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Why You’re Losing Prospective Franchise Leads To Other Brands

How to evaluate your brand's sales process to identify gaps that may be costing you prospects and deals.

By Nick Powills1851 Franchise Publisher
Updated 4:16PM 11/30/21

Darn. You had a prospect so close to the finish line, but they decided to Go. In. Another. Direction.

Back to the drawing board.

What made the prospect invest in another brand? Well, it was probably you.

No offense...

The easiest way to understand your gaps is to look at your complete footprint as if you were a prospect. Ask these questions as you venture through your own sales process:

  • Is there a clear why you/why now on your franchise development website?
  • Does your website tell a compelling story about the industry you are in — or links to content that does?
  • Can you clearly see franchisees — hopefully smiling ones — validating the brand?
  • Does the investment range seem right — in that, are you impressed with the costs to get in and how much you can make?
  • Does your CEO and/or founder have a findable vision piece?
  • What about your buzz? Do you have good stories coming out on a regular basis (set up Google Alerts for your brand)?
  • Are you showcasing innovation — what has changed and evolved?
  • On your site, are you showcasing consistent news — signings, groundbreakings, openings (even in the form of a press release)?
  • If you are working with a broker network, do you have a strong 2-minute drill and one-pager?

Now, go ask those same questions with your competitors (and not just in your segment — also similar investment types). You may come up with a few strong solutions.

You see, many brands skip over the blocking and tackling — instead dreaming that prospects will magically buy into the brand. Dreaming may get you a few buyers — but those buyers weren’t hard sells.

The hard sells are the ones who look at multiple brands and compare the pros and cons. If they're picking your competition instead of you, try to find out why.