08 Sep, 2017

Franchise Sales

Everyone envisages financial freedom and hopes to reap maximum benefits in their investment in franchises. However, many are the times when this may not come true. There are times when the franchise sales could be flagging. It is important to acknowledge that your response to this will determine the success of the business. One thing that you would acknowledge is that there are various things that could be causing lagging franchise sales. You would need to look into these areas in order to determine the best response to the lagging sales. To begin with, it would be important that you look into your lead flow. There are various things that would cause a low lead flow. These could be inactive marketing avenues, portals and marketing messages. It would be important that you do not carry out a total change at once since you would be changing too many variables therefore making it impossible to point out what leads to an increase or decrease. On the same note, it would be important that you pay your attention to your lead qualifications. How do you qualify the prospective franchisees? Do you monitor what the sales people of the franchise say? It would be important that you hold onto your program or else you would be having meetings and discovery days with people who would only waste time. Another area that you should evaluate is the franchise sales agents or brokers. It is always advisable that you do not use brokers since they would only eat into your franchise fee while incorporating conflicting interests. Nevertheless, you cannot ignore the importance of incorporating brokers to supplement your in-house marketing team. However, take precaution as to the company you will be working with. Disengage the brokerage company if it adds no value to your business. Next, you should look into the sales people that you have engaged. As you may acknowledge, these have a direct link to the franchise sales. As much as the creator of the company would be the most passionate person in selling the business, it would be important that you evaluate whether the salespeople engaged are truly the right ones. Looking into their individual performance would be imperative. Let go of the non-performing ones and engage people who can sell. However, it would also place a burden on you to look at their compensation. Motivating them enough may actually do the trick.