- 30 Jun
Six simple steps that will grant your franchise a successful sale - Step 1
STEP 1: FRANCHISE PRE-QUALIFICATION
When you come to new franchisors, nothing is more common than their decision in placing their sales managers both in prospect screening and pre-qualification. However, even though some franchisors may not have familiarity with this decision, it is a common thing that happens in new franchise unit, especially when both human resources and financial assets are scarce. Nevertheless, the urgency is high to remember especially for new franchisors that most franchise experts would recommend you to ask professional help from qualification specialist whenever you want to achieve initial follow-up of your unit inquiries. You can choose whether to hire them as your permanent team member or just their temporary service, but you should never forget that by asking their service, you will be able to save all your resources and at the same time increasing your sales performance.
When you have a qualifier in your unit, you will get his/her detailed focus on eliminating mismatched and poor questions, timely follow-up of every business lead you have, and finally setting business appointment over the phone. As you can see, these benefits will allow both your staff and sales managers to put their focus only on pre-qualified and pre-determined prospects which include more candidates to handle than they currently have and better sale opportunities than present. In addition, a qualifier is also responsible in elevating both the status and credential of sales managers you have in your unit whom you trust to as your business spokesman.
In start-up franchise, an initial conversation you have with your prospective client is critical. Your mission is to show pre-qualification and control gain over the client as well as capturing his/her attention for another 10-minutes conversation. However, you may face a common situation when your client does not show any interest in the subject. If this situation happens, you are free to tell the truth. Continuing the conversation will only bear no fruit.
In accordance with the conversation you make with your client, you should have already understood that there is one closing objective you should accomplish. It is mandatory for you, as franchisor, to make sure that the inquirer has strong motivation to return ‘Request for Consideration’ application they have in the same package you will give to them. The motivation should give them strong enough reason to take the opportunity you offer and ask for further information from you. Keep the conversation on its path and do it briefly. So, every word you speak will provide valuable information to your client who builds motivation in becoming active part of your franchise business.
You should not believe in the impossibility, especially when you live in a business world. Your willingness to learn, hardworking, dedication, and ethos are the essential keys that will keep the impossibilities away from your business world. The same condition applies with this conversation subject. As long as there is a firm willingness in your heart to do the best, you will learn how to do everything quickly and correctly. The following steps, for example, will show you important steps in the franchise discussion you should never miss.
1. Take your first step by collecting and then confirming basic information about your prospective client, especially their contact information.
2. Once you have had their information at your hand, perform a screening method similar to information selection until you get at least six screening questions.
3. Give a description to your prospective client about benefits they will get from your franchise through opportunities you offer.
4. Give a brief description about your candidate requirement to your client. By providing this information to them, you show them your highest gratitude and honor through your honesty and commitment in building a successful franchise. Your description should contain some basic information such as individual type and relevant process the system requires.
5. There are some cases when your client would try to give you some detailed questions. Even though there is no restriction about asking questions, you should understand that these questions are, unluckily, not at the perfect moment for you to answer. That is the reason you should do your best to deflect them. You will have enough time to give the appropriate answer after you have a Request for Consideration back.
6. At the end of the interview, you should once again re-confirm their approval of desire. A simple question would provide for this purpose, such as, “May I know your preferred option for the continuation of this project, please?” or “Can we continue to the net stage?” (Once again, remember that when you have found evidence of their disinterest, you should let them go. It is useless to keep them because motivation holds important role, even in the franchise business.
7. When your client shows you a valid proof of their interest on the subject, ask them politely to return within five consecutive days. Remind them that when they come to your company, they should also take the RFC document they have completed. They can get this document from franchise ownership package you send to them. However, in any case when they have not received the application, give them few additional days until they have received it. So, make sure you have sent a report to the right address. Do not forget to thank your customer by phone and give a warm follow up to them.
There are some unique cases, however, when people still come to your place even though they realize that the time has passed. Do not worry about these people. You should still humbly accept them at your place due to their interest and motivation in joining your system. These are great people from whom you can expect exceptional, unusual, and unexpected things to come in the future.
In conclusion of this first segment, you should remember about TMI. It is an abbreviation from too much information. It is a situation when everything can turn into counterproductive and dangerous during the initial, first personal contact. When you decide to give too much information, it is not good things you will get, but losing candidates who may bring great success for you in the future.