Growing a successful franchise isn’t easy for most franchisors. Being an expert in your product and running a successful business does not automatically equate to becoming a successful franchise. After all what have you needed to know about attracting franchisees before deciding to franchise?! Business owners franchise with the intentions to grow their brand nationwide or larger, replicate their own business success through multiple other branches and of course financial reward.
However being great at what you DO will not make you rich. There are lots of really smart, talented business people with great products and services who have not made a franchise work. That’s because money flows to the person who is superior at SALES and MARKETING. You have to be able to do both, but a lot of franchisors struggle and suffer and make no money because they don’t know how to bring a steady flow of new quality leads in the door, qualify prospects, fuel sales and generate revenue.
There is a lot of bad information out there telling you things that, well, just don’t work. On top of which there’s not enough time in the day to figure it all out. So we see all the time successful business owners failing at being a successful franchisor.
BUT….growing a successful franchise IS possible when you have 3 things in place.
#1: You MUST be clear on WHO your IDEAL FRANCHISEE is. Without knowing this you won’t be attracting the right type of person to your franchise. Having the ability to attract new franchisees is one of the biggest differences between a thriving franchisor and one who is barely surviving.
#2: You MUST have a reliable LEAD GENERATION system that generates a consistent flow of your ideal franchisees, every day – even when your on holiday! This way you are never going to wonder where your next sale is coming from.
#3: A proven conversion system. One that churns your prospects into new franchisees and where you NEVER EVER need to do any of cold-calling. By constantly communicating through automation and cleverly designed psychological marketing copy will keep your brand in the forefront of their thinking. This is the biggest area of opportunity for most franchisors we have worked with. They don’t have a systemized, automated strategy to follow up with prospects to turn them into franchisees.
As a franchise owner, you generally don’t have money to waste. By missing one of the must have steps above I can almost guarantee you are loosing money.
Implement a reliable, predicable and measurable automated marketing system and become super successful.