Franchisors can benefit from a conversion strategy

A conversion franchise is simply an existing business that is converted to a franchise. This will typically mean that the conversion franchisee will rebrand the business and change the décor, to conform and operate as part of the franchise network.

The Benefits of a Franchise Conversion Strategy:

  • A franchise conversion strategy can mean faster growth for the franchisor by adding more franchisees at a quicker rate.
  • There is the opportunity for immediate start-up with little preparation required.
  • The franchisor may increase market share rapidly as the conversion franchisee has an existing base of business.
  • The conversion franchisee has existing experience and knowledge operating a business in the same industry segment as the franchisor.
  • A conversion franchisee can add synergy to the franchise network based on their business experience.
  • It is easier to target franchise prospects by identifying conversion targets in the industry, bringing franchise recruiting costs down since the market for conversion prospects can be easily identified.

 

Consider a franchise conversion strategy to grow your franchise network quicker?

 

 

Yours sincerely, SA FRANCHISE BRANDS Newsletter Ask The Experts

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Remember to visit www.safranchisebrands.co.za for Franchise Opportunities.

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