3 Tragic Ways CEOs Kill Off Franchise Sales

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Growing your brand through franchising is a demanding and exacting proposition.

You need to mindful of all the franchising rules, regulations and administration requirements.  

And you have to have a great plan with a talented franchise sales leader working the program.

Here are 3 huge errors CEOs make when hiring a VP of Franchise Sales -

  1. You expect the VP of Franchise Sales to rely on their rolodex for leads. Assuming that could work. What do you do after they run through their contacts. Were you hiring a franchise sales professional or hiring their rolodex?
  2. You want to sell multi-unit deals to established and proven operators and you think all your VP of Franchise Sales needs to do is cold-call multi-unit franchise owners and sell them on your concept. You can't explain to anyone how this works. And there isn't anymore to this plan than an executive order to smile and dial. Here's what happens. Your VP of Franchise Sales will do it and give up or pretend to do it and tell you he is. In either case this won't work.
  3. You will pay a market rate for an experienced VP of Sales. But invest little to no money in franchise recruitment marketing to reach potential franchise operators. Instead you'll rely on VP of Marketing's consumer marketing to build interest in the brand's franchise offering. Despite the fact the consumer messaging is about your products and franchise sales messaging is about the franchise investment. 

Now if you made any or all of these mistakes it's not too late to right the ship.

They will require some concentrated effort on your part and thoughtful collaboration with your VP of Franchise Sales.

Get over item number 1 and then take items 2 and 3 one by one and fix them.

If you need help with righting your franchising program give me a call at 443.502.2636 and we can work on this together. 

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