As a start-up or emerging franchisor, developing and growing your franchise system requires franchise development strategies that balance your budget and available capital with a realistic growth strategy that attracts and on-boards qualified franchisees. Many emerging franchisors fail to succeed and suffer “franchise fatigue” because their rely on development strategies that are either outdated or just don’t work.
Below we discuss what franchise development is and franchise development strategies for emerging franchisors.
If you are not yet a franchisor and are interested in franchising, read our Ultimate Guide to Franchising Your Business. To learn more about how we can help your build and grow your franchise system call our team at (800) 976-4904 or by email.
Franchise development is the process by which a franchisor develops and implements a business plan and strategy focused on:
(a) FDD and Legal Development – developing, maintaining, and registering a FDD and the legal infrastructure for selling franchises
(b) Franchise Sales – marketing to prospective franchisees;
(c) Franchisee Qualification – qualifying franchisees and selling franchises;
(d) Franchisee Training – training and on-boarding new franchisees;
(e) Unit Growth – growing franchise system unit growth; and
(f) Franchisee Profitability – enhancing franchisee profitability.
No matter the stage or size of your franchise system, franchise development is an on-going process and should be focused on goal setting and a plan of action implemented in stages over a 1, 2, 3, 4 and 5 year period.
One critical element of the franchise development process involves franchise sales marketing and attracting qualified franchisees. This is a big issue for emerging franchisors as they are competing with the much bigger budgets of the larger brands and a marketplace where it’s difficult to get the attention of franchise brokers and industry influencers.
As an emerging franchisor you need to fight a different fight than the bigger brands and you need to strategically leverage your brand. To do this, you need to dig deep and spend the time, energy and effort to leverage direct response marketing focused on telling your franchisee prospects the compelling story behind your brand and what makes your franchise a unique opportunity that will help transform the lives of your perfect franchisees.
Below we discuss the systemic “me too” marketing problem that has harmed and wasted the dollars of so many emerging franchisors. We also discuss the solution and a plan of action.
THE PROBLEM: As an emerging franchisor you have structural hurdles that you must overcome. These hurdles include a limited budget, larger competitors and a trust issue in finding a franchise development team that is committed to putting your system on the right track and obtaining real results and not just sell you services.
THE ANSWER: The answer is one that is far too often overlooked the vast majority of so-called marketing, SEO and franchise development “experts”. The answer is “direct response marketing, understanding the principals of direct response marketing and to deploy these principals in your franchisee attraction and conversion process. The “answer” that direct response marketing offers involves a process that involves:
Every year emerging franchisors waste thousands of dollars on consultants, websites, SEO experts, social media and other marketing channels without giving themselves a chance for real success. That is, these emerging franchisors jump in a massively crowded marketplace without first distinguishing their system and marketing message through a precise USP and through a direct response marketing program designed to maximize their chances for success.
The services that we offer are all about direct response marketing and allowing emerging franchisor outmaneuver their much larger competitors on a much smaller budget and with more personalized precision. We do this by harnessing the Direct Response Marketing funnel and through development of marketing programs that are integrated with one another. These services include:
Before spending one dollar on any marketing channel or marketing medium. Our focus is on your system and working with you in understanding and defining the USP that you offer to prospective franchisees. This USP is not just some slogan and must be a genuine differentiator for those prospects that, for you, would be your “perfect franchisee”.
Only after we uncover your genuine USP – one that is compelling and real – do we begin to develop media designed to attract your perfect franchisee. The media that we develop is not focused on the “sell” but, rather, on establishing a trusted dialogue with your perfect franchisee. Our media development includes:
Keep in mind and consider that our media development is all focused on a call to action that is designed to lead your perfect franchisee into your franchisee conversion funnel. Rather than wasting dollars on ads and media focused on a quick sell which almost never materializes, we are focused on building your lists and engaging in active communications with your prospects.
At the heart of your direct response marketing will be a CRM system that will enable you to automatically capture leads, maintain and manage your prospective franchisee lists and automate short-term and long-term drip campaigns. Our CRM services, include:
Like many other emerging franchisors we are sure that you may be tired of solicitations from vendors that are interested in selling you “things”. Before investing in your franchise marketing and development process it is critical that you understand your USP and how to effectively deploy direct response marketing.
For a free 45 minute strategic franchise assessment, contact us at (800) 976-4904 or by email.
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