?

Now that you have the franchise story in the works, you need prepare other key types of franchise marketing materials.

What is a franchise product?

For you as a franchisor, your product is the franchise: a well oiled business machine created for the purpose of bringing people to become business owners and franchisees, leading them to financial freedom. Your franchise is your baby and deep inside you know that its business model works, because it worked for you.

What is franchise email?

Franchise emails – franchise emails are a powerful franchise lead nurturing tool that help educate franchise leads about the details of your franchise and drive them through the franchise sales funnel. We have built a very detailed article about franchise emails and how to use them effectively.

What is a franchise social media account?

Franchise social media accounts – these are the platforms through which you will be delivering your franchise story and franchise testimonials. This is the place where you will be creating advertisements in order to drive traffic to your franchise website. Social media platforms include Facebook, Instagram, and LinkedIn, just to name a few. The importance of social media in franchise marketing is outlined here.

What happens if you make mistakes marketing your franchise?

If you make mistakes marketing your franchise the costs will be much higher. Costs of lost opportunities, for example.

What is the purpose of telling a franchise story?

By telling this story you create what called brand awareness. You make your potential franchise leads know that your franchise exists. That’s it – it’s simple.

Why is product important in franchise operations?

For franchise operations people, the product is more important because they have to deal with product related issues on a daily basis.

How to generate new franchise leads?

Also, if you have a customer name, email, or phone number list, you can easily upload that to Facebook and run a small campaign at $5-$10 / day going after that audience with relatively good results.

How much does it cost to sell a franchise?

Franchise brokers are another way to generate franchise leads. It costs roughly $22,000 to sell a new franchisee via a broker network. But, if you can get the right network such as The Entrepreneur’s Source or FranServe selling for you with some internal champions, you can really ramp up your franchise units in a hurry.

What PR firms are in franchising?

Some firms within the franchising world that specialize in this include: Fishman PR, Anderson Group Public Relations, Konnect PR, Cadence 9, All Points PR, and Curious Jane.

What is the best way to acquire franchises?

Going to franchise related trade shows is one of the more traditional ways to acquire new franchisees. These can be expensive, but there are still a lot of people who go shows like IFA to learn more about various franchises.

Where do you get leads to drive?

Once you are ready to start driving leads, understand that here are some common places that leads are generated: Existing Customers, Trade Shows, Online, Portals, and Brokers.

Is existing customer scalable?

Existing customers are a great place. It’s not super scalable, but as you do grow more and more units, as you have 50 units instead of five units, you’re going to get more of that, so make sure you have a way for people to inquire. A lot of times that’s just grassroots stuff.

Is lead generation a franchise?

Franchise lead generation is unique. It is easy to spend a lot of money on franchise brokers and lead generation with few results to show for it. This is even more true in 2021, following a global pandemic that has rocked the franchising industry, especially the restaurant and gym franchise spaces.

Is Wheat Creative a good company?

Wheat Creative. I think Wheat is really an awesome company. Let me just close out some of these. Justin Baloun is the CEO over here. Really nice guy. I think they’re real strong at design, brand placement, SEL, website design. We collaborated with them on some stuff. Like, I definitely refer people to them if they need a new website a lot of times. They’re probably one of my top favorite providers for franchise development websites just ’cause everything … Like, everything’s spot on with brand, which is really important. They’re really good.

Can you sell your business on BizBuySell?

BizBuySell. This is more of a marketplace. They do a lot. They’re most of the franchising events. The style of the site’s really similar. But you can actually sell your business here as well. It’s not just franchising; it’s literally anything. They have a big franchising section, but they have stuff that’s not just for that. If you wanted to actually sell your business you could do that there.

Does Franchise Gator have an app?

The first thing I wanted to go over are four franchise lead generating apps that are out there, ’cause I think that this is where a lot of things are kind of moving toward. You’ll see Franchise Gator has their own app. Actually, it’s a really smart thing to do ’cause we drive some leads in the software as a service space, the SAS space, and honestly you can drive leads here for … I don’t know. We drive a lot of leads for like a dollar. So, I’d imagine these are probably some of the more profitable leads. So, you can download … People just download the Franchise Gator app on their phone and search there. And it’s pretty user friendly.

First things first

Before we dive in on the best ways to get new franchise leads, let’s talk about knowing your target audience.

