How to Maximize Franchise Recruitment Deals
Because franchising offers such a great vehicle for extending one’s brand and building wealth, more organizations are opting to franchise. And with this popularity, comes greater competition for franchise recruitment.
Whether you have multiple franchise sales people or a few, creating consistent communications throughout the franchise recruitment process, is key. Another key to increase franchise recruitment results is re-examining certain sales and marketing components of your franchise recruitment efforts:
Franchisee Profile: Look for common characteristics in your 10-20% top performing franchisees and target your lead generation initiatives at candidates that have those common characteristics.
Lead Generation: Remember it’s not about the number of leads, but about the number of new franchisees that are added to your system. Sometimes, it may not be the quality of the leads, but how the leads are handled that may be an issue.
Discovery Process: In this stage of the process, the franchise sales person not only shares information about the franchise opportunity, but it is also an ideal time in the sales process to set expectations and establish a timeline for decision-making.
Budget Allocation: To be successful, you need a realistic budget allocation to meet sales goals. Confirming upfront whether yours is or isn’t realistic, will save you energy and time.
Talk with MSA's franchise consultants on other ways to improve your franchise recruitment results.