How to Sell Many More Franchises by Investing Just a Litle More Time

January 19, 2024

By Evan Hackel

Do you want to sell more franchises? Of course you do.

But do you know what is stopping potential buyers from signing up for your franchise? The problem is probably that you are too eager to close the deal. You are desperate to get a commission, you are impatient to welcome that new buyer into your family, you might even be hungry to get your hands on the money they invest.

Those motivations are natural, only human. The problem is, they are scaring away the prospects who can smell your desperation from a mile away.

People buy franchises when they have a dream of a better life that matches the dream that you sell them about your franchise.

Let me repeat . . . When the client’s dream matches the dream you are selling, then you have a match made in heaven and a likely sale.

So the key is to help the prospective buyer to create a vivid, emotional personal dream that is in sync with what you have to offer. Let’s explore how you can make that happen.

Why that Dream Match Rarely Happens

Too often, we start a sales conversation with a five or 10-minute chat in which we barely scratch the surface about what a prospect is hoping to achieve by buying your franchise. Those conversations typically go like this:

• “Why do you want to own a franchise?” we ask. And the prospect replies, “I want to be my own boss” or, “I want to be in business for myself.”

• “What kind of franchise are you thinking about?” we ask. The prospect answers. “I want to own a gym, I have always been into fitness.” We then move quickly into describing our offer. And here’s a little secret. At this moment, the prospect’s eyes are glazing over. Just when you want him or her to be most excited about learning about your franchise, his or her mind is wandering.

Here Is the Better Way

Instead of spending only five or 10 minutes scratching the surface, spend at least 30 minutes digging deeper. Ask them about their passions, their fears, their hopes, their dreams. Get them to open up and share their stories, their feelings, their fantasies. Make them laugh, make them cry, make them feel something. Then, and only then, show them how your franchise can make their dreams come true.

Opinions expressed by C-Suite Network contributors are their own.

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