The first Coconut Qualified Professional Franchise (QFP) workshops of the year have got off to a roaring success. Our first QFP workshops of the year ‘Speed up Your Network Growth’ and ‘How to Motivate your Franchisees’ provided franchisors, both large and small, with skills and knowledge to take away and implement within their businesses straight away.
“Every time we hold a workshop, it’s great to see so many people in the room who are engaged and taking in the advice that we’re giving. We work hard to make sure the workshops run smoothly and that the content is interesting and valuable to everyone there. There was such great feedback at this workshop from the franchisors who attended and we’re so pleased that our content also helps even more people become qualified in the franchise arena,” explains Paul Clegg, Managing Director at Coconut Creatives.
Since 2010 we’ve had over 200 franchise brands from the franchise industry benefiting from our practical workshop programme to fine tune their franchise recruitment and marketing performance. Our workshops have grown year on year and we’re so proud that they’re now accredited by the bfa. Franchisors take away such valuable information and we provide relevant examples and case studies.
Here’s what a few of our attendees had to say:
“Great day with plenty of hints and tips to take back and start implementing. I loved the guest speaker and it was invaluable to share ideas with sector colleagues,” Karen Atkinson, Cafe2U.
“Fabulous, one of the best and most relevant courses I’ve attended for this stage of our franchise development,” Lisa Curteis, Rosemary Bookkeeping.
“It has been the most inspiring, relevant workshop and I’ve been left with so much that will help me to make improvements – something from every part of the day. The workshop content delivered above and beyond my expectations,” Amanda Wigzell, Little Squigglers.
“I have been wowed into a new world of marketing my business in a clear way and in manageable chunks,” Clare Carrick, Back in Motion.
“This course gave me the tools and the confidence to take my business further and feel ‘I can do this!’,” Rosie Mead, Musica.
In our last blog post we looked at Making The Most Of Your Existing Database and discussed the importance of sending regular communications to your database of prospective franchisees. One of the ways we suggested is to send a monthly newsletter or (as we like to call it) a keep warm email!
So sit back with a cuppa and watch this month’s #CocoQuickTip on how to keep your leads warm.
If you have any questions you would like answered in a #CocoQuickTip video tweet them to @coconut_creativ using the hashtag #CocoQuickTip
Your existing database is a goldmine of prospective franchisees that most franchisors forget to engage with explains Adam Love, Head of Online Marketing at Coconut Creatives.
Your existing database is full of prospective franchisees. You may have been in touch with them when they first enquired but when they didn’t progress any further down the recruitment process, it is likely that you threw them back into the pot and you haven’t really been in contact with them since. Your database is a valuable resource and it is important to keep in contact with your prospects on a regular basis to give yourself a greater chance of recruiting more franchisees.
There are a number of reasons why prospects may remain in your database for a long period of time before they become franchisees. Personal and financial situations may change, which is why it is important to keep your franchise in the front of their minds so that when they do decide to take a leap of faith, you are the first person they will come to.
Regular communication with your existing database is crucial, especially if you are operating on a low budget. By making the most of existing prospects, you can save money and resources on finding new leads and focus more on the high quality leads you already have.
How do I re-engage the leads in my database?
For your communication to have maximum impact, it is important to make sure that it:
Is attention grabbing
Has a target audience in mind and has the correct tone
Is short and clear
Creates demand
Includes a call to action
Offers an incentive.
When you are communicating with your database, make sure you have something to say or something to offer to get the best response. Things you could offer include:
Expert guides
Hints and tips
Personalised invitation to visit HQ
Industry reports
Tour of a franchisee’s business
Monthly newsletter.
Regular activities like the ones listed above come at little or no cost to you but offer a great return – new franchisees! Even if the prospects don’t sign up straight away, these activities will keep them ‘warm’ and interested in your franchise. Regular contact also builds trust between you and your prospects which is essential once the franchisor-franchisee relationship has been formed. It will also help you to stay ahead of your competition and make sure your brand is the first that a prospect will think of when they decide to take the next step in the decision-making process.
Having the right marketing plan can make the difference between your franchise being a success or failure, says Sarah Carlile Founding Director of Coconut Creatives.
Prior to creating your marketing plan, it is important to clearly set out what it is that you want to achieve. This will give you a thread to work to and follow throughout and make sure that your team all know what it is you are trying to achieve and by when. Doing this will prevent you from wasting time and money on the things that may be less effective in your recruitment process. Read Part 1 to get advice on how to set your objectives.
The general rule of thumb is that you’ll obtain one to two franchisees per 250 leads. This conversion rate means you’ll need to have a robust marketing plan in place to ensure you attract the right individuals through the right channels.
Here are just a few of the marketing channels available:
Social media
Networking events
Word-of-mouth referrals
Your website
Franchise recruitment websites.
Identifying the right communications channels for your franchise
I’d recommend researching some of your existing franchisees to build 2-3 profiles of the ‘perfect franchisee’, allowing you to understand the ideal types of individuals, highlight key communication channels and understand key aspects that appealed to them.
Don’t worry if you don’t have any franchisees just yet, you can still create an accurate profile that predicts their behaviour during their purchase journey.
Consider the seasonal influence of your marketing channels – when the major franchise exhibitions are and how you’ll experience a peak in enquiry levels.
Integrating the decision-making process into your marketing plan
According to the Business Dictionary, the consumer-decision-making process is as follows:
Identify needs
Collect information
Evaluate alternatives
Make the purchase decision.
Once an individual has decided upon the franchise route, they’re likely to explore different types of franchises, levels of investment, profitability and so on.
When buying a franchise, the individual is committing to a lengthy contract with the franchisor, a large investment fee, additional start-up costs and adapting their whole lifestyle. We’ve found that it generally takes between three to six months for an individual to make the final decision.
The franchisor needs to lead individuals through each stage, providing them with resources to resolve any of their queries. Consider your current lead management process and how it aligns with the research you’ve gained from your existing franchisees. Plan what information you’ll provide at each stage and what aspects you could develop that will help to build trust between you and your prospects.
Earn your QFP points by booking on to our Franchisor Workshops! Each one worth 250 points!
Coconut Creatives is delighted to announce that we have received Qualified Franchise Professional (QFP) qualified event status from the bfa! This means that you can now attend our workshop programme as part of your own QFP training.
Each day of our workshops is worth 250 points and will count towards your overall QFP qualification. Our workshops are available to attend throughout the year and in both the North and South of the UK to make it easier for you to come along and work towards your QFP status. We’ll teach you everything you need to know about franchise recruitment and give you a strategy and techniques that you can take away to implement within your own franchise.
QFP status will give you formal recognition of your professional approach to franchising. At Coconut, we want to share our own knowledge and over a decade of experience with you to help you develop your understanding of the franchise industry.
QFP status demonstrates that you understand the complexities and best practice in franchising and have invested time to continuously develop your understanding.
Benefits of QFP:
Industry-wide recognition
Increasing franchising knowledge
Improved business effectiveness
Demonstrable competitive edge
Increase value to your business
Enhanced career opportunities
The next workshop, ‘How to Motivate your Franchisees’ will be taking place on 14th April 2016 and places are filling up fast so don’t forget to get in touch and book your place.
Please contact us on info@coconutcreatives.co.uk or 01725 511 673 to book your place on our next workshop or find out more about our programme throughout the year.
