Are you ready to give your franchise recruitment a kick start? Recruiting the best people to take on a franchise in your system is critical to its development. And that starts with a solid recruiting strategy. Is it time to take a fresh look at what you are giving potential franchisees?
If you need to tighten up your franchise recruitment, it helps to see the whole process from a franchisee’s perspective.
So Inside Franchise Business asked James Young at DC Strategy to reveal the information franchise buyers will likely want to know or research before committing to a franchise network. As Young points out, potential franchisees have a high level of expectation today.
Here are the top seven things to think about when you review your recruitment process…
7 questions that help pump up recruitment
- Does your recruitment and sales process give an accurate overview and provide insight of life as a franchisee?
- Is your financial data up-to-date and professionally presented? It is critical that you are presenting historical accurate financial data and not making promises of future performance.
- Is your operations manual prepared, current and of a high quality?
- Does your disclosure document meet the requirements outlined by the Franchising Code of Conduct?
- Have you arranged a marketing fee exemption if required?
- Are you willing to reduce percentages related to marketing fees or royalties in order to get the franchise sale across the line?
- Have you provided previous or current franchisee contact details to help as part of their due-diligence process?
As a franchisor, you want to help and assist your new franchisees as much as possible, especially during legal reviews and when negotiations and requests start coming up. Franchisees are looking for trust, transparency and a reliable business that will help them realise their dream of becoming a business owner.
- What do franchise buyers want? Check this out.