In my over three decades as a franchise consultant, I am often asked “What makes one franchise sales program succeed while another franchise sales program doesn’t?”
Rarely is there a single reason for success or failure in franchise sales. In my franchise consultant blogs, I will examine some of the factors that can help you succeed in your franchise sales program.
In this month’s franchise consultant blog, I will continue tackling franchising FAQs:
Q. How will I sell my franchise?
A. There are basically three options for who will be responsible for your franchise sales:
- Having the owners or managers of the franchise company fill the role of franchise sales people,
- Utilizing a team member to act as an inside franchise sales person, or
- Engaging a franchise broker or other outside franchise sales representative.
Each of these franchise sales options has pros and cons. If the owners or management of the franchisor are capable of the franchise sales function, they are often the best representatives (especially at the outset of the franchise sales program) for these reasons:
- They are most familiar with the franchise program and thus better able to sell it.
- It is the less expensive franchise sales option.
- This choice puts the franchisor owners/managers in the best position to sell prospective franchisees on themselves. Remember, the franchisees are investing in the franchise management team because the new franchise company does not yet have an operating history.
- This alternative allows the owners to become better acquainted with prospects and therefore determine if this is the best candidate for the vitally important first few franchisees.
If the existing franchisor owners/management do not wish to act as the franchise sales team, you can always choose to retain either an inside franchise sales person or outside franchise sales representative.
(More in my next blog)