Franchise Sales Process
Franchise Sales Process
At our Franchise Consulting Agency, we consider it very important for clients to understand the value of our role in the franchisee-franchisor relationship. If you come to us to advertise your franchise and sell your business model to anyone who is interested, then we need to change that perspective.
Our job at FranFrog is to match your franchise with fitting candidates from our network of potential investors. The fact is, not all franchisees may succeed using your model. As the franchisor, you may lose your time and resources on that particular individual, when you could have spent it more productively on a different person, organization or business entity with higher potential for success using your franchise. In our process, we look for the right candidates with the right skill set – the ability to succeed in your franchise and in the type of business environment in which you participate.
We mutually assess your franchise and the franchisee. We look for franchisors with skills and possible experience – we are not here to look for anyone with the money to invest in your franchise. We look for good investors who will become an asset to your brand in the long run.
Keep in mind that you are the highest authority when it comes to your brand. You need to provide candidates with the key information that will enable them to make sound decisions. Once the franchisee becomes committed, it is essential that that level of trust be maintained.
As a Franchise Consulting Agency, we recommend the full disclosure of the franchise sale process. We gather information about potential franchise undertakings based on your background, skills, preferences and budget. Then, a consultation meeting can be set up. These personal consultations are critical as this seals the bond between you and your franchisee.
- We gather information about the franchisee who is interested in your franchise.
- We and evaluate his or her background, experience, business skills, and capacity to invest.
- We set up a personal consultation – a representative from your franchise and the franchisee. This is where the reciprocal evaluation takes place and will determine whether or not you are a good match for each other.
- Once both parties are agreeable, we then facilitate the disclosure of franchise information, legal applications, and the franchise fees. This will help the franchisee decide if the sale is of goof value and worth pursuing.
- An agreement will then be signed. This is followed by the training and education of the franchisee on how to succeed in his or her new business.
After this, consistent monitoring has to be implemented. You need to make sure that your franchisees are happy with the business model that they invested in.
If you are ready to take on new franchisees and establish trust-based relationships through your brand, then it’s time to work with our Franchise Consulting Agency. Call 1-800-388-2810 today!