Episode #18 - Franchise Development 101 (Sales)

My Podner on today's show is Mike Pollock and he's going to give us tips on how to build a franchise development system for your franchise. But it was more than just that because we also talked about how to take a warm lead through the process to close the deal. Time Stamp Mike Pollock Intro 00:00:40 Segment 1 00:03:15 Get to know Get to know Mike Segment 2 00:22:10 Topic Segment – Franchise Development 101 (Sales) Segment 3 01:18:40 Quickdraw Questions Topics discussed in this episode: How to set up an efficient process for franchise development · Brand Overview Presentation (45 minutes to 1 hour long) · Develop a solid franchise prospect application that focuses on: o Background o Financial situation · Have the Unit Economics Call o FDD introduction call (15 minutes) o Unit Economics (45 minutes) o Receive signed Item 23 (Proof of receipt of FDD) o Password o Validation instructions · Validation Debriefing Call · Discovery Day o Brand Overview Review o Meet the Team o Lunch and dinner are the best opportunity to visit with prospects o Field Visits · Voting Process It is best to have multiple prospects attend a discovery day (between 4 and 5) If you are going to hire a company such as FranLift to manage the franchise development process, then it is best to get them involved earlier rather than later. Have a marketing budget set aside in advance. It typically costs between 8K and 15K to bring 1 franchisee in the door. Mike Pollock FranLift Franchise Experts mikep@franlift.com 214-551-0261 Kit Vinson FranMan Inc. (Franchise Manuals) Kit.vinson@franman.net 214-736-3939 x1

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Episode #18 - Franchise Development 101 (Sales) is an episode from The Franchise Manual Podcast by Kit Vinson.

This episode is 01:26:32 long.

This episode was published on Aug 22, 2018.

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