Four Strategies To Find Franchise Prospects
Four Strategies To Find Franchise Prospects
For most of us who have stood steadfastly by our tradeshow booth hoping to capture just one solid franchise lead, the chances of having a good prospect drop by has been fairly depressing in the past few years.
While solid candidates are in attendance at most franchise shows, many attendees are franchise tire-kickers--folks who are just out for a stroll, picking up knickknacks and dreaming of a life away from the humdrum 9 to 5 job that pays the bills and keeps the boat afloat.
Like most franchise sales organizations, The Franchise Sales Solution is trying to attract the small group of solid prospects who have already determined that they are going to join the ranks of other entrepreneurs and purchase a franchise. What will ultimately attract them to the franchise brands we represent is the million-dollar question.
All of the franchisors that we represent have solid track records and profitable, proven systems, but many of them are new to franchising. As any franchise sales team will tell you, attracting that first handful of franchisees is the greatest challenge they have faced as an entrepreneur.
In the past year, we have developed a number of strategic partnerships that we believe will help provide our clients with the best opportunity for engaging new prospective franchisees. Though we will still be attending franchise shows, the bulk of what we are doing is a huge paradigm shift from past practices. Here are four of the new strategies we will use in 2012:
- Mini Multi-Franchise Educational Seminars in markets where we want to expand. Attendees will be prescreened and personally invited to learn more about franchising.
- Social Media Blueprints that put equal emphasis on expanding retail presence while increasing search parameters for clients looking for a franchise opportunity.
- Establishing a concrete public relations strategy that drives interest in a brands franchise opportunity.
- Increasing the top-of-the-funnel by optimizing and promoting content that will increase website traffic and leads by partnering with companies like HubSpot.
Each of the strategies above is a part of the larger franchise lead generation program. Not all franchisors are fully able to put these strategies in place; the strategic partnerships that we have developed will allow for an expansion of the lead generation program without putting additional stress on the franchisor.
Now it’s your turn. What one strategy have you used that has provided you with increased qualified franchise candidates?