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Franchise sales

Who to Outsource Franchise Development to

Who to outsource franchise development to
After you have made the decision to outsource, the next logical question is who to outsource franchise development to. If you haven’t already made that decision, check out our article Why outsource franchise development to decide if outsourcing is for you. To find the right company, here is what you should be looking for.
Experience
This is likely the most important consideration when outsourcing franchise development. Many outsource companies have little or no real world experience as franchisors, franchisees, or small business owners. We recommend finding a company where the leadership has experience in most of these areas, and preferably all three.
Franchisor Experience:
This lets them understand what it is like to be in your shoes. If they have made the decisions that you are faced with they can give you actual advice instead of “theory”.
Franchisee Experience:
If your franchise development team has someone on staff with franchisee experience, they know what it’s like from the other side of the isle. They can help guide you towards decisions that support both the needs of your system and the needs of your individual franchisees.
Small Business Owners:
Going into business for yourself, either independently or as a franchisee, is a major step in life, and has long-lasting consequences. As such, it can be scary! When your franchise development team has this experience, they can help guide your prospect through this decision-making process because they understand the unspoken fears.
Results
Experience is nice, and necessary, but so are results. When you are selecting what company to outsource franchise development to, make sure they are a results-oriented company with a proven track record. That brings us to the next point:
Reputation
Similar to results, the company’s reputation is equally important. Talk to […]

How do I franchise my business?

How do I franchise my business?
This is the question we hear a lot, and most likely why you are on our site right now. You are wondering, “How do I franchise my business”? The majority of our site is really dedicated to showing you how to franchise your business, but we wanted to lay out, on one page, a simple answer to this question. Of course its not a simple answer, feel free to check out our book on franchising our blog posts, or why franchising makes sense.

So, in short form, here is the answer to the question “how do I franchise my business”?
Become an expert at your business.
If you are an owner operator, you likely often run your business reactively; when issues arise you react to them. Your current business is a sum total of those reactions. When it comes time to franchise your business, however, you have to proactively understand how your business runs. You have to know what situations a business owner in your field might encounter, and how to handle them. The first step when wondering how to franchise your business is to become an expert in your business.
Document Everything
When you ask, “how do I franchise my business”, what you are really asking is “how do I teach other people what I know to be successful in the space that I am in”? The simple answer to that is document everything. You should begin paying attention to what you and your employees do on an hourly, daily, weekly, and monthly basis and documenting every step. Don’t worry about the format, for now, just write it down.
Do a franchise feasibility study
You may wonder why a franchise feasibility study is so far […]

Technology in franchising

This article first ran at franchise-update.com under their Challenge the Pros section.
Challenge the Pros
“How are technological changes affecting how you recruit, and how are the latest tools changing how your development department does its job?”
Charles Franklin
Vice President of Franchise Development
Play N Trade
Technology has become an essential part of every portion of the franchisee recruitment process. We are constantly trying to stay ahead of the technology curve. From the “old school” platforms of online paid directories to social media and other instant-reach platforms to employing an enterprise-solution CRM, technological changes are affecting how we manage every facet of our franchise development efforts. Technology in franchising must be a consideration for every franchisor looking to grow their brand.

Once we receive an inquiry from a prospective candidate, we truly bring our technologies to bear. Through the use of web-to-lead functionality and an auto-responder we can give an immediate response to all inquiries. Assignment rules ensure that the first attempt at live contact happens within minutes. After pre-qualification we conduct several live presentations sharing our desktop as we work them through the mutual evaluation process. All information and interactions are kept in a cloud database that can be accessed anytime, anywhere, from any computer or smartphone in the world.

Every effort, from initial advertising to the final closing attempt, needs to be quantified and tracked. Technology allows for extensive measuring of the metrics of sales performance as well. Not only do we track our advertising spends to identify where our advertising dollars are best being spent, we use our CRM to track stages of lead progression, to identify where potential bottlenecks might exist in the process and set key performance indicators, and at the same time assess each stage […]