Advice On Selling Franchises

FranchiseInfo:

Interested prospects can kill you in the franchise sales business. That’s why the salesman always needs to maintain an active pipeline. It is normal for people thinking about buying a franchise go through several layers of interest.
This chart shows the levels of progression:

4. Commitment
3. Active interest
2. Passive interest

1. Curiosity
This chart is inverted because it is a ladder that the prospect must climb. They start out as curious, and as long as the franchise salesman is willing to feed them information about this wonderful, lucrative, not-to-be-missed, world-class opportunity they will be willing to take up his time. It’s up to you to move them up the ladder—or move on yourself!

The danger is that unless you have enough prospects, if you are not aggressively generating new contacts, then their interest feels like validation and you will get stuck trying to work a prospect who is not really a buyer.

Move them from one level to another by asking questions. Do they understand how franchising works? Have they ever run their own business before? What interests them in this particular franchise? What do they want to achieve? Can they afford to develop and sustain themselves in a new business?

Carry on reading this post.

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