Times have changed...

The funny thing is that most franchisors have not noticed, let alone reacted to their declining interest from potential franchisees. 

In the “good old days”, well, pre-Internet domination and prior to websites becoming so strong, franchise recruitment personnel were able to run ads in Saturday’s newspapers and enjoy their weekend knowing on Monday the phone would be ringing with people looking to purchase their franchises. 

Now, potential buyers call whenever they feel like it, and they are looking for opportunities 24/7 and this is where the problem for marketing your franchises is. 

You need to consider this buyer search pattern and understand how competitive it is now for buyers. There are so many more franchises and general businesses to choose from than there was just 10 years ago.

 Therefore, one of the first questions you need to ask yourself about your franchise offer is “Why is our business more attractive than the others?” because the buyers are asking themselves “Is this franchise brand attractive and worth investing in it or should I move on and look at something else?”

Once you have examined these questions, how do you then show buyers that your franchise is the right one for them? The answer is a simple one but a complicated one to implement. Here is the answer. 

Building relationships with potential buyers before they contact you 

Today’s buyers are looking and researching what interests them all the time, 24/7. It is just so easy now with the ability to research as deep as they wish via various sources online. It is now clear that this is happening, so how are you using this knowledge to inspire people to join your franchise system? Are you using modern marketing methods? 

Modern marketing methods such as video, social media and other online platforms to grow your presence are crucial to stand out and make sure buyers take notice. At last count in our business at the Finn Group, we have made over 500 videos now as part of “telling our story” to the market place and beyond. 

We recognised that video is that important going forward to what we do, that we have built a video studio at our head office. 

But that is not all you need to do. The content needs to be inspiring and skewed towards building a relationship with your potential buyers so they trust you and your brand. Do this well and your website traffic will increase, and this is the next thing that you need to ensure is right. 

It is crucial that you know what is driving potential buyers to your website, as there is a risk that, if you do not know what that is, you could cut out marketing that is already working well for you in the bigger picture. 

Building a relationship with buyers and your brand 

Brand relationships with potential buyers do not happen overnight, as building trust and awareness of what your offer is takes time. You will need to build a consistent and systemised approach with this type of marketing program. 

Just remember, you want to be on their screens and in front of them on multiple occasions, and that is best done across multiple marketing platform types. These could and would include a combination of buyer directory websites, banner adverts, AdWords, SEO, some targeted printed, face-to-face at franchise recruitment-type expos and so on. 

Success is achieved via your “pot” of marketing spend, and it is important to not become “blinkered” by a very narrow approach to your presence in the opportunity seeker marketplace. Spread informative content about your brand and what you do far and wide. 

Keep interacting with your potential franchisees and building trust that you are reputable and trustworthy via constantly “telling your story” at every opportunity. 

Do this well and you will have more well-researched, qualified buyers calling you interested in your franchise opportunities. I know this first hand, as it has worked very well for us in our business.