If you want to sell a lot of new franchises in 2024, you need to have a good number of franchise sales leads. But how do you generate them?
With solid franchise lead generation strategies. And there are a lot of them.
With that in mind, let’s go over the top strategies one-by-one, so you can get a feel for the options available to you in 2024.
The Top Franchise Lead Generation Strategies For 2024
As you’re about to learn, there’s certainly no shortage of ways you can generate franchise sales leads. Here’s a list of them.
1. Franchise Websites
Maintaining a robust, well designed, speedy franchise website dedicated to franchise opportunities helps attract prospective franchisees. And leads.
Additionally, well optimized landing pages that are specifically designed for franchise information inquiries will go a long way in convincing potential new franchisees to fill out your “Request More Information” form.
That said, when it comes to franchise website development, there are lots of great choices.
In this particular instance, you can have your web developer design a professional looking franchise website using WordPress, Squarespace, Wix or any one of a number of web platforms that are readily available in 2024.
Finally, your franchise opportunity website needs to be SEO Optimized, so a lot of franchise sales leads can come your way.
This Strategy Is Popular
2. Franchise Sales Lead Generation Portals and Directories
Listing franchise opportunities on popular franchise directories and portals will help you reach a wider audience actively searching for franchise business opportunities in 2024. Would you like to know which franchising websites your franchise should be listed on? These.
And not only can you pay to get listed on franchise opportunity websites and portals, you can pay for individual franchise leads. It’s called “Pay Per Lead,” and here’s how it works.
The webmaster of the website creates a custom landing page featuring your franchise opportunity.
Once that’s done, a simple “Request More Information” form is placed on it. Check out this example.
Then, when a prospective franchisee fills out the form, it gets sent to your franchise development department as a franchise sales lead.
Then, in a perfect world, your sales rep follows up and converts the sales lead into a franchisee!
Cost-wise, leads like this cost anywhere from $20-$30 each. Maybe more, depending on how much traffic the site gets and other factors.
Regardless, this method of franchise lead generation will continue to be a major part of franchise lead generation efforts in 2024.
3. Digital Marketing
Your franchise website is only one facet of digital marketing for your franchise opportunity. But it’s the most important one, as ultimately, that’s where you want your franchise leads to land.
In addition to your website, you need to have a franchise blog in 2024.
That’s because today’s search engines love fresh content.
For example, your blog would be the perfect place to showcase new franchisees you have added to your system.
Other content you could add to your blog includes:
- New products and/or services you’re introducing
- Charities and charitable events your brand is involved with
- Helpful tips for would-be franchisees
- News about the franchise industry
Note: I can help create a blog for your franchise brand, like I did for Spring-Green Lawn Care, or if you already have one, I can write top-shelf articles for it either as a ghost-writer or as a Guest Author.
Finally, there are several other things that Digital Franchise Marketing includes. You’ll find them on this webpage.
4. Social Media Marketing In 2024
Marketing your franchise opportunity on social media sites is crucial for your success in 2024.
While different sites go in and out of favor, the premise is the same.
The late Charlie Munger said it best: “Fish where the fish are.”
In other words, it’s about reaching prospective franchisees where they are.
For instance, if they’re on Instagram, you need to create targeted marketing programs that attract people interested in becoming franchise owners.
(Image courtesy of the Peach Cobbler Factory franchise/Greg George on Instagram)
The same goes if they’re active on LinkedIn or Facebook.
Note: At this time, I’m telling my clients to NOT create Twitter (X) accounts.
That’s because it’s owner, Elon Musk, has turned the platform into a cesspool of hate, racism, and anti-Semitism. It’s not a place for franchisors who want to shine a positive light on their brand.
Your marketing team needs to create unique Social Media lead programs to attract new franchisees.
Finally, don’t forget local Social Media Marketing. Why?
Because you can highlight local franchisee success stories and community involvement to attract candidates interested in opening franchise businesses in those geographic areas.
Get Some Press!
5. PR & Press Releases
I believe in Press Releases. As long as they’re done right.
Translation: the topic needs to be newsworthy.
With that in mind, you could write Press Releases yourself, but I feel it’s money well spend to have the total package.
In this case, the total package means hiring a Public Relations firm familiar with franchising. Why?
Because it’s their job to create buzz and awareness about your franchise opportunity and your brand.
That means Press Releases, media interviews, and local media coverage.
In this case, the type of coverage that can attract aspiring franchise owners to your website.
6. Franchise Exhibitions and Trade Shows
Have you thought about exhibiting at a franchise show? You may want to. Talk about targeted marketing…
Investing in a booth at a franchise event brings lots of eyes to your brand. A lot of franchise seekers who may not have heard of your franchise opportunity.
