Home' The Franchise Review : September 2016 Contents THE FRANCHISE REVIEW
So, we must ask ourselves, are franchisors making the most
of these touchpoints? Is a focus on educating potential
franchisees part of the recruitment process? Is the marketing
team maximising the potential to disseminate information to
potential new recruits?
It’s easy to share information about a brand, along with the
benefits and advantages of signing up to a network.
What can add even more value to a franchise buyer’s decision-
making process is to hear more about the advantages of
investing in a franchise without the sales pitch.
It can be beneficial for a franchise brand to position itself as
a market leader, and as an authority on franchising and the
particular sector in which it operates.
Employing tactics to engage franchise buyers with pertinent
information can help guide them on whether or not they
are personally suited to franchising; help increase their
understanding of how franchisees need family support; show
them the power of franchising as a tool to generate business
ownership and spark entrepreneurial spirit; or outline the
economic benefits and potential of a specific industry.
Every franchise recruitment manager will have pain points – the
barriers that slow down or stall franchisee sign-up – and will be
tuned in to the concerns raised by potential franchisees.
One way to help ease anxieties is to provide information that
counters concerns, or that indicates opportunities to work
around the perceived problem. These include concerns such as
‘how can I get a loan?’, ‘what’s the outlook for this sector?’, ‘I’m
concerned about employing staff’, ‘I don’t know anything about
finding a site’, and ‘how do I know if I’ll be a good franchisee?’
Providing solutions or insights into genuine concerns might
ameliorate the recruitment process and make it easier for the
franchise buyer to find information that gives them confidence
in the franchise purchase – for example:
• how to do a budget to get funding
• what a successful franchise looks like
• why investing in an aged care franchise makes sense
• how to recruit and manage staff
• choosing the right location
• who makes a great franchisee
• what you need to know about a franchise agreement
• overcoming the leasing challenge.
Not only can such articles add value to an information
pack, but they can also be used to sustain engagement
with potential buyers who are not yet sold on the
or the brand, or those
without the immediate
capacity to take on a
A study conducted
earlier this year by Griffith
University discovered that
many potential franchisees
are underprepared when
it comes to pre-purchase
research, and that many
have a poor understanding
of the term ‘due diligence’.
Franchisors are well placed to provide potential franchisees
with valuable materials that assist the due diligence process,
and reference respected independent research and sources,
such as the ACCC.
It's also important to note that franchisors that can provide
insights, commentary and thought-provoking articles are giving
themselves a competitive edge.
Of course, education extends beyond the printed or online word
multimedia is an obvious tool with which to share information
that can be easily consumed by a time-poor and increasingly
visual audience. There are more than one billion YouTube
users – and they are not all watching cat videos.
A 90-second clip is considered long enough to hold attention
and disseminate valuable information; while an infographic can
provide a snapshot of salient points for an industry overview, or
to highlight the benefits of franchising.
Franchisors can reach beyond the pool of franchise applicants
by tapping into social media’s vast audience with pertinent
information to position the brand as an authority and trusted
source on franchising.
We see education all around us – government, business bodies,
educational institutions, associations and the media all offer
insights. But they don’t have to be the only knowledge providers.
Franchisors can adopt some simple techniques that will boost the
level of knowledge across the franchise buyer community.
Sarah Stowe is the editor of www.franchisebusiness.com.au (the official
online directory of the FCA), the Franchise Newsletter and the Franchise
Industry Bulletin, and Franchising magazine. Stowe has been an editor
across consumer and B2B publications for 30 years, and has been
immersed in the franchising sector for almost a decade.
Continued from page 15
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