- Posted by Martin McDonald
- On May 21, 2018
When it comes to finding new customers, you are an expert, but finding quality prospective franchisees for your business is another story altogether. Finding potential partners that are qualified to license operate your franchise can be quite the challenge if the appropriate steps are not taken, and the proper systems are not put in place. Finding the right people to represent your company through franchising can be difficult; however, if you follow these simple tips you will be on the right track!
1. Elevate your brand as an authority
Making your brand authority in the marketplace goes beyond simple brand awareness. You should strive to leverage your company’s professional knowledge as a resource for others, taking opportunities to join roundtables, webinars, and other presentation outlets as often as possible. Additionally, you should ensure that your presentations stand out and provide more value than your competitors. Be honest, clear and consistent. Doing this will build the trust of your customers and peers leading them to see you as an authority in your space. This also creates a very strong image in the eye of a potential franchise buyer causing them to want to be a part of your brand. A company that is knowledgeable about their industry and is well known for demonstrating that knowledge is attractive to the type of potential franchisees necessary to grow a franchise successfully.
2. Optimize your appeal to franchisees
While it may seem obvious, putting systems in place to support and build relationships with franchisees is often overlooked; franchisees want to partner with companies that will provide support and guide them to success. Treating franchisees as true partners, letting them see the inner workings of the company and offering strong support programs and communication helps to build the interest of potential partners and also builds rapport with current franchisees.
3. Build strong communication with your current and potential franchisees
Utilizing social media networks and other online communication tools can help your franchise stand out to prospective franchisees by offering extra guidance and troubleshooting as well as building community trust. Having these communication outlets helps to convert prospective franchisees into new partners, working similar to a customer funnel model. A franchisee prospect may have heard of your franchise, seen ads for your business and visited your website, yet disregarded or forgot your offering. Seeing the support and answers, you provide to current and prospective franchisees through social channels and communication outlets can help give interested parties the final push they need to commit to your franchise over the competition.
4. Use existing franchisees as advocates
Building relationships with current franchisees is an invaluable means of bringing in new, quality franchisee prospects. If franchisees are happy, they will be inclined to let others know, garnering the attention of prospects through word of mouth. Additionally, potential franchisees that are searching for a franchiser will have a higher opinion of companies that make their partners happy.
5. Curate a strong web presence
Keeping all facets of a company’s web strategy up to date is crucial in finding desirable potential franchisees. This goes beyond simple branding and corporate messaging; not only is it important to showcase what your company does, but you must also make an effort towards making it known that you offer franchise opportunities. After all, how can prospective franchisees find your company if they do not even know you offer franchise opportunities? Having a strong website will do this, but make it easy to find the franchise information. Some brands create a separate website to talk franchise but obscure the link on the main page, which makes it hard for a potential buyer to find the right information. Additionally, make sure to note what you are looking for in a franchisee and what makes your franchisees successful as this will help you to bring in the most qualified candidates.
6. Implement marketing strategies for your franchisees
A franchiser that provides marketing solutions for their partners is much more attractive to prospective franchisees because they know that they will be set up for success if they decide to sign on; when potential franchisees see that your franchise operators are successful, they will be more inclined to join your company. Implementing marketing strategies for your franchise holders adds value and drives their success, helping to attract the attention of even more potential franchisees. Find marketing strategies that are best suited for your franchise offerings and create packages tailored to your locations and franchisee goals. This is a value signal to potential franchise investors as it shows a corporate commitment to their success. Additionally, this helps to build good relationships with current franchise holders and elevates your company’s reputation.
7. Nobody Buys a Franchise To Get Into Digital Marketing So Hire an agency
While marketing strategies and packages can be beneficial to acquiring new, quality franchisees, developing franchise marketing strategies can be challenging. A well-known brand name, one of the key factors behind the decision to open a franchise can be beneficial; however, it must be paired with an effective advertising and marketing strategy. Local SEO, Organic Search Optimization, Video Ads (and production) along with Paid Search Ads (PPC + Facebook Ads) are all avenues to consider in your franchise marketing plan. However, for best results, you should hire a marketing agency to handle your franchise marketing efforts. If you are looking for an agency, we can help! Contact V Digital Services today and let us help you to find your ideal franchise marketing solution.