How to Overcome New Franchise Objections
How to overcome new franchise objections.
Part of being in the trenches with our clients, we’ve gotten lots of objections as to why I should buy a start-up franchise. Our team has become highly skilled in meeting those objections and overcoming those objections. Recruiting your first franchise is a challenge, here are 9 tough questions and the answers to overcoming those objections.
1. How much can I make in the business?
As much as you can is the right answer. Work the model correctly, follow the operations manual and guidance of the franchisor. The franchisee only focuses on operations and has no innovation responsibility. Executing a proven model with no worries about the next great product, promotion or policy allows the franchisee to execute and grow a proven model.
2. How much does it cost to open this franchise?
Talk through the initial investment overview. Use your range from the Item 7 initial investment overview. Talk about financing, usually, about 1/3 of the total amount can be put towards a loan and used to open the business.
3. What kind of support and training do I get from you?
Focus on the technical, operational and marketing support. We help you get business by doing this…..and we help you manage your operating model by doing these things…..and…… Always turn the answer back into something that directly relates to them and their business.
4. This is a new franchise, why would I invest in this?
Focus on support, time energy and the critical nature of their success to the overall growth of the brand. A larger franchise doesn’t need you as much as we do, we HAVE to make you successful.
5. How will you help me find a location?
We have a team of commercial real estate agents we work through in just about any market and can find locations in most spaces. Our role will be to support this process and then help you negotiate the lease and costs associated to make sure you are getting the best deal possible.
6. Can you guarantee success in some way?
No, we can’t guarantee anything related to numbers or “success”, which may be different for any franchisee, but what we can guarantee is that you will have a higher chance of success and you will have dedicated support from us in everything you are doing. It’s like joining a team where everyone is looking out for one another and we care deeply about your success within the group.
7. What about marketing, what are you doing to help me get more business?
We will be conducting national and broad scale marketing to generate awareness for the brand and let people know about the franchise overall. We also make sure that all franchisees in a given market are doing cooperative marketing and driving in business on a regional level which can be cost effective and really targeted. Also, each franchisee is required to implement our local marketing campaigns which will be managed locally and drive in traffic at the store level.
8. How will I get my staff and hire people to help me manage the business?
We have proven recruitment and training processes so that you can build your team of key people within the organization and staff your business. You will get manuals and process for all of this.
9. How does the franchise work and why would I not just do this on my own?
The proof is in the numbers, franchises have a much higher success rate than start-up businesses and in general, it’s because we have a roadmap already laid out for you to follow so that you can skip the mistakes and avoid the pitfalls of a new business. We want you to get your business ramped up quickly.
A great candidate will accept theses answers and move forward, wanting to get in on the ground floor opportunity.
Remember we are recruiting, not selling. Skepticism is OK, but belligerence is not. Those critical of the systems in place are likely not to follow the model. If questions are too personal, aggressive or irrelevant then is a sign that the candidate lack the correct emotional and/or intelligence quotient to run your business
For more information on how to sell franchises and how to develop a franchise sales strategy, contact Chris Conner with Franchise Marketing Systems: