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For most people, it’s hard to strike up a conversation with a stranger. But starting up a conversation with a potential franchisee can be even harder. Here are four tips that can help you seal the deal.
The wheelers and dealers in the franchise sales world aren’t just around for the networking events. It is the responsibility of your brand’s sales executive to grow your company by not only finding the right franchise leads and candidates, but also to communicate its values effectively so that candidates feel comfortable taking the leap and making a big investment.
Sales positions are always tough because you have to convince someone to spend their hard earned cash on your product or service. But when it comes to franchise sales in particular, you’re not selling an accessory or a knick-knack, you’re selling a business, a future and a career—so it’s crucial to explain and position your brand in the right way.
When it comes to talking the talk and closing the deal, here are four habits to consider of great conversationalists in franchise sales.
Mark Goldstein, the founder and franchise sales manager of Fast-Fix, says it’s important not to sell when marketing your franchise. Tell the truth, both the good and the bad, and ultimately leave the decision up to the franchisee.
“I’m not trying to sell the brand to someone. Instead, I try to inform them. I tell them I can’t make the decision for you,” Goldstein said. “First and foremost, the franchisee needs to feel comfortable, so the best thing I can do is answer questions to help put their mind at ease.”
Bill Wilfong, the vice president of development at Pita Pit, echoes the importance of sharing the whole truth.
“We probably talk more people out of it than into it. We believe the gap between expectation and reality is called disappointment, and we try to minimize that by being realistic about the commitment,” Wilfong said.
People will want to know: Why is this concept different from others? Today, there are thousands of types of businesses and franchise concepts you can invest in. Wilfong says it’s important to identify and outline your brand’s unique qualities. Then, make sure to communicate what makes your brand special to prospective franchisees. When talking to a lead, Wilfong makes sure to emphasize Pita Pit’s healthier fare as an alternative to fast food and the high return on investment for franchisees.
Sometimes franchise brands get a bad rap. So finding someone who wants to invest with a franchise concept and is the right fit for your brand can be challenging.
“Nobody knows everything about business, and if you think you know a lot about business I would want to run away from you,” Goldstein said. “You have to go in with an open mind and be able to work within the system, so it’s important to explain that.”
Working in sales is hard, and when prospective franchisees’ entire future and life savings are at stake, it gets even harder. Great conversationalists in franchise sales have to be willing to put in the leg work to make potential franchisees willing and eager to invest with your franchise concept.
It ultimately boils down to a few key habits for Wilfong.
“Honesty, integrity, passion for the brand, and a belief in what you’re selling matters most. You also need to be consistent, friendly, and a good listener,” Wilfong said.Sign up for the 1851 Franchise newsletter to get our biggest stories before everyone else
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