Are You Making these Mistakes trying to Sell Franchises Faster?

Posted by Joe Caruso  |  category Sales

Many franchisors announce great plans to expand. 

Yet, the same franchisors have a lead to close sales cycle greater than 90 days.  There is a good scientific reason for this - the commitment process takes at least that long to take hold.

Executives in franchise companies then get frustrated by the length of the sales cycle. The reality didn't meet their expectations of success.

(Credit to Jessie Kay Graphics)

And so, they will instruct their franchise sales teams to shorten the sales cycle. They'll ask "How come we can't close these franchise sales faster"? Why does it take as long as it does?"

They will give some "suggestions".

But, here are five things you cannot do.

• Eliminating steps in your franchise sales process for expediency only.

• Show it all- putting everything a candidate could potentially want to know before they buy a franchise on your website.

• Sending overloaded emails with too much information -more than your prospect can read.

• Unlocking all the "doors" on your franchise sales automation CRM

• Bringing in franchise candidates for Discovery Day too early and when they are not ready to buy

Your franchise sales process isn't really about you or the company. It's about the franchisees you're recruiting. 

When you need some real suggestions, why not contact us for a sales assessment?

Of course you have financial and operational qualification standards that ensure you are recruiting the right kind of talent and capital for your franchise system.

But the process is for the franchise buyer and it needs be graceful, thoughtful and meaningful to them & their goals.

And, when you do the 5 things I've listed or things like them you are losing control of the process by chasing a reduction in process time.

You send all your franchise information upfront in the process and you've got nothing left to talk with prospect about!  

You have the remainder of the 60 days left. What are you going to do? You've got nothing left to say other than "buy my franchise" and your buyer isn't ready and may have already stopped responding to your calls and email messages.

Take and keep control of your sales process and cycle. 

Look at your history for the last 3-5 years and measure the time buyers take to buy your franchise.

Do take a hard look at your franchise sales process to make sure it is graceful, thoughtful and meaningful so it works for your prospective franchisees and you.

Stop rushing, be patient and do persist. 

And if you need some help, why contact us for a sales assessment?  I have been building franchise recruitment systems for over 20 years, pretty sure I can help you with your franchise recruitment system.

Tags: How Can I Speed Up My Franchise Sales Process?

February 18, 2014 01:29 PM