Every Franchisor’s objective is to sell franchises and to grow their network. But some are just streets ahead of the others when it comes to the success of growing their brand using the franchise concept.
It all comes down to how the franchise offering is created. Usually a great deal of time, effort and money goes into creating a franchise offering, so why not make it magnificent. Your franchise offering must scream “PAY ATTENTION TO ME” to any prospective franchisees.
Let’s consider some common traits that successful franchise offerings have in common.
A Professional Website
Your website is probably the first place that a prospective franchisee will go, to start their fact-finding journey regarding your brand. The website should showcase your brand in the best possible way and be easy to navigate. Your franchisee information must be easy to find, relevant and informative.
Don’t Oversell Your Brand
Carefully balance your sales presentation to be realistic, create opportunity and be exciting. Avoid overselling at all costs so that there are no nasty surprises when franchisees join the system.
Word of mouth as we know, is the best form of advertising. When a satisfied customer gives your business or product an enthusiastic recommendation, it is extremely valuable. As a Franchisor, your best salesperson is a satisfied franchisee, which goes a long way to assist in expanding your franchise network. Unfortunately, the converse is also true, so make sure that your franchisees are satisfied to grow a strong franchise brand.
Strong Growth Prospects
Key to selling a franchise is to focus on the two kinds of growth in which an investor is most interested: the market for the products and services offered, and the prospects for growing one franchise into many.
Most franchise systems offer the former but also make multiunit growth feasible and encouraged to reward your successful franchisees. This will really make your franchise shine in the eyes of investors.
The franchise industry in South Africa is governed by the Consumer Protection Act 68 of 2008. Both the Disclosure Document and Franchise Agreement must be compliant for a Franchisor to legally take their franchise offering to market.
To safeguard yourself as the Franchisor and your franchisees, take the time and spend the funds to be sure that your documentation is compliant. The prospective franchisees you really want to attract, will see the difference, and will more seriously consider your offering.
This is what will set your franchise offering apart from your competitors. Be sure to emphasise your outstanding training that you provide regarding invaluable know-how, assisting franchisees in the early stages of their franchised business and that there is ongoing training. Excellent training is comprehensive and well organised and, is generally supported by informative materials that the franchisee can refer to whenever needed.
Don’t be same ole, same ole. Be the shining light when it comes to selling your franchises!
Yours sincerely, SA FRANCHISE BRANDS
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Remember to visit www.safranchisebrands.co.za for Franchise Opportunities.