How to Sell Your Franchise

Until you have sold your first franchise you won’t know the cause and effect of your marketing. Most often when someone starts their own franchise system they layout thousands of dollars on marketing with certain websites, print ads or even radio spots. What should have happened is creating a buzz on the internet using a good marketer rather than listening to an old school franchise counselor.

If selling your franchise system was only the hurdle you had to encounter business would be a breeze. The second largest hurdle is in the paperwork. Creating this information is almost a nightmare when beginning your franchise system. Sure you know your business backwards forwards and all around, now out it on paper in easy to speak terms with lots of bullet points and a great index.

It does sound tough but once it is complete it becomes viable and marketable. Once of the more important pieces other than the FDD is the Franchise Operations Manual. This document will encompass every small detail about your business leaving no stone unturned, no question unanswered.

To the smallest detail on how to file paperwork to how the phones are answered this document is your living, breathing business and one that will soon be running under someone else’s guidance. Actually taking the time to sit down and spell out every minute detail of your business you may find it easier to simplify this process and buy a system already in place – one like FranZoom’s Pro Bundle. The simplicity is in having the information at hand and opening up a document, editing the pre-made system and saving as your own. Remember, being able to sell the franchise is often easier than the paperwork that it takes to close the sale. Be prepared and get your paperwork in order prior to selling, it will save you time.

Branding Your Franchise

More than having a snazzy logo or a catchy jingle, franchise branding includes every small minute detail up to and including the largest consistent message. Having a known brand or a well known brand is in and of itself one of the most important items to be shown in your FDD. This enable the potential franchisee to see how well the franchise has grown and to what extent it has a following.

The costs involved in franchise branding outweigh the emotional tie back to the product itself. When looking through your franchise system consider the appeal it has as a whole. Ask yourself the following questions:

• Is the overall image and graphics appealing
• Does the product speak for itself
• Could a focus group pick my product over another based on prior knowledge of the market.

This is an ongoing battle for most franchise owners. The outlay of capital and time to build the message your system needs to convey are controlled wholly by you in the beginning. As time goes by and more franchises are sold the advertising can be controlled by the franchise association members. This will certainly help in that this is one more thing you don’t have to worry about getting accomplished offering you more time to work on other markets.

Stay consistent with your advertising by always using the same logos, colors and marketing material. This lets your customers know that the product is strong and will always stay the same. Repetition is key to a well known company image. For example; do you know any corporate jingles that you know by heart?
Along with this stay consistent with the paperwork that you use with your franchisees. Having the same work and the same form numbers shows consistency in your business and gives them comfort knowing that things will only change if necessary.

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