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How to Choose the Right Franchise Broker

May 25, 2023/in Franchise Sales/by [email protected]

You’ve worked hard to build your business from the ground up and to curate a brand that resonates with consumers. Now, you’re ready to expand your company into a franchise, but you aren’t sure you want to scout for potential franchisees by yourself. Fortunately, business owners can work with experienced brokers to handle this task. So it is essential to choose one that can offer the franchise development services you need. But what are the qualities of a good franchise broker? Consider the following.

In-Depth Industry Knowledge and Experience

Franchise brokers are independent professionals who act as a liaison between a franchise parent company and potential franchisees. They thoroughly research opportunities in a particular area (geographic or industry). They evaluate the parent company, assessing its track record and the likelihood of future success, before deciding whether to recommend it to aspiring franchisees.

The broker is also responsible for carefully analyzing the unique needs and preferences of the candidate to determine which concept or concepts might be the best fit. Since franchise businesses can be found in practically any industry (from retail to restaurant to senior care services), one of the most important qualities to look for in a franchise broker is deep industry knowledge and experience. If you want to expand your home maintenance brand into a franchise, for example, you’ll need to educate the broker on the ins and outs of your industry. That allows you to move forward confidently, trusting that the broker can connect your brand to qualified franchisees best positioned for success.

A Robust Network of Well-Qualified Candidates

When you present your brand to a franchise broker, you do so with the hope that they can connect it to candidates who can build a successful franchise location. Therefore, it makes sense to look for a broker with a healthy network of potential candidates who are ready to invest funds into a brand and who have the professional experience required (if applicable) to make it successful.

A Strong History of Past Success

Just as the franchise broker will evaluate your brand to assess its past success and likelihood of future success, you want to work with a franchise broker with a solid track record. It’s always a good idea to ask the broker group about the brands they’ve worked with and how many successful connections they have made. Remember that in most cases, a franchise broker only receives compensation when a successful placement is made.

Trustworthiness and Transparency

You’ve spent considerable time and resources growing your business to the point you can consider expanding it into a franchise. Now, when you’re ready to grow your franchise, you’ll want to work with a broker who is transparent, ethical, and trustworthy.

Elevate Your Brand With Pinnacle Franchise Development

When you partner with the experienced professionals at Pinnacle Franchise Development, there is no need to worry about finding the right franchise broker for your brand. Over the years, we’ve carefully curated our network of franchise brokers whom we and our clients can trust to bring in qualified franchisee candidