What is the best franchise sales tool?
I’m excited to introduce one of many Guest Bloggers that will be contributing to Acceler8Success Cafe as we start expanding what has become a very popular platform for current and aspiring entrepreneurs alike.
Our Guest Bloggers all have extensive experience related to all aspects of entrepreneurship, franchising, business ownership, and restaurants. With expertise across a multitude of business functions and topics, all will help us achieve our objective to provide information and resources necessary to succeed, and especially in today’s challenging business environment.
Today I’m proud to introduce Wayne P. Bunch, Jr. As a partner in the Franchise Practice Group of FisherBroyles, LLP, Wayne represents franchisor companies in connection with their efforts to expand through franchising both domestically and internationally.
Wayne’s participation at Acceler8Success Cafe will be to provide timely and easy-to-read franchise advice, reminders and tips that will help our readers fortify and expand their knowledge of franchising.
Franchise Sales Methodologies
As the new year is upon us, many franchisors will have set ambitious goals related to the sale of many new franchises. There are many methodologies related to increasing franchise sales; however, I would argue that the best franchise sales tool is the development of a system full of happy and successful franchisees.
So, what makes a happy and successful franchisee?
Clearly, being profitable is important. However, I would answer this question in the following way. Most franchisees want two things:
1) positive brand recognition and awareness, and 2) efficient operating systems, which insure adequate profit margins and a consistently compelling customer experience.
Building a powerful brand image is done through the use of a smart growth strategy, an effective marketing strategy, and by consistently meeting customer expectations.
The development of high quality operating systems is the result of a determined franchisor who is focused on excellence. The operating systems will provide your franchisees with the tools for success, and generally include systems related to site selection, training, customer service, advertising, branding, purchasing, pricing, merchandising, employer/employee relationship, managing, accounting/bookkeeping and quality control, among others.
A franchisor focused on building brand recognition and creating great operating systems will develop a very healthy system of franchisees, each of which will be the best ally during any franchise sales process.
To learn more about Wayne P. Bunch, Jr., please check out his LinkedIn profile or if you’d like to speak with Wayne, he may be contacted directly via email to Wayne.Bunch@fisherbroyles.com.
Thank you, Wayne for your contribution to Acceler8Success Cafe.
I will be introducing additional Guest Bloggers in the coming days. If you’re interested in contributing as a Guest Blogger, please reach out to me on LinkedIn or via email to Paul@Acceler8Success.com. I look forward to hearing from you. If you have already submitted your request, I will be in touch very soon.
Have a great day. Make it happen. Make it count!