Winds of change in franchise sales

Winds of change in franchise sales

By SirGerardThe1st | Franchise matters | 13 Jun 2020


As technology is overwhelming us in every aspect of our lives, it is expected that this will also affect the franchise industry, particularly in obtaining leads that can become franchisees. This forces us, who work in the industry, to improve our business practices and to strongly change , in some cases, the strategy and tactics of approach.


1- WHAT? First, it is necessary to take into account that people now, more than ever, have access to lots of information available on the cloud. Much of this information is "junk" but whoever reads it doesn't know, so many times misconceptions have to be corrected during conversations with a prospect. But regardless of the quality of information, what we must ensure is that our company information is instantly available anywhere and on any device, because today, any potential buyer expects that. The only thing that mobile devices have achieved is raising expectations of anxiety to get certain information, and people expect quality content now and not later, especially if you're trying to sell them something.

So what does it mean for a brand today "to offer a franchise"? More than ever, precisely because of the noise that surrounds us today, to offer a franchise means to offer a clear value proposition, a very clear differentiation from competitors, competitive advantage, something competitors can not copy or that it will take a long time to credibly copy . Make sure to have a very different presentation that causes a "chilling" impression that attracts like a magnet to prospects, which makes them "click" in the ad that we offer through social media or through an e-mail marketing campaign. Do not expect the prospect to go to an Internet site to get bored with worthless proposals, after reading that, without exception, those who offer the proposal are the industry leaders (!?). We must cause an overwhelming impression from the brand, from concept and from the visual presentation, and today more than ever, we must use video rather than photos.See some statistics about.   
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2- WHY? You have heard of course that millennials are the most important consumer force of the next 10 or 20 years, but what is not heard very often is that they will be also the main buyers of franchises. So can we think that the next 10 or 20 years will be the franchise industry best years ever? Millennials do not want to work "full time" as baby boomers and X generation had as an undisputed model. It's quite remarkable their "part-time" bias. Buying a franchise can be a great job opportunity for many of these young people who favor "a better balance between work and leisure" over the mad rush for wealth and material goods of ancient generations. I'm not saying that a franchise should not be handled "full time", but if franchisors are able to design franchise models with a structure that will support a "part time by the franchisee control" they would have taken an important step to attract milennials. Many sectors have not yet developed their expansion plans by franchising. The food industry and the traditional franchise systems in general, will soon leave their way to other sectors that will find an alternative in franchising for new generations.

 

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SirGerardThe1st
SirGerardThe1st

Franchise & Brands veteran. Experienced business owner. I began with Bitcoin in 2011. I am maximalist of nothing. Ok, frankly speaking, I am maximalist of decentralization.


Franchise matters
Franchise matters

Reflections of a franchise industry's "Old Wolf", after 30 years in the international franchise business. All opinions are mine, and cover aspects that serve both franchisors and franchisees. Love for brands and entrepreneurs around the world.

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