Selling Your Brand
Every franchisor knows that the success of a franchise system is dependent on franchisee success. So simply selling
a franchise is not enough. It really comes down to awarding
a franchise to the right person. For franchisors who want to grow their brands with quality candidates, here are three simple ways.Step 1:
Work with Quality Franchise Brokers
Working with quality franchise brokers is an effective and popular way for franchisors to find ideal candidates. In fact, franchise referral consultants (a.k.a brokers)
have been found as the top source for lead conversions.
Why? Well, by the time the franchise consultant introduces the candidate to the franchisor, they have already determined if the candidate is 1. Right for franchising; 2. understands the brand; 3. has the funds and skills to run the business. In short, franchise brokers save franchisors a ton of work and time by providing quality, qualified candidates.
Aligning with a reputable franchise broker network
helps franchisors find the best franchise brokers. Typically, franchise broker networks provide events and other opportunities to meet and build relationships with these helpful professionals.Step 2:
Exhibit at Trade Shows
Exhibiting at trade shows
is a great way for franchisors to get in front of potential candidates face-to-face. Trade shows allow franchisors to market their brands to a large number of qualified prospects at one time. This in-person opportunity gives both parties a chance to get to know each other in a casual setting. They can quickly determine if it’s a good fit and if they like each other enough to enter into a long-term relationship. There are trade show events happening all the time all over the country, giving franchisors a vehicle to focus on specific regions where they want to grow.Step 3:
Tell Your Story
Of course, investors want to know about the numbers in a franchise investment, but that’s not the only criteria. They also want to know who is behind the brand and what its culture is like. Content marketing is a great way to accomplish this. By creating video testimonials featuring franchise owners and telling their stories
, franchisors can share the human side of their brands. These stories resonate with potential buyers and give a colorful picture of what franchise ownership is like.
In franchising, following a proven system is the name of the game. The same holds true for selling a franchise. By following simple steps, franchisors and franchise business owners alike can find success in selling franchises.