Franchise Update Magazine Issue IV, 2015 | Page 66
GROWING YOUR SYSTEM
It’s closing time
Franchising’s Best Sellers
Grow faster like the sales masters
I
BY STEVE OLSON
t’s been two years since I re-entered
franchise sales consulting full-time,
and here’s the good news! Seasoned
recruitment executives are capitalizing
on the resurgence of qualified franchise
buyers. These “Franchise Sales Masters”
continue to capture quality candidates
during this higher-growth period.
These top performers are artisans of
franchise development, applying a welldefined sales process, while establishing
credibility, confidence, and trust with
their buyers. If interested, a free research
report is available revealing the “DNA”
of these recruiting pros (see below).
The unfortunate news
Too many good brands are losing qualified franchise candidates, specifically because their sales people don’t carry the
characteristics, traits, selling skills, and
values needed to bring new franchisees
aboard. Consequently, too many companies experience difficulties hiring the
right sales person, and are not providing
key ongoing training that will help them
excel at their craft.
I still remember the salesman who
complained to me, “What an idiot! I can’t
believe my prospect went with our competition.” In quizzing him about the lost
candidate, the troubled rep was clueless
about the buyer’s motivations, concerns,
and goals in owning a business. So, was
it the buyer or the sales rep who was
the idiot?
Success tips for selling more
Franchise sales pros gain the edge by moving directly into their prospect’s world.
They probe, read, adapt, and outsell their
competition by fully understanding and
responding to how their candidates think
and behave. Here are insights that may
help increase your recruiting success.
1. Buyers expect responsiveness. Today franchise follow-up remains in crisis
mode. According to Franchise Update’s
annual surveys, late or no call-backs to
email requests are the norm rather than
64
the exception; too many respondents are
immediately thrown into voicemail jail;
and inquiring prospects, if lucky, receive
correspondence several days later or not
at all. It’s the “first to the door” sales pros
who are winning the development race.
If you don’t now, mystery shop your sales
team as a best practice.
Franchise sales pros
probe, read, adapt,
and outsell their
competition by fully
understanding and
responding to how
their candidates
think and behave.
2. Buyers don’t know how to buy
a franchise. Most of your prospects
haven’t purchased a franchise before, so
how would they know how to go about
it? You’re the expert, not them. It’s your
role to take control of the investigation
process through your leadership. If you
don’t, they will! If you fail to define the
steps and timeline of your buying process early on, they’ll create their own,
which in most cases leads to confusion,
uncertainty, and lost deals.
3. Buyers are seeking a relationship. Franchising is people-driven, not
product-driven! Buyers smell productpushers 10 miles away, which is why
many sales people fail at selling franchises. You’ll outperform competitors by
focusing on the prospects, their families,
aspirations, and the health and wealth
of their futures. Earn their credibility,
confidence, and trust and you’re in the
driver’s seat.
4. Buyers are highly impressionable
and fragile. Every word you utter to a
prospect is recorded in their memory
bank. What you say and do will greatly
influence their investigation. Minor er-
rors have major impact, e.g., when your
investment costs don’t match your brochure estimates; when you misspell their
name on your follow-up correspondence;
when you ask the same question twice;
or when you’re 15 minutes late picking
them up at the airport.
5. Buyers want ownership information. It’s not about what your business
does, it’s about what your business can
do for them. “How will your franchise help
me achieve my business and personal goals?
What are the benefits of your industry? What
are the unique advantages of your franchise
system? What training do you provide? Can
my family be involved?” Prospects don’t
contact you to continually hear about
the custom, curved counters in your
stores, special white sauce on your noodle
dishes, or torque ratios of your service
equipment. They are interested in the
ownership opportunities, benefits, and
lifestyle rewards your franchise offers.
These matter more.
6. Buyers share what they think—if
you ask. Often sales reps feel they are
intruding by asking too many questions
about their candidate. This is a major
mistake. Prospects want you to show
interest in them. Ask many questions
about how they feel, their family’s level
of support, what else they are looking at
and why, what their business strengths
and shortcomings are, and what they
want and don’t want in a business. These
telling answers provide powerful direction on how to respond to thei