Final Thoughts

Each aspect of the franchise lead generation is beneficial to the overall strategy. Your social media will show brand consistency, your paid search campaigns will drive traffic to your website, and your website design will keep the potential franchisee buyer engaged and hopefully submit for more information.

Selling an existing franchise

For franchisees who are ready to sell their established businesses, here’s a piece of good news: According to a study conducted at Palm Beach Atlantic University’s Rinker School of Business, franchise resale prices are higher than those of non-franchise businesses.

Step 1: Prepare Your Franchise for Sale

Start by contacting your franchisor. There is no reason to keep the sale confidential from your franchisor who is accustomed to their franchisees exiting at some point. Ask if they can help you with a resale or transfer. Find out the extent of assistance they offer. The process varies significantly from franchise to franchise.

Step 2: Market Your Franchise for Sale

Most business brokers use online portals and their own proprietary databases to market businesses for sale. If your franchisor does not aggressively market the sale of your business, a business broker can do this for you.

Step 3 – Negotiate and Close the Deal

Once you’ve found a buyer who is interested in both your business and the franchise model, you can negotiate a price and begin with the closing process.

Selling your franchise opportunity

Every franchisor knows that the success of a franchise system is dependent on franchisee success. So simply selling a franchise is not enough. It really comes down to awarding a franchise to the right person. For franchisors who want to grow their brands with quality candidates, here are three simple ways.

Step 1 – Work with Quality Franchise Brokers

Working with quality franchise brokers is an effective and popular way for franchisors to find ideal candidates. In fact, franchise referral consultants (a.k.a brokers) have been found as the top source for lead conversions.

Step 2 – Exhibit at Trade Shows

Exhibiting at trade shows is a great way for franchisors to get in front of potential candidates face-to-face. Trade shows allow franchisors to market their brands to a large number of qualified prospects at one time. This in-person opportunity gives both parties a chance to get to know each other in a casual setting.

What is a franchise agreement?

The franchise agreement that is executed by the franchisor and the franchisee contains, among a lot of other detailed requirements, strict and copious rules and restrictions for the transfer of the franchise rights. Specifically, if you own a franchise – whether it be for burgers, healthcare, fitness, hotels or any other franchise system – there ...

How long do franchise rights last?

Franchisors typically award franchise rights to a franchisee for a minimum of five years and many times quite a bit longer. Most sales of existing franchised units happen in more mature franchise systems rather than in very young ones; though occasionally, a new franchisee realizes early on that they are in over their heads and need to be bailed out – usually by the franchisor.

Why do franchisors have in-house programs?

Some franchisors have in-house programs designed to assist their franchisees in selling their existing units. This is particularly true for a mature brand. One reason for this is that most franchisors award territorial franchises; that is, each franchisee, for as long as it meets minimum operating standards (including sales targets, inspection scores, etc.) has the exclusive right to operate that franchise in a specific territory (subject to the other terms of its franchise agreement). If the franchisor has another qualified candidate for that specific territory, the franchisor is likely to assist its existing franchisee in selling its franchise rights.

What is the importance of knowing what the other fees a buyer will be obliged to pay?

This is particularly pertinent when establishing a price for your business.

Can a franchisor sell a franchise?

Some franchisors will contract with unrelated firms such as Worldwide Business Brokers to sell existing franchise units. This does not eliminate or reduce the resale restrictions in the franchise agreement but only takes the franchisor out of the re-sale business. The existing franchisee that wants to sell and the potential franchisee that wants to buy still need to meet all the requirements outlined in the franchise agreement and the franchisor still needs to approve the sale.

Do you vet a potential buyer before selling a franchise?

All of this means that you would be wise to vet your potential buyers early on – before you even disclose any financial information – by finding out what your franchisor’s requirements are; or enlist the assistance of a business broker with experience in the sale of franchises. Such experienced brokers know the ropes, understand the FDD ( Franchise Disclosure Document) and work with legal counsel that specializes in franchise law, all to your benefit.

Do you have to have the same training for a franchise?

The buyer and its managers will have to meet the same educational requirements, meet the same financial and net worth qualifications, attend the same training classes, go through the same franchisor vetting process, sign a new, current and possibly more onerous franchise agreement and essentially meet all the franchisor’s standards that you did; and maybe more, if those standards have changed which, if your franchise is more than a couple of years old, is probably the case.