Hiring the wrong franchisees is not only frustrating; it is also a waste of time that could have been spent looking for people who fit into your ideal franchisee pursuit. It is important to take the time to comb through the piles of applications in order to find the franchisee who will help grow your business instead of impede your business.
Here are a few ways to help you attract the right franchisees to your company:
1. Industry Events
One of the best ways to bring in the right clientele is through industry trade shows. These events usually focus on a certain business demographic, which usually has a built in target audience. For example, if you are in the restaurant business, attending a conference or event targeted to the franchising of food related businesses would be an ideal place to meet potential franchisees.
Additionally, consider using online resources, such as websites like FranchiseExpo.com. This site and those of the like are geared toward helping franchisees find a reputable franchisor. This can help lead the right franchisee to your door.
2. Company Culture
In order to find the right franchisees, make sure your business is attractive to them. Quality franchisees will typically look for a franchisor that can offer them a strong support system. If your company lacks a code of ethics, many franchisees will be quick to look elsewhere, leaving you with the desperate franchisee applications.
Moreover, if you have attracted quality franchisees, having a moral company culture can help keep them with your company. One of the best ways to foster company culture is to remember that your franchisees are not simply numbers. Although they bring in numbers, they are people who are representing your company. If you want them to remain representing your company, treat them with respect.
3. Brand Ambassadors Turning your current franchisees into brand ambassadors can be one of your best marketing tools to attracting new franchisees. If a potential franchisee is investigating various franchisors, chances are they will visit different locations with a list of questions to ask the franchisee. Hopefully, your franchisees will encourage potential candidates to apply not because they feel coerced to, but because they truly believe in the company's success 100 percent.
4. Social Presence
With the online trend continuing to grow, it is important franchisors have a strong online social presence. Not only is the Internet one of the resources for research, it is also one of the best ways to promote your business. Include data analysis and statistics for your company on your business's website so potential candidates can see how well you have been performing.
Using these four ideas to attract potential franchisees can help you weed out the bad ones in favor of finding the good ones.