Recruiting Franchisees

bfa:

Recruiting franchisees is probably the hardest and most expensive job for franchisors. recruiting.jpgNew franchisors have conversion ratios of serious enquiries to appointment of around 10:1. Established franchisors have a conversion ration which is often higher than 50:1 sometimes higher than 100:1.

The recruitment mechanisms open to you are:

Franchise exhibitions
Be careful to avoid those where your reputation could be spoiled by association with bad franchised businesses.

Newspaper Advertising
Some national papers have developed an active franchise market.

Trade Magazines
There are 3 franchise magazines 2 of which are available through newsagents. Their support can be important.

Referrals
Existing franchisees have friends, colleagues and customers. If they are happy with their business they will encourage others.

British Franchise Association
The bfa website has sent in excess of 40,000 franchise leads to its members.

Franchise Centres and Brokers
Beware of any arrangement which places a financial incentive on a third party to recruit franchisees for you. You will be in danger of taking on the wrong people. Ensure that the selection process and the relationship is directly between you and each prospective franchisee.


Featured Opportunities

Related Stories

Leave a Reply

Your email address will not be published. Required fields are marked *