Francorp - Franchise Sales Strategies

Franchise Sales Strategies:
Christopher James Conner
Vice President
Francorp Consulting

As the Franchise World continues to move towards technology like all other industries, more and more sales processes become automated, it becomes easier and easier to forget and lose the most critical ingredient of what has made salespeople successful for centuries, "Building Relationships."

People still buy from people they like and that they can relate to. Technology can't create this, it can only enhance what we as salespeople do during the process. To most potential customers, all the "fluff" becomes white noise and people don't read or listen to mass emails and bombardment of marketing materials.

It is up to the franchise sales professional to create a feeling of caring for the potential franchisees future. The sales process should evoke a sense of "mutual exploration" for both the candidate and the sales person.

Initial contact for a franchise sales person needs to be through the phone. I have never awarded a franchise solely through email contact. This is an enormous decision for most franchise buyers, a cold email and information requests don't convey very much sincerity to a prospective franchisee. Most franchise buyers are refinancing homes or closing out 401k's to make this possible, they must feel very confident in the franchise sales person to pull the trigger on a decision as big as this.

It is important for the franchise sales person to combine emails with phone calls, the prospect should know your voice as well as personal background about the franchise sales person....after all, isn't that what "building a relationship" is all about!?! The franchise sales person should think of themselves as a consultant, work with the franchisee by taking a personal interest in their success.

The initial phone call should be to set an appointment, don't jump into the sale! A franchise sale sis very different from most sales where you are providing a traditional good or service. This is a partnership we are selling now. The first call should be an explanation as to what the next call will cover.

The first phone appointment is about the customer! Remember you should be doing no more than 25% of the talking! If you find that you are doing most of the talking during the call....it probably isn't going very well. Key points to cover during this appointment, timing, why should they be looking at franchising now? Background, what is your level of interest in franchising and why? Goals, what would you like to achieve through franchising? Where, what locations would you like to consider opening the franchise? When it comes down to it, people really don't care about how smart you are until you show concern for their well being and interests.

Here is an acronym we use at Francorp when describing franchise sales. The franchise sales person should strive to be a "Star".

S - Support - Family, Friends and Peers
T - Timing - Now is the right time for Franchising
A - Assets - Building wealth through owning your own business.
R - Recreation - It's fun and exciting!

Building a relationship with a potential franchisee unlocks unbiased information from a franchise candidate, this allows the franchise sales person to make legitimate recommendations. Typically the most guarded area of information will be in regards to financial well being - franchise buyers will not be up front about financial facts until they fell comfortable with a franchise sales person. It is impossible for you as the sales person to provide valuable assistance for them without accurate information! Build the relationship first, then the information will be unbiased and your recommendations will be authentic.

Franchise buyers, much like any other buyer want to feel that they are getting involved with people who are like them. A big part of the franchise sale is drawing connections with the buyer and making examples of existing franchisees who are similar to the prospective buyer. Throughout the sales process, it is important for franchise sales people to remember that the franchise opportunity they are selling is just that....an opportunity. People who are awarded the right to operate as a franchisee will unlock their financial future, this should be about helping people!

www.francorp.com

www.francorpconnect.com