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1851 Growth Club
5 Tips on Finding your First Franchisee
By BEN HEINEMANN When it comes to launching your franchise, the first thing you’ll need is that first franchisee who will take your startup brand or concept and run with it. This is an essential step in the franchising process, the one that actually will turn your business into a franchise. As su.....
By BEN HEINEMANN
When it comes to launching your franchise, the first thing you’ll need is that first franchisee who will take your startup brand or concept and run with it. This is an essential step in the franchising process, the one that actually will turn your business into a franchise. As such, we tapped Steve Beagelman of SMB Franchise Advisors* to give us five tips on where and how to start your search.
- Stay Local: Starting the search for your first franchisee close to where the brand has started can yield great results. Locals are more likely to be familiar with the brand and therefore also more likely to invest in the concept and take it to the next level.
- Talk To your Customers: One of the best places to find your first franchisee is in your customer base. Your customers already love the brand and are familiar with the business. They will also be great advocates for your brand.
- I Saw the Sign: Something as simple as putting a sign up in your original location that says you’re now franchising and have opportunities available is surprisingly one of the best, and most cost-effective, ways to find your first franchisee.
- Spend Money: You may have to spend some money to get the word out that your brand is now franchising. Public Relations and getting your brand in the news is a quick way to not only validate your business, but makes it visible to the millions of people who read and watch the news every day.
- Market the Opportunity: If you’re in the food business, put franchise opportunities available on everything, from the cups to napkins to take-out bags. It’s a very common practice and also an effective one.
*This brand is a paid partner of 1851 Franchise. For more information on paid partnerships please click here.
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