What’s smarter than a smartphone? Two smart phones – yours, and the one in the hands of the local entrepreneur who wants to know more about owning one of your franchises. In less than a decade, smart phones connected to the Internet have skyrocketed to become the No. 1 channel for potential investors to research …
Sales Advice For Emerging Franchisors
If you’re an emerging franchise, making the leap from an owned-and-operated business to the franching model, you’ve got a tough task. Your first few sales are based on the promise of your concept, not a track record in serving franchisees. Fortunately, many prospective franchisees are looking for ground-floor opportunity, and may be emotionally drawn to …
Who Buys Franchises? Prospects Span All Generations
The next generation of business owners is likely to be younger than you might think. According to the largest study of prospect franchise buyers to date, more than half of those interested in buying a business are under the age of 50. Baby Boomers and older are still a force to be reckoned with, and …
Top Franchise Lists Tell the Ever-Changing Story of American Business
Franchising tells the story of American business, an ever-changing kaleidoscope of brands both new and familiar, capturing the changing mood of consumers and small business investors alike. Entrepreneur magazine captures it all in its annual Franchise 500 list, which was published again this week. At the top of the list is McDonald’s and a dozen …
Inside the World of Private Equity Ownership of Franchisors
Individual franchise units are often owned by the local investors who run the business and reap the rewards of their efforts. But who owns the franchising system that local owners are licensing? Increasingly, private equity funds are investing in franchisors, drawn by the predictability of a proven business model, and the “skin in the game” …
Franchise Marketers, Do You Know WHERE Your Prospects Are?
Franchisors, there’s a huge mismatch in your new-unit sales funnel – 67% of all franchise inquiries are sent outsite of business hours, times that don’t lend themselves to an immediate phone conversation. And that problem gets tougher for national franchisors, when you consider the vast expanse of the 50 states and 6 main time zones …