Building Compensation Packages For Sales Pros

Franchising World magazine:

Franchising is first and foremost a business about people. Whatever the concept, the entire franchising business model revolves around successful relationships. Most franchising professionals will agree that the health and success of any system is directly related to the quality of the franchisees. If a franchise company is seeking the best franchisees to profitably grow its system, then it needs the best people on the front line awarding agreements. The franchise sales team is the gatekeeper to the next generation of franchisees that will either take the franchise organization to the next level or inadvertently devise its exit strategy. Franchisors who can identify top performers, keep them motivated, support them properly and, of course, compensate them appropriately will always outperform the pack, especially in today’s highly-competitive marketplace.

Who are the Top Performers?
Past performance is a great indicator of future success. Franchise sales are like no other type of relationship sales. Typically in franchising, companies start over every month at zero with brand new prospects, but they can’t just sell, sell, sell to be successful. Companies need the basics and to never be overtaken on follow-up or follow-through, but that is not enough to be the best. It is a necessary condition of success, but far from sufficient. Someone who understands the nuanced difference between franchise sales and other sales and has proven it by selling large numbers in other systems will most likely be successful in any system. If not, perhaps there is a system-wide problem or as will be discussed later, the company isn’t giving him the tools and support he requires to hit those goals.

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