1851

Where are my leads?&nbsp;That is a question nearly every sales person, founder and CEO has questioned and asked in franchising. Yet, the answer isn’t as simple as turning on the lead faucet and letting them pour in – it’s much more complex than that. Why? Per our previous discussions, selling a franchise is freakin’ hard. You are trying to convince someone (often with no prior franchise experience) to accidentally fall into franchising, invest their life savings and buy your business. Oh, and there are a million other franchises and a million franchise brokers all trying to convince them to buy something else.It is vital, especially in sales, to report on the weather of next week, not last. In order to do that, you have to build out a model (sophisticated or simple) that can give you a glimpse of where the funnel is building.First, the funnel and the tactics:<img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcT9gR3rxy_Vq0n_SZVE9QauOHey1MBZnoliI9PHysYdav3AQ1FyWRPGCgOKYgnxzYVPy5kkPdCTzWuWOTlwBKEDbiCsA6FUM4CDiOSLZ-5qev4aJElN7vl5Vhe3Ds9gjKLCJoe5A?key=1SWIlJ4auk8LO5MapcDUmA">To build predictability, you will want to start with your target markets. How do you determine your target market buckets?&nbsp;<ol><li>Existing Locations: Concentric circles protect and build upon your brand awareness. When you open additional locations in a market, it should increase AUVs. This is if you didn’t oversell the territory.</li><li>High performance markets: If you have size, build a plan around your highest performing franchisees. They will likely validate better and great reviews will impact the next franchisee.</li><li>Best financial performance states that are near your existing locations):&nbsp;<a href="https://1851franchise.com/what-alec-laffers-2024-state-level-economic-index-report-means-for-franchising-2727636#stories">https://1851franchise.com/what-alec-laffers-2024-state-level-economic-index-report-means-for-franchising-2727636#stories</a></li></ol>Then, you need to build a budget. $25,000 per deal is a good rule of thumb for spend. You want 10 deals, budget $250,000.&nbsp;Armed with your markets and budget, you should now start building your chart (financial and performance)<img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXd3yJlCJLfa_nzaKjtsDrUhanGquaiz76MGvTMwv_E9H2PLmdhjXJbftZFv3qOQNaa13W3l_hPK6WMaAU4DNiISm9Vc8oc0tQzzYrvXorLMFIg3nBCbgIGLqoJ8EpfNeHnu3xe02g?key=1SWIlJ4auk8LO5MapcDUmA"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcsQC_PIiXaZwC3IgZPh4iTShUcGVAPSkuJWpJ6yE6daij97Q96klrJ0mLHuE6s32qT4cX2oSK75Gyqnk568nYGvb4YODeWb_mIpTYBK7JyoA58c86wN-jheF0VizU4ewNuJrkafA?key=1SWIlJ4auk8LO5MapcDUmA">If you track candidates (people that reply) to good candidates (moving in the funnel) to deals, you can now start seeing a comparison to traffic in a city or state to deal flow. While this won’t be perfect, it will help you understand movement in key markets. It will allow you to maintain focus and shift your budgets to be focused on momentum markets.Additionally, if you want to up the game with spend against predictability, when a good candidate (motivated and financially sound) enters your funnel, you start buying Meta and LinkedIn ads in that market. This will create a sense of urgency. When you are able to say you have another good candidate you are speaking with in a market, it creates a supply and demand issue. It helps candidates sidestep fears and move faster.Imagine going into a meeting and being able to present this: &nbsp;<h3>Full Funnel: Website Traffic → Leads → Applications → Franchise Sales</h3><figure class="table"><table><tbody><tr><td>Stage</td><td>Volume</td><td>% Conversion</td><td>Cumulative Conversion</td><td>Notes / KPIs to Monitor</td></tr><tr><td>Website Visitors (Traffic)</td><td>10,000</td><td>3%</td><td>3%</td><td>Bounce rate, time on site, CTA clicks</td></tr><tr><td>Lead Forms Submitted</td><td>300</td><td>33%</td><td>1%</td><td>Cost-per-lead (CPL), lead source performance</td></tr><tr><td>Qualified Leads (Pre-screened)</td><td>100</td><td>60%</td><td>0.6%</td><td>Funding, territory availability, timeline</td></tr><tr><td>Franchise Applications Submitted</td><td>60</td><td>70%</td><td>0.42%</td><td>Drop-off due to FDD, lack of alignment</td></tr><tr><td>Discovery Day Attendees</td><td>42</td><td>71%</td><td>0.29%</td><td>Scheduling, travel, validation experience</td></tr><tr><td>Closed Franchise Deals</td><td>30</td><td>71%</td><td>0.3%</td><td>Avg. time-to-close, cost-per-close (CPC)</td></tr></tbody></table></figure>And this<figure class="table"><table><tbody><tr><td>Funnel Stage</td><td>Leads In</td><td>% Conversion</td><td>Leads Out</td><td>Drop-Off %</td><td>Notes / Roadblocks</td></tr><tr><td>Discovery Form</td><td>100</td><td>70%</td><td>70</td><td>30%</td><td>&nbsp;</td></tr><tr><td>Intro Call Completed</td><td>70</td><td>60%</td><td>42</td><td>40%</td><td>Timeframe, funding</td></tr><tr><td>FDD Review</td><td>42</td><td>50%</td><td>21</td><td>50%</td><td>Financials, legal confusion</td></tr><tr><td>Brand Validation</td><td>21</td><td>67%</td><td>14</td><td>33%</td><td>Weak franchisee stories</td></tr><tr><td>Discovery Day Attended</td><td>14</td><td>71%</td><td>10</td><td>29%</td><td>Timing, spousal buy-in</td></tr><tr><td>Closed Deal</td><td>10</td><td>100%</td><td>10</td><td>0%</td><td>🎉</td></tr></tbody></table></figure>Equipped with this data, the pressure shifts from “selling” to identifying friction. Once you understand where candidates drop off, you can fix it with targeted PR, better content, or process improvements.Improve the quality at the top. Improve the performance at the bottom.That’s how you build predictability in your franchise funnel.

