Top 5 FAQ from Future Franchisees

No matter how comprehensive your franchise website is, prospects will be sure to bring plenty of questions your way before they sign above the dotted line. If you want to bolster your franchise development strategy, you’ll need accurate and transparent answers to each of the questions we go over today.

Integrated Digital Strategies works with over 40 franchisors to maximize their inbound digital marketing and development efforts. As the number two franchise supplier, according to Entrepreneur, IDS takes a personalized and purposeful approach to each project we work on. If you’re interested in learning more about our franchise development or marketing services, feel free to get in touch with our team today.

1. What are the costs to start, and how much money will I make?

Before any prospect takes action or picks up the phone to call a member of your team, they will want to know everything they can about the financials. They’ll need to know exactly how much they can expect to spend, and what they'll get back for their investment, and additionally, the financial success of existing franchisees. A great way to establish trust with new leads is by showcasing some relevant figures on your franchise development website’s investment page or homepage. 

2. How do you support your franchisees through an economic downturn?

There’s no doubt about it -- the franchise industry will feel the ripple effect of COVID-19 for a very long time, and you will certainly see that in your sales and development efforts. Prospects will have more questions about your team’s response to economic hurdles and how you helped your partners in their greatest time of need. Even if you’re an emerging brand with a smaller franchise network, it will be essential for you to showcase how your brand is “panic-proof.”

3. What do you do to help me startup?

One of the top-selling points of the franchise experience has always been the added support and guidance that you can’t get from an independent business venture. We all know that franchisees come from all walks of life, from multi-unit masterminds to millennials fresh out of college. Regardless of how their resume reads, every prospect wants to know how you’ll make their life simpler from the jump. That means added support in areas such as:

• Localized Digital Marketing Campaigns 
• Real Estate Construction, Lease Negotiations, Location Build-Out
• On-Site Training Programs
• Regional Mentorship 
• Sales and Operations Guidance 
• Hiring Strategies
• And much more

4. What are your competitive advantages?

What are the top five reasons that someone should invest in your brand over your competitors? What about your experience is unique? Equipping your franchise development and sales team with those answers is crucial -- they’re the people on the frontlines interacting with potential franchisees. If you’d like to learn more about aligning your sales and marketing playbook, take a second to check out our recent blog post:

UNDERSTANDING FRANCHISE SALES ENABLEMENT AND HOW IDS CAN IMPROVE YOUR FRANCHISE DEVELOPMENT PROCESS

5. Can I speak with an existing franchisee?

A critical element of the sales process is purchase validation, and in franchise development, that can happen in many different ways. One of the most common ways for a prospect to validate their investment is by reaching out to a like-minded franchisee to ask about their experience. If you attempt to discourage a conversation, your franchise prospect will proceed with caution, and you could lose some trust. You have to let your franchise partners operate as true brand ambassadors. 

Would you like to learn more about IDS or our franchise development packages? We are eager to hear from you -- get in touch with a member of our team today!