Franchising your brand is one of the most fruitful ways for business owners to expand into new territories and make their company exponentially more profitable.
Through the paradigm of a franchise, franchisees pay to use the franchisor’s business model, trademarks, and other proprietary methods and concepts.
Franchisors, on the other hand, help franchisees to perfectly emulate what has already been forged by helping them with training, advertising, and other forms of professional support.
As a franchisor, one of your top priorities is to attract quality franchisees to your business. That, however, is not an easy task. Selecting the wrong candidates can negatively impact your brand and end up costing you a significant amount of time, money, and embarrassment. It’s important to understand what you are looking for in a franchisee.
If your company is ready to expand to new heights, you need to know how to find the right folks to represent your brand.
Here are 5 ways to attract the right people and grow your brand into a franchise.
#1: Leverage the Power of Webinars
If you are seeking out new business partners for your brand, using webinars to promote your franchise enables you to easily reach across borders to find new prospects. This is a seamless method for connecting with a crowd of people who may be in different locations, but are nonetheless interested in your business model.
Webinars provide business owners with a forum to communicate with sizeable audiences, while investing minimal time, resources, and effort.
Leveraging webinar services like ClickMeeting provides business owners with a suite of tools that create professional-grade presentations without breaking the bank.
This type of platform includes email messaging for invites, branding options for integrating your logo and colors, screen sharing elements, presentation tools, and so many other useful components.
Additionally, you can also record webinars and post them to your website for potential prospects who are interested, yet must wait for your next presentation.
#2: Get on the Right Lists
Business-focused websites like Entrepreneur feature lists of franchise opportunities that are currently available.
This is important not only because potential franchisees may find you here, but because a myriad of publications often write about the topic and link to such resources (kind of like we just did).
Moreover, certain publications will write industry-specific lists about the best franchising opportunities available at the time. But if your brand isn’t on these lists, you probably won’t be featured, and therefore, won’t draw any attention.
#3: Leverage a Franchise Recruitment Website
Employing a franchise recruitment website is vital for finding the right candidates; of course, be sure to link to this site from your consumer-focused destination.
Utilizing this type of resource not only shows prospects how serious you are about franchising, it is also vital to target remarketing campaigns at those who seem interested, but didn’t follow through.
Prospects who visit this site will be able to quickly determine if your brand appeals to them as they discover and engage with franchise-focused content. Moreover, this site should drive potential franchisees to fill out an inquiry form so that the next steps can be taken.
Depending on the type of franchisee that you are after, your site should feature content that speaks directly toward your target audience. For instance, if you are attempting to capture a younger crowd, your site should utilize relevant language and employ video content that aims to resonate with this audience.
#4: Identify Brand Advocates
Brand advocates can be identified through several avenues.
First, if your business already has a successful franchisee or two, encourage them to reach out to potential contacts who might also be interested in leveraging your brand name.
Additionally, you could highlight any successful franchisees you might have in a marketing campaign by showcasing their transformative stories. This is likely to be a great motivator for many who have been considering such an opportunity, but have yet to pursue it.
Alternatively reaching out to social media followers who are already vehement advocates for your brand could be the exact nudge a person needs to find the courage to take the dive into becoming a quasi-business owner.
#5: Attend Relevant Industry Events
Franchise industry trade shows are another excellent resource for franchisors to attract compelling prospects.
This strategy helps to make your brand visible to an audience that is already interested in the idea of franchising. Some events that you may want to consider attending include:
- Franchise Expo West
- Emerging Franchisor Conference
- Multi-Unit Franchising Conference
- Restaurant Finance and Development Conference
The key here is to stay clear of employing flashy booths or other gimmicks meant to lure attendees. Instead, focus on presenting your brand as a consistent, professional, transparent entity that values its employees and potential franchisees.
Moreover, if you seek to increase your brand’s visibility and awareness, conference websites often feature sponsorship and speaking opportunities to businesses that attend.
If you do elect to go this route, be sure to submit your speaking proposal well in advance (six months to a year) so that it can be reviewed and approved by the necessary authorities.
Also, consider participating in discussion panels or roundtables to help bolster your brand’s recognition at such events.
Growing your franchise business or seeking out your first franchisee is as rewarding as it is challenging. Remember to have a clear and profitable business model, brand credibility, and a strong case for making an investment and you will stand out from the pack. Additionally, find someone who has the skills and passion to represent and care for your brand name in an appropriate manner.
By leveraging these tactics, you greatly increase your chances of finding the perfect prospects to turn into franchisees and expand your business to greater heights than you could ever dream of doing alone.