Profile of a would be franchisee
One of the challenges of finding highly quality franchisees is that a franchisee could potentially be anyone from any profession or walk of life. For this reason finding and recruiting the right franchisees for your system has historically been a slow and expensive process. So what do we know about people that buy franchises and how can we use this information to improve our approach? From my experience anyone that invests in a franchise has the following in common. They are:
- Aspirational (looking for a better future)
- Dissatisfied (with their current situation)
- Cautious (as change equals risk)
- Prepared to be led (wanting to be ethically guided into a better future)
It’s all changeHistorically anyone considering a franchise has had to rely on the validity of sales content produced and controlled by the franchisor. This has been the case with printed and electronic media. Today however the reputation of a franchise can be seen via comments that are posted by the franchisor, franchisees, staff and clients through various social media accounts. This means that operations and sales become very closely tied. The public reputation of operations can significantly influence lead flow and sales.
No one thing worksUnderstanding content marketing and engagement strategies across multiple forms of media is now key. The many parts make up the whole picture. No longer can we rely on single channel marketing to get results. Each element of visibility impacts on the other. Savvy buyers know this and are using all information available to them in research. So where does the would be franchisee go to get their information about your franchise? Increasing ‘Everywhere’ and that is where every franchise business needs to be also.
Connect with Nick Strong
Franchise Intelligence Managing Director
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