By Evan Hackel
The Covid-19 pandemic disrupted many aspects of life and business, but it did not change the core reasons why people buy franchises. If you want to attract and convince potential franchisees, you need to understand their motivations and adapt your sales strategies to the new reality.
The Four Main Motivations of Franchise Buyers
People who buy franchises are looking for four things:
- Profitability: They want to make money from a proven business model that has a strong market demand and a competitive edge. You need to show them how your franchise concept can generate a high return on investment and a steady cash flow.
- Passion: They want to enjoy what they do and be proud of their business. They want to align their personal values and interests with a brand that they love and respect. You need to show them how your franchise concept can fulfill their passion and purpose.
- Protection: They want to reduce the risk of owning a business and avoid common pitfalls. They want to benefit from your expertise, guidance, and support. You need to show them how your franchise concept can provide them with comprehensive training, a reliable system, and a responsive network.
- Partnership: They want to join a community of like-minded entrepreneurs who share their vision and goals. They want to collaborate and learn from other franchisees and franchisors. You need to show them how your franchise concept can connect them with a culture of trust and teamwork.
The New Challenges and Opportunities of Franchise Sales
The pandemic has changed the way people communicate and interact. You can no longer rely on traditional face-to-face meetings and events to sell your franchise concept. You need to leverage technology and create virtual experiences that can engage and persuade potential franchisees.
Here are some tips to sell franchises in the post-Covid era:
- Use multiple channels: Reach out to potential franchisees through various platforms, such as social media, email, webinars, podcasts, and online ads. You need to create consistent and compelling messages that showcase your brand value and differentiation.
- Create interactive content: Provide potential franchisees with relevant and useful information that can answer their questions and address their concerns. You need to create interactive content, such as videos, quizzes, surveys, and testimonials, that can capture their attention and interest.
- Offer personalized solutions: Understand the needs and goals of potential franchisees and tailor your solutions to their specific situations. You need to offer personalized solutions, such as financial assistance, flexible terms, and customized support, that can meet their expectations and preferences.
- Build trust and rapport: Establish a relationship with potential franchisees and make them feel valued and respected. You need to build trust and rapport, such as by using video calls, sending handwritten notes, and giving feedback, that can foster a sense of connection and loyalty.
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