Additionally, when folks stop at your booth, you can grab their contact information…their email addresses. That means your franchise development team will have a list of aspiring franchisees to follow up with. People who may eventually become franchisees of your brand.
Here are a few franchise expos coming up in the near future you may want to participate in.
7. Local Franchise Showcases
In addition to national franchise shows, you may find an opportunity to participate in local or regional franchise showcases.
Normally put on my franchise brokers, these showcases feature around 10 franchisors who are provided an opportunity to present their franchise concepts.
They do cost money to participate in, but you may be able to secure some good leads while increasing your brand’s visibility.
Wanted: Your Thoughts
8. Thought Leadership
Sometimes, franchise lead generation requires one to think differently.
And if you have a blog and/or a YouTube channel, you have a wonderful opportunity to promote your franchise opportunity through thought leadership.
Do you have a strong opinion about a franchising topic? Or a topic related to the sector of franchising you’re in? If so, write about it on your blog. Do a video. Both?
Heck, you can have your PR person create a Press Release out of it.
But it needs to be thought-provoking.
And the best part?
Hardly anyone in franchising does it.
Given that, it’s a unique way to get franchise sales leads for your development team.
Note: speaking of thought leadership, consider adding articles written by industry experts to your blog. Why?
Because doing so will add add even more credibility to your franchising website, and with it, potentially higher rankings on the search engines. But it’s not just me saying this.
“2024 will witness a greater emphasis on establishing the credibility of authors through thought leadership. Search engines must recognize that your content is supported by credible industry figures, thereby ensuring its usefulness and relevance.”
– Himani Kankaria — Founder, Missive Digital
9. Podcast Interviews
You need to get interviewed on podcasts that prospective franchisees listen to.
I’m talking about franchise podcasts, entrepreneurial podcasts, and any other podcasts that would be a good fit for your brand. And it’s not difficult to score these interviews.
Yes, really. That’s because your PR person can arrange some interviews.
And if you’ve produced some thought leadership content, it’s even easier to get on podcasts.
An Expensive, But Effective Way To Get Franchise Sales Leads
10. Franchise Brokers
A small, but growing number of franchisors seeking new franchisees use franchise brokers for lead generation.
In a nutshell, franchise brokers-also called franchise consultants or franchise coaches, assist potential franchisees in finding suitable opportunities. In essence, they’re franchise opportunity matchmakers. The best part?
You don’t pay* them unless a lead they bring you signs your franchise agreement and pays your franchise fee.
*I need to add something.
Today’s franchise brokerage groups are now requiring franchisors to pay an upfront fee to become part of the group’s inventory of franchise opportunities.
FYI: paying for leads through franchise brokers is expensive.
If one of their franchise opportunity leads becomes a franchisee of yours, you’ll need to write a check for 40%-50% of your franchise fee.
So if you can afford to write a $20,000 check each time a franchising broker sends you a lead that becomes a franchisee, this is something you may want to look into.
Finally, some franchise brokers are better than others. Vet them.
11. Referral Programs
Referral programs are super-easy to implement, and suprisingly, they’re a great way to sign new franchise owners.
Specifically, all you need to do is encourage your existing franchisees to refer potential investors in exchange for a referral fee. That’s it. Let’s think about this idea for a moment.
Can you name one franchisee in your system who would turn down $5,000 for sending a prospective franchisee your way that becomes an owner? Exactly.
As a matter of fact, your franchisees don’t even need to say much.
Just put a “Franchise Opportunities Available” sign in the business with a signup form that can be tracked to that location. That way, the franchisee can still get paid. Easy-peasy.
PPC And More
As long as it’s targeted, advertising for new franchise owners can and does work.
For example, besides web advertising, you can buy ad space in franchising industry-specific publications, both online and in print that can generate leads. These publications specifically target individuals interested in franchise and business opportunities.
If you have the money, placing ads or sponsored content in these publications allows you to effectively reach a niche audience actively seeking franchise opportunities.
Of course you can also advertise on social media and/or do Pay Per Click (PPC) campaigns using Google AdWords and the like. Lots of franchisors do it. Franchisees too.
Just make sure you filter your ads demographically, so you won’t waste money showing ads to people who either aren’t interested or aren’t financially qualified to purchase your franchise.
On Franchise Lead Strategies For 2024
As you’ve learned, there are lots of ways for you to get franchise leads in 2024. The trick for you is to find one or two of them that work.
Will you have to experiment?
Will you need to invest a portion of your new franchisee marketing money?
But as long as you get a decent ROI, it will be worth it. Why?
Because you’ll have a franchise system that’s continually growing.
And that, my friend, is where the money’s at.
P.S. if you’d like help with franchise lead generation, I can do a number of the things I shared above. Things that can get your email inbox humming and your phones ringing. Let’s talk.