Franchise Masterclass: Building Predictability in Your Franchise Funnel

1851 Franchise

“Where are my leads?” is the #1 question every founder, salesperson, and CEO in franchising asks. But the answer isn’t more leads—it’s more predictability.

building-predictability-in-your-franchise-funnel

Caring Transitions

Why Consider a Corporate Career Change? Find Meaningful Work Helping Others With Caring Transitions

why-consider-a-corporate-career-change-find-meaningful-work-helping-others-with-caring-transitions

Comfort Keepers

How This Financial Strategist Built a Flourishing Purpose-Driven Business With Comfort Keepers®

how-this-financial-strategist-built-a-flourishing-purpose-driven-business-with-comfort-keepers

Fitness Premier

Fitness Premier: A Legacy of Excellence, Built on a Foundation of Fitness

fitness-premier-a-legacy-of-excellence-built-on-a-foundation-of-fitness

Busy Bee Jumpers

From Solo Hustle to Franchise Muscle: Why Converting to a Busy Bee Franchise Just Makes Sense

busy-bee-jumpers-franchise-conversion-opportunity

Paris Baguette

Paris Baguette Franchise - Anusha Jonnala and Swapna Varala - 1851 Franchise

Blending Tech, Hospitality and Health Care: How Three Women From Different Worlds Came Together to Build a Paris Baguette Franchise

paris-baguette-franchise-flower-mound-texas

Buying a Franchise Masterclass

 Franchise Opportunities

Get Support Buying a Franchise

How to Buy a Franchise White Paper

How to Buy a Franchise

How to Sell Franchises

How to Grow a Franchise

Find a Franchise Supplier

1851 Franchise Opportunities

Franchisor News

Franchisor Power Rankings

FranCamp Mastermind Summit

Franchise Development Website Builder

Franchise Resources

What ALEC-Laffer's Report Means for Franchising

Website Awards

Power Rankings

About 1851

Advertise on 1851

Contact 1851 Editorial

Terms of Use

1851 Login

GROWTH CLUB LOGIN

facebook

instagram

twitter

linkedin

youtube

Dickey's Franchisee Backlash - Lawsuits - Disputes - 1851 Franchise

Texas-Based Dickey’s Barbecue Pit Grapples with Franchisee Backlash

dickeys-barbecue-pit-franchisee-lawsuits

Design with person in blazer, with laptop, holding sign that reads "LOOKING FOR A JOB"

Uptick in Jobless Claims Points to Continued Instability in Labor Market

jobless-claims-franchise-growth

Extraordinary Brands Acquires CycleBar and Rumble, Shaking Up Boutique Fitness Franchising

extraordinary-brands-cyclebar-rumble-boxing-acquisition

NJCAR v. Ford - New Jersey Supreme Court Limits Standing Under Franchise Practices Act

New Jersey Supreme Court Limits Standing Under Franchise Practices Act

new-jersey-franchise-practices-act-njcar-v-ford

Planet Fitness Franchisees Donate $100K to Support Texas Flood Relief - 1851 Franchise

Planet Fitness Franchisees Donate $100K To Support Texas Flood Relief

planet-fitness-texas-flood-relief

Top 25 Franchise Marketing Leaders: Cathy Chavenet — Chief Marketing Officer, Paris Baguette

top-25-franchise-marketing-leaders-cathy-chavenet-chief-marketing-officer-paris-baguette

Mike Revak - Chief Business Officer - Sky Zone - Franchise Marketing Leaders - 1851 Franchise

Top 25 Franchise Marketing Leaders: Mike Revak — President and Chief Business Officer, Sky Zone

top-25-franchise-marketing-leaders-mike-revak-chief-business-officer-sky-zone

The Ultimate Guide to Franchising Your Business — Phase 2: Creating the Franchise System — Franchise Disclosure Document (FDD)

the-ultimate-guide-to-franchising-your-business-phase-2-creating-the-franchise-system-franchise-disclosure-document-fdd

Top 25 Franchise Marketing Leaders: Lynlea Rudell — Director of Marketing, Pool Scouts

top-25-franchise-marketing-leaders-lynlea-rudell-director-of-marketing-pool-scouts

Hely and Hiral Patel Bring Their Longtime Dream to Life With The Brass Tap

brass-tap-franchise-pasadena-maryland-hely-hiral-patel

Hooters Leans Into Franchising With Closure of 30 Company-Owned Stores - Agg - 1851 Franchise

Hooters Leans Into Franchising With Closure of 30 Company-Owned Stores

hooters-franchise-model-company-owned-closures

1851 Keyword - The Secret To Succeeding With a Part-Time Franchise Is Picking the Right Model

The Secret To Succeeding With a Part-Time Franchise Is Picking the Right Model

part-time-franchises-picking-the-right-model

"Come in, We're OPEN" sign against abstract background

Small Business Optimism Dips, Raising Concerns for Franchise Owners

small-business-optimism-dips-raising-concerns-for-franchise-owners

Wendy's CEO Kirk Tanner Steps Down - Breaking News - 1851 Franchise

Wendy’s CEO Kirk Tanner Steps Down Amid Challenges, Leaving Franchisees Facing Uncertainty

wendys-ceo-transition-kirk-tanner-franchisee-uncertainty

Navy Veteran and Professional Artist Couple Open Caring Transitions in Texas

Franchise Masterclass: Building Predictability in Your Franchise Funnel

MORE STORIES LIKE THIS