These days, franchisors, particularly new or emerging franchisors, face a very complex landscape when it comes to franchise development.
Franchisee recruitment and development has changed drastically over years past and is evolving at a faster rate than ever. “Old??? tactics, which are still employed by the majority of franchisors (and especially emerging franchised companies), are antiquated, inefficient, and as a result – ineffective and expensive.
What worked in the past, and what is still used by most franchisors, simply does not produce results and franchisors are left scratching their heads wondering why they are not growing despite having a good franchise system.
The continued advent of the internet has changed the way that potential franchisees research opportunities and how smart franchisors grow their brands – and will continue to change rapidly. What has changed includes:
In other words, everything has changed!
Franchise Group understands the complexities that franchisors face today in recruiting and developing prospects that will become successful franchise owners. We will help you navigate today’s difficult franchise development landscape and adapt to new trends as the demographics and habits of franchise buyers continues to rapidly evolve.
In our next posts, we will take a closer look at each of the following, but here is a brief outline of some of the services that we will provide to your company to help you recruit more high performing franchisees:
1. Define your “Value Proposition”
What is your brand’s “value proposition???? What differentiates your brand in a saturated sector?
Let’s face it, unless you have developed a brand new widget never seen before, then you fall into the same category as 99.9% of all franchisors – you are a Business Format franchise. As such, you have hopefully developed a profitable, sustainable business model that can be scaled and duplicated across the country.
However, you must understand your true “value proposition??? to a potential franchisee and what differentiates your brand from other franchise opportunities. These days, savvy entrepreneurs, particularly multi-unit franchise buyers, want results – not to be “sold” a franchise. You must understand that you are not just competing against other players in your sector, but thousands of other franchise options.
2. Who is your “Ideal Candidate”
As a franchisor who wants to build a long-term, world class franchise system, one of your first steps is to identify the traits, attributes, abilities and habits of the type of individual most likely to become a high-performing, long-term franchise owner that is achieving his or her goals as a business owner.
3. Develop Effective Marketing Strategies
Based on your “ideal candidate” and “value proposition,??? we will help you develop marketing strategies that will focus on your brand’s target market based on where they work, play and do research vs. a “shotgun??? approach used by most franchisors which usually produces more work, higher expense and lower results.
Franchise Group will help you generate a higher number of leads that best fit your brand and will convert to a greater number of high-performing franchisees.
4. Create/Improve Your Franchise Development Website
Today, one of your most important franchisee recruiting tools is your development website. Unfortunately, most franchisors have development sites that are poorly written or lack the content to properly present your franchise opportunity’s value proposition and company culture. Worse yet, many franchisors have no development site whatsoever and rely upon simple power-point presentations to guide prospects through their Discovery Process.
Franchise Group can help you create an effective franchise development site to generate more leads, convert more leads to prospects, and engage with prospects to educate them on what it takes to be successful as a franchise owner and see themselves becoming a part of your franchise system and achieving their personal and professional goals.
5. Create an Effective “Structured Education/ Awards Process”
In addition, Franchise Group will help you create an effective Structured Franchise Awards Process that will keep your prospects engaged in a step-by-step education/evaluation process.
As a result, you will be presented with more qualified franchise candidates that are well educated on what it takes to be successful and prepared to become happy, high performing franchisees that will validate well and help your system continue to grow.
6. Comprehensive Franchise Marketing and Development Partner
As your “one-stop resource??? we manage and create everything needed to promote your brand’s growth: social media set-up, franchisee and broker sales presentations, website design and development, lead generation, advertising budget management, and more.
In addition to promoting your brand as your development partner, we can give you a complete assessment of all aspects of your franchise system by reviewing your current FDD, systems, processes, franchisee intranet communication, operations and training manuals and comprehensive financial analysis.
Franchise Group focuses solely on helping franchisors strategically grow their brand to quickly meet their growth goals. As your full service development partner, we can manage and develop virtually everything needed to promote your brand’s growth. Most importantly, we help you generate quality leads and convert more of those leads into long-term, high performing franchisees.
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