The process of selling franchises and acquiring new franchise partners is a complex sales method. I have worked with many fantastic sales people who were not apt at selling franchises or licenses. In fact, many times, the people who were good sales people were more often worse off than the clients who had never sold before. Sometimes it is easier to start with a clean slate than trying to teach an old dog new tricks.
Franchise sales is not about flashy, smooth talking sales presentations, the best franchise sales individuals I have worked with know how to present and are comfortable with people, but also don't oversell the franchise to a prospective buyer. People want legitimacy, they want facts and they want someone they can feel comfortable with when entering into a franchise partnership with a franchisor.
It is critical to have all of your facts lined up before you enter the franchise sales process with a potential franchisee. The buyer in a franchise sales process is waiting for your to slip up....to tell them one thing and then backtrack on your facts in a second conversation will be the end of your sale. Know your franchise, understand the business, the competition, the costs of starting up the franchise and the details of marketing the business once they get started. Every detail makes a difference and it is critical to cover every base throughout the sales methodology.
Be prepared for a lot of calls. Having spent the past ten years in franchise development and franchise marketing, it became apparent very early on that franchise sales requires an intensity and consistency unlike most other industries and markets. The benchmark is typically between 100 and 150 calls per day to prospects. The goal should be to get prospects to a meeting or a discovery day to really get a feel for the franchise and give you the opportunity to meet with them.
Franchise sales can be rewarding, it also can be frustrating and time consuming. I founded Franchise Marketing Systems after working in the franchise industry for years and seeing new franchisors struggle with the ramp up involved in starting a franchise company. For more information on franchise sales and how to sell franchises, contact us - (800) 610-0292.
FMS is a team of expert franchise consulting professionals based in Canada that provides solutions for franchise development, franchise consultation, and expansion of businesses globally.