Posted by Joe Caruso | Category Sales
I've been selling franchises for quite awhile. It might surprise you to learn that I had never held a Discovery Day until years after I began selling franchises. Yes, that's right I sold franchises without a Discovery Day with tremendous success. And I'm confident having a Discovery Day would have sold less franchises. When I started selling franchises at a capital intensive quick service restaurant - QSR franchisor I went through my franchise development process training to learn how they sold franchises. Here's some of what I learned about their franchise sales process. About three years earlier the QSR franchisor
Posted by Joe Caruso | Category Sales
Alright it wasn't the worst franchise ever. Start-up franchisor had been selling franchisees under Area Development Agreements for about 2 1/2 years. The investment ran about $450K a unit including franchise fee. They sold 8 Area Development Agreements that had close to 400 unit development commitments. The Area Developers were not sub-to franchise and were required to directly operate the franchises. The franchisor seemed to be on solid ground for a start-up since they also had 22 company locations. It looked very promising! This franchise brand seem ready to take off and be the next McDonald's. Well not so fast.
