Marketing a Franchise
In the business of franchise concepts, the process of marketing is new and unique to most. It could be compared to dating, hunting and many other catching metaphors, but for someone who is actively marketed and sold franchises
, it comes down to a few key factors as to what separates the successful franchise from the unsuccessful marketers.The franchise sales and franchise marketing takes a budget. The clients in deciding what to budget for franchise marketing activities is two fold. The first budget for a brochure, printed materials
, a good website and other program pieces that are necessary to attract buyers. Then on a monthly time frame budget is starting from $550 to $1,600 for lead generation activities. Do not go into franchising without a budget for marketing the business
.The second thing is take notice of franchising that we need to have a compelling story. This call a unique selling proposition for a business concept. What makes us different from every other business out there in the franchise businesses. If we can not say something to ourselves in the mirror that makes us smiling, it means that we are going to have a hard time getting other people to find it interesting. Develop this value proposition and nail it down before we are starting to talk to people.
If we do not like making a lot of sales calls, we need to budget for a sales person to do this. Franchising is a sales business, do not let anyone fool us. People do not walk in the door and hand checks over, it is a contact sport and takes hundreds and hundreds of phone calls to land franchise partners.
As good franchise sales person will make 75 to 150 phone calls per day. It is personally called a good prospect over 40 times just to get a meeting with them regarding the franchise opportunity. We have to get ready to be busy in franchising business. Burn up the phones and we will see revenue in our franchise system.
It is also important to remember
that our franchise probably one of several franchise opportunities that any buyer is considering. So if we do not leave an impression to the buyer, they will very likely forget about us. We have to be aggressive and tell the buyers how our franchise will benefit them. Franchising will help the people become entrepreneurs, which is the most empowering thing in the world. The shortest sales times with franchise buyers have happened in cases where the sales pitch turned into a counseling session.
Franchising is an effective and powerful way to grow a business. The key with any new business venture is to approach the idea and business strategy with as much information as possible. So when we approach the idea of how to franchise our business, be ready to market and sell our franchise.