What can we do to recruit franchisees is a question the Association is asked daily. What do you do when you’ve done all the right marketing but still not getting buyers to sign on the dotted line? You continue with your marketing efforts while at the same time taking a step back to evaluate everything in your business.
Timing is everything. If you are just starting out and still new to social media marketing, you cannot expect overnight success. It can happen but it is extremely rare. It is also safe to say that the competition is fierce on social media, you are not the only business looking for leads.
If you use social media to market your business you will need to put in the time, money and human resources. As the owner of the business, you care the most about making the business a success and the best way you can do this is to have your ear to the ground. Never before in history has it been so easy to have access to information. Literally at your fingertips. It is your most powerful resource. Make time to fully understand your customer’s needs, observe conversations on the internet in your industry sector. Observe conversations taking place in the general space. Connect with your customers and listen to their conversations. Research future trends and pay attention to the money markets, what are they saying? Observe what people are posting on all different channels, the people you spend most of your time with, your influencers, your interests. What are people up to? What are people interested in?
You may have been around for a long time, actively marketing your business and people know about your business but things are slow and you feel you are not making headway. This can result in panic and frustration. When this happens people tend to go around in circles doing the same thing over and over hoping it will go back to normal. Not good for your immune system, nor is it good for your business, your family or your mind and creativity.
Market and the Economy
It is easy to forget that when faced with challenges you will find 3 main groups of people.
- People who are quick to act and adapt easily.
- People who are slow to embrace change and often sit on the fence.
- And people who resist any form of change and like things to stay the same.
In uncertain times people tend to hold onto what they have and are more reluctant to spend money. Those who have bought today have most likely already either bought from you or someone else. Not everyone is ready to buy from you today, it does not mean that they won’t buy from you in the future. You want to position yourself as the go-to person so that when the next wave of people embrace change, you are on top of mindeady and open for business. These are your tomorrow’s customers. These customers need nurturing until such time as life pushes them into an uncomfortable reality so that they take the next step.
This pandemic has turned people upside down emotionally, mentally, physically and financially. Many right now don’t have a choice and to go through whatever life is throwing at them right now. Whilst your goal is to recruit franchisees, how about shifting your focus and use this opportunity to look at your business and ask yourself,
- Am I genuinely offering the best deal?
- What improvements have I made to my business lately?
- What is causing a potential buyer to hold off? What is stopping them from signing on the dotted line?
- Have I done everything I can to future-proof my business?
- When last did I visit the sales and follow-up process, is it working?
- When last did I check in with my existing and past customers to find out how they are doing?
- What are you currently doing to generate leads or recruit franchisees?
Having a sound business model with all the ticks and checkpoints in place would be easier to sell to a potential franchisee than a business that has no proper documents in place, or a professional website, or a business that does no marketing. The list goes on. The other day I had a client who has a greate business offer ask me to market his business. I had to respond that until his website was in good order there is no way I could market his business because it’s his shop window.
These are areas in many businesses where money and leads are lost. You may have the best offer in the world but if you are not marketing, no one will know you exist. You may be generating leads but are they converting into sales? Are their areas in your business you can automate? How well do you know your customers?
Offering the best deal
- TouchPoints and connection points.
- Have you tested your sign-up process lately?
- Are your documents, privacy policies and terms and conditions in place?
- What is the follow-up process in sales?
- Is there a database, is it up to date?
- These are just a few ideas to improve your systems and processes. We can all allocate time in this area to make improvements. Why does this matter?
TouchPoints (Contact Point)
These are your end-user points. Website, Contact us pages, reception, newsletter sign-ups, social media, email, newsletters, sales agents, webinars, workshops, expo’s, events.
When recruiting franchisees, if someone contacts your organization and they are not given a follow-up, you could be losing good leads. It is so easy to lose contact requests with all these rules and regulations. Platforms have such strong security systems in place that emails often land up in spam folders and or lost in communication. Have you checked in here lately?
With system updates taking place almost daily, one has to constantly check that all things are working.
The follow-up process
If someone has made an enquiry, what happens afterwards? Does someone contact them via email, then what? Let’s say they don’t qualify today, how are you helping them to qualify in the future. Your future franchisees? Are you giving them further guidance or training?
How is your database managed? Are you keeping good records of your contacts are? Are you sending relevant information to them to help them become franchisees or your future customers?
Start with Attention to Detail
What areas in your business can you focus on today that will help you find customers and recruit franchisees now and in the future. You will be surprised how small things, can put off a potential buyer. See how you can future-proof your business, If you are sick in bed, think of customers who are ill in bed or stuck at home, how is your business catering to their needs? Is there a market you are losing out on?
Use your time wisely, instead of worrying about whether or not you are doing enough marketing. You most likely are and possibly overdoing it. If you have loopholes in your business you could also be wasting money because you could be losing leads. Meaning, take a step back and revisit all the elements that makes your business a business.
What can you do today that will help you recruit franchisees now and in the future? You will be surprised how little things can put off a potential buyer.
- Could this be why you are not recruiting franchisees? - 28th May 2021
- Franchising your business, what can go wrong when doing it yourself? - 3rd May 2021
- How Cash Converters drove business efficiencies at the start of the pandemic - 15th April 2021