This chapter discusses selling and marketing research in franchising. It outlines the sales process for both franchisees and end customers. This includes developing a sales kit, conducting an initial meeting, and using a sales playbook approach. The sales playbook covers elements like the mission statement, inquiries, benefits listing, and closing. The chapter also examines marketing research methods like defining problems, developing research designs, and analyzing results to qualify prospective franchisees.
This chapter discusses selling and marketing research in franchising. It outlines the sales process for both franchisees and end customers. This includes developing a sales kit, conducting an initial meeting, and using a sales playbook approach. The sales playbook covers elements like the mission statement, inquiries, benefits listing, and closing. The chapter also examines marketing research methods like defining problems, developing research designs, and analyzing results to qualify prospective franchisees.
This chapter discusses selling and marketing research in franchising. It outlines the sales process for both franchisees and end customers. This includes developing a sales kit, conducting an initial meeting, and using a sales playbook approach. The sales playbook covers elements like the mission statement, inquiries, benefits listing, and closing. The chapter also examines marketing research methods like defining problems, developing research designs, and analyzing results to qualify prospective franchisees.
This chapter discusses selling and marketing research in franchising. It outlines the sales process for both franchisees and end customers. This includes developing a sales kit, conducting an initial meeting, and using a sales playbook approach. The sales playbook covers elements like the mission statement, inquiries, benefits listing, and closing. The chapter also examines marketing research methods like defining problems, developing research designs, and analyzing results to qualify prospective franchisees.
uniqueness of selling in a franchise organization Organize franchise sales programs Learn how to develop a sales kit (sales package) Understand the first meeting between the franchisor and franchisee. Discover the sales playbook
Basic concepts Selling is
encouraging the transfer of products or services from one individual to another. The franchisor is a sales person both to the franchisees and to the end customers Selling is divided to two categories: Selling to the prospective franchisee Selling to the end consumer.
The Journey of Selling
Selling is the highest paid and first profession in the world Foundation of the sales experience is the image of the product, service, or business itself: high quality, high value, important services, reasonable price. Another foundation of the sales is identifying target franchisee, which is based on analyzing prospective franchisee in terms of:
Successful characteristics (personality positive attitudes, inner drive, overcoming of obstacles, operation skills, etc.) History and biographical data Experience Financial net worth
the Franchise business Invitation to join franchising family as a wonderful business opportunity Information on Training programs Announcements of all fees: Basic Franchise Fee, Royalty fee, advertising fee, initial start-up cost. Request for further information
Sales Brochure Ongoing Training and Support from franchisor Brief Explanation of franchising Invitation: include testimonials from existing franchisees. Initial Investment costs: financial overview Historical background and information of franchisor Application form for franchisee (confidential)
Uniform Franchise Offering Circular (UFOC)
After receiving application and preliminary approval by the franchisor, UFOC is UFOC is given to the franchisee 10 days before signing any agreements or payments. UFOC (23 items)provides tremendous information about:
History and background of the franchise All Investment fee; obligations; earnings claims.
Expected Financial statements and contracts attached. Prospective franchisee should discuss with at least 10 or more existing franchisees to learn experiences. They should also discuss their suppliers and customers.
Initial Meeting Initial meeting between
the franchisor and its prospective franchisee The franchisor learns more about the person who may become its franchisee The franchisee can determine whether this is worth to become its franchisee as his lifetime of business.
the buyer Introduce the company, its business, benefits brought to the prospective franchisees or to consumers Forty words or less
Inquiries Ask questions and
collect the answers Respondents: prospective franchisees or customers Questions to ask: who?, what?, when?, where?, how?, why? Probing questions: allow the company to gather information and provide an opportunity to explain their personal wants, needs, and desires.
Opening Benefits Based on the buyers problem and needs Give the buyers an opportunity to improve themselves and their financial positions. Four Ps of selling: Power, Profit, Pleasure, Prestige. Improve the persons lifestyle:
Features and Usefulness of the product or service Benefits: physical and spiritual satisfaction Club membership : pleasure, power Prestige of membership: pleasure, prestige.
Listening 50% of
successful selling is listening to the buyers Listen to recognize and understand buyers needs, wants, desires. Show your attention and concern for the clients.
Closing Closing by
assuming the follow-up
steps. Ask directly to closing:
When do you want to begin? Where would you like to locate your store? When will you be able to start the training program? How do wish to make payment for the franchise fee? etc.
Selling is a Game
Successful sales people realize that selling is a game. When selling, they are in the process of problem solving. They are helping buyers to solve the problem. 10 Rules of Selling Selecting target markets: necessary steps: Targeting markets Segmenting the markets Profiling the customer Qualifying the market segments.
Aspects of customer behavior
Customer needs: the desired goal or objectives which the customer wants to obtain Customer benefits desired: the result the customer wishes to achieve. The reason why the prospective franchisee or end customer will buy the product. Purchase characteristics: behavior and requirements affiliated with the customers buying habits.
Marketing Research The Marketing Information System (MIS) contains various information and data collected from: -Internal records -Marketing Intelligence -Information analysis -Marketing Research
Marketing Research Process
Define the
problem statement Identify the research objectives Developing research designs (questionnaires) Implementation of Research Plan Analysis and Reporting of Results Qualifying the Prospective Franchisee Initial Call Process.
