You're not a franchisor until you sell your first franchise.
(Franchise lawyers will disagree with me on that.)
Remember how excited you were during the franchise development process? You've probably been picturing 100's of franchise units scattered throughout the US and Canada for the past several months.
Hopefully, you worked with a franchise development team that was realisitc about the time that it's going to take to sell your first franchise. Right?
I hope that you didn't end up choosing a franchise development company that said, "Don't worry. once everything is legal, we'll help you sell your first few franchise units."
It's tough out there; there's an awful lot of noise.
Besides the fact that there are over 3,000 other franchise concepts competing for a smallish pool of would-be franchise owners, there are other things competing for space inside that prospecitve franchisee's head. Like;
- Job offers
- Existing businesses for sale
- Spousal pressures
- FEAR
- Confusion
- Finances
- The weather
Ok..I'm kidding about one of those. The point is this; your franchise concept, (as good as it might be) isn't the only thing on this person's mind. Sometimes, you have to get in front of them a little more.
You have to find out where they are gathering their information. (Hint; it's right in front of you.)
They are looking around online.
Sometimes, your prospective franchise buyer is learning about different opportunities on some of the better franchise opportunity portals. Like my strategic partner's.
Sometimes, they are looking for franchise news and articles that will give them some ideas. Lots of these prospective franchise buyers are looking for the newest things in franchising.
Eventually, lots of these eager buyers end up right here.
They may end up subscribing to my weekly newsletter. (Where I just so happen to gently mention new franchises, new products and new services of the small business/franchise variety.)
A gentle tip from The Franchise King®:
Do not buy a franchise until you know EXACTLY how to do thorough research.
Learn how here
They may pick up my feed, and add it to their Google Reader, or get it delivered to their inboxes. That way, they make sure they don't miss anything new and exciting with regards to the world of franchising.
Or, they may read a post like this one, and immediately request information from the franchise company representative.
Todays franchise buyers are a sharp bunch. They're getting their information from many different places. For these folks to move forward on anything, they have to feel that the infomation they are reading, (and where they found that information) is credible.
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"My King is the best in the business at bringing news, opinion, and industry data to the marketplace. Without his diligence we would not have that information from which to make our decisions." – Jerry Wilkerson, founder of Franchise Recruiters Ltd. and former president of the International Franchise Association
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If you're a new franchisor, we should talk.
I have a program just for you.
“I have known Joel for a number of years both personally and professionally. Joel is not only extremely knowledgeable about business and franchises, but he's a person of the highest integrity. I recommend Joel regularly and enthusiastically.”Jeff Nischwitz-Attorney/Entrepreneur
