Are you keen to sell more franchises to expand your business? Selling franchises involves many of the same principles that apply to any type of sales and marketing.
Here are five key tips for getting started.
1. Put yourself in the shoes of the potential buyer: Focus on the needs of buyers and consider what the franchise can do for them. For example, ask them what they want to gain from joining the franchise, and about their hopes for the future.
2. Hone your brand image: A brand that is more established and recognisable is likely to attract more interest – so do what you can to make improvements and polish up your brand’s image, such as by developing a memorable logo and a professional-looking website.
3. Refine your processes: Develop great systems along with easy-to-use operations manuals, software tools and other resources. Get professional assistance to do this where required.
4. Offer support: Make activities such as training sessions, regular meetings and events, and building connections with your franchisees as part of your franchise’s package-deal.
5. Use a variety of communication tools: Examples here might include flyers, webinars, franchising websites, and attending live events and expos. The better you are able to communicate what you have to offer, the higher your chances of attracting the right people to your business!