Franchising Trends
Getting good franchisees is one of the major factors that determine whether the company will succeed as a franchisor. So, every franchisor is looking for various ways to get as many new franchisees as possible. Now, not everyone who inquires about the franchise business for sale offers become a franchisee; and the ratio of conversion of queries into franchise agreements will tell how effective that lead generation system is. Here are some common lead generation methods that you have to pursue as a franchisor:
• Trade shows: Franchise associations like International Franchise Association (IFA) regularly organize franchising trade shows in different parts of US. Having a booth in such a show will bring you in direct contact with people interested in starting a franchise. Many fill out the inquiry forms, but only some of them contact the relevant persons (your franchise team or a sub-franchisor under you) after the show is over. So, lead generation is not that much effective through this avenue. Add to that the increased costs related to travel, and it becomes more expensive for you to send a team to trade shows.
• Official Website: Everyone knows that the Internet is the place to gather information for practically everything. So, if you are starting a franchise wing, don’t forget to add that section in your home page. You can give information about the franchise fees and related costs, the training and support system you are going to provide and also the latest press releases and associated news of your franchise business. There should also be a section through which interested candidates can contact you for further information. But, lead generation through official website can be effective, if you have an established brand-name. If you are a new player, people, who are not aware of your business, may miss your company while looking at different franchise opportunities. And how do you reach people who may have considered you franchise category, but haven’t thought about your particular concept?
• Using lead generation services: There are many franchise-related websites in the cyber world that are the first reference point for people looking forward to buy a franchise. These types of services offer a much higher rate of return for franchisors. But many of these services offer a monthly fee, with no guarantee of the number of leads. brandEXPANSION’s Advertising and Lead Generation Sponsor Program lets you determine how many leads you want per month and you have to pay only for them! It also offers services to pre-screen and pre-qualify the candidates if you’d like. Learn more about this form of lead generation, or view our media kit.
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