- Is it working? In order to establish credibility to sell franchises, you’ll need to show you’ve got a successful operating prototype. The fastest way to do that is to have at least one solid business model that is already establishing consistent strong sales and consumer approval. The first to consider are your online rankings and consumer ratings. In successful franchise sales you must have strong third party validation that comes from positive stories and comments about you and your story that your potential franchise buyers see coming up in the media and all over the internet when they search your franchise. Otherwise, expensive advertising or listings on the franchise portals without widespread examples of consumer acceptance will prove to be an expensive lesson to be learned.
- Can it be sold? Your business model also needs to be appealing to potential franchisees. Your online credibility factors such as uniqueness, ratings, along with you and your story coming up all over the internet and in the media has a profound and positive impact on franchise sales. And, is everyone on your franchise sales team a proven franchise sales professional? Franchising is a highly regulated and unique business. You need someone to keep you compliant while bringing you enough sales that meet only YOUR ideal franchisee profile.
- Can it be replicated? The key to great success in growing your franchise is to make it easy to replicate your franchise business. The business model should be fairly simple to learn and operate and do well in many diverse markets. This is extremely important for rapid franchise expansion. That fact should be made clear in your franchise documents.
- Can the franchisee make a profit? A franchise owner will expect to get a decent return on their investment of time and money, after deducting the royalty and advertising fee. Based on your FDD, you may or may not be able to disclose numbers; however, we have found a most significant factor in signing new franchisees is your growth rate. How many new franchisees have been added in the past month or two is much more impressive to franchise buyers who are interested in a growing and flourishing franchise. You probably already have experienced how difficult it is to attract buyers to a franchise who is only growing at a very slow rate.
- Are you dedicated to their success? The franchisor must have the ability to gain respect and be resilient on building solid relationships. Franchisors that exhibit their commitment to their franchisees success are positioned to do exceptionally well in franchising. A remarkable franchise business model, along with exceptional training programs, top PR and digital professionals to saturate the media and web with their success stories, providing frequent franchisee interaction and demonstrating an unwavering commitment to the success of their franchisees success creates a very attractive model that will attract more
- Are you prepared for rapid business expansion? Keep in mind, just because you become a franchise certainly does not guarantee that you will be successful. Yes, in franchising you are using OPM for expansion. However, do you have the drive and management skills, and a seasoned franchise team to handle sustainable rapid franchise growth?
- Do you dominate your industry on the web? Do you have a great Franchise Publicity campaign featuring YOU and thrusting YOUR franchise in the limelight…in the right places? Do you have a team of professional Franchise Social and Blog professionals managing your online presence specifically as it relates to franchising? Are your franchising SEO/GEO campaigns bringing you up specifically in the markets where YOU want to grow so you can dominate your market as the best of the best. (Before a newcomer comes from out of nowhere and dilutes your potential for great success.)
Interested in a whole new way to grow YOUR franchise…Call us! We will be happy to set up a client conference call to discuss and determine the best package for you.