Franchise helps people to own a business and continue their dream of starting their business. Another important reason for them to choose to be a franchisee is that rather than establishing their own because of the potential financial returns and the opportunity to be their own boss. A collaboration of such a kind helps to grow the ability under a common brand along with sharing the benefits of a larger group of business owners. As a new franchisor, there are many ways it can increase the franchise sales. Either you can sell them yourselves, outsource, or hire a professional.
Listed below are the 5 things that you are probably not doing to sell more franchises:
1. Create a website solely dedicated for recruitment:
The franchisor should make sure that he has created the website for the recruitment. The website should have a solitary purpose of entertaining those who wish to purchase the franchise. It should be designed with proper etiquettes for the recruitments. He can also put in a Profit Calculator which will help in calculating how much he could make from his own website.
2. Addressing the buyers:
Being a franchisor, he has to make certain that the marketing message is heard by the potential buyers in the market which will directly affluence in the sales of his franchise. The franchisee will be influenced by:
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- An attorney for them to retain for the reviewed franchise legal documents.
- The lender who will be providing them with financial aids.
- The franchisees’ trusted confidants and advisors along with their spouse and family members.
- Google and other search engines to read about the franchise’s reviews and messages.
- A general view of the products that the franchise uses.
3. The messages conveyed by the franchise:
When the franchisor tries to advertise his franchise, it sends a particular message to the audience. Therefore, he has to make sure that the message should be to the point with an emotional touch to it. This will help the audience get acquainted with the franchise on a personal level. The franchise buying process is an emotional one as the people buying it will be integrally related to the person’s financial well-being and with the way a person perceives themselves.
Keeping aside the message, the customers will connect with the materials too. People would generally assume about the franchise and the product from the website. Hence, maintaining and updating the website is of utmost importance. He also has to ensure that he is making a good impression on the people in their first glance. For example, if the franchisor prints a cheap brochure and sends it, it will portray that he is not very much serious about his work.
4. Motivation of the franchise:
The way a franchisor motivates a particular franchise doesn’t necessarily mean that his customers will get motivated in the similar manner. Many new franchisees assume that the main motivation behind purchasing a franchise is financial returns. In fact, there are other important things that motivate the franchisee namely- independence, being one’s own boss, flexibility and the control of their destiny. Although the franchisor needs to be careful to avoid a fallacy of composition.
5. Provide strong field support:
The franchisor should keep in mind that people talk and give reviews about the product on a public platform. Hence, the prospective buyers will know everything about his company even before he has met them. Therefore, he must get in touch with his franchisees, work with the managers and get to know what issues they are facing. Helping them figuring out their needs and supplying them with the solutions should be the main motto of the franchisor. This will take many efforts but will be quite helpful in the future. As a franchisor, he should make sure that franchisees research quite a lot before actually buying a franchise.
The franchisees tend to go through the franchisor, the franchise broker, the industrial outlook and association, trade and industry shows, and the competitors. They have to go through these points thoroughly in order to make sure they are making the right choice. The franchisees ensure that the franchise is renowned and safe and secure in the market. Here are some benefits of buying a franchise:
- The franchisor will provide the training for running the business and therefore, no previous experience of being an entrepreneur is required.
- Buying a franchise is much easier than setting up a business as franchises offer the independence of small business ownership which is thereby supported by big business ownership.
- It has also been observed that franchises have a higher success rate than small start-up businesses.
- Securing finance for the franchise is much easier than securing finance for a business. The main reason for this is because buying a franchise is much cheaper than incepting a start-up of the same type.
- Franchises often have a well-known reputation and an established image which thereby saves a fortune for advertising and publishing. The support of the local audience and the access for advertising nationally is of much less effort.
Thus, it is truly believed that the best way to get into a business and get experience is by purchasing a franchise. Nevertheless, the franchisor should make sure that franchises in no way will guarantee success as it includes the same principles of good management- like hard-work, time-management, informed decision-making, having enough amount of money, and serving the customers- which are still applicable.
Also read :Â The Reopening of Franchise Sales during the COVID-19 Pandemic
Read full issue :Â The 10 Disruptive Franchises of 2020
