Let’s paint a picture of what you can expect your new role to be as a “franchisor” when you franchise your business. Exciting times indeed! You have just spent a few months with us to structure and put together your franchise package. Now it is time to tell the world and finally get back to all those people who have been interested in your business.
Start Advertising to Attract Interest
When franchising your number one priority will be to find the right people so that you can award franchises. Notice we said “award” and not “sell”. We say this because no one likes to be sold to, you are really awarding a franchise to the right person. This is not unlike advertising for your own business and this is how you should think about advertising your franchise. You may find that you really do not need anyone to help with franchise sales (check out this article “Do I Need Someone to Manage My Franchise Sales“). Even though you are still handling the day-to-day operations of your existing business, you quickly begin to realize that the business of franchising is not an extension of your existing business, it is a business of its own!
There is no magic bullet where you can go to advertise for franchisees. It really all depends on the type of business you are franchising and who is your audience. For example of you are a franchising a medical office then your audience are physicians, medical directors, nurse practitioners and those who are licensed to practice medicine. There are also the run-of-the-mill advertising platforms such as franchise portals, pay per click advertising, social media, etc.
Entertaining Franchise Applicants
It really begins to get exciting when you start vetting (pre-screening) people who are interested in your franchise program. You will now use the passion that got you to this point with your business to screen franchise candidates (see how to identify who is an ideal franchisee). And you will need to be able to answer the question: “What makes your franchise opportunity different?”
No need to worry, during our franchise development we will provide you with best practices, ideas for marketing collateral and share with you with numerous and creative ways to advertise and market your franchise opportunity. And with our franchise qualification programs, you will know exactly what to say and do to select the right candidates as your franchisees.
What is a Discovery Day
This is a way to invite applicants in to come and visit with you. Yes, that’s right. Time to meet ‘Jim-Bob and his crew’ to determine if he is the right fit for you. This visit is known as a “Discovery Day”, meaning this is the time everyone has to ‘discover’ each other (more on the topic of discovery days). So you will create a nice orientation program, give them a tour of your business and answer some basic questions about the operation (not giving away any proprietary or confidential information, of course). You may even take your prospective franchisee out to lunch. Discovery Days are typically a few hours, so no need to go overboard. Your goal is to better answer the question in your mind: “Does this person have what it takes to be one of my franchisees?”
Rinse and Repeat
Your efforts during this phase should result in some golden nuggets, though you will have to sift out some lumps of coal along the way. Embracing the advertising and qualification process is important as you continue to attract, qualify and select future franchisees.
Now, back to the present. That was just a glimpse of what’s to come as a franchisor when you franchise your business. Ask yourself: Are you ready for the challenge? Can you see yourself doing this over and over again? if so then call us directly at 1-877-615-5177 and we will help you determine if franchising is right for you!
- Who Advertises for Franchisees
- What to Expect in Your Role as a Franchisor
- How to Add Value to Your Franchise Program
- What You Need to Know About Awarding Franchises
- Success in Franchising is Contingent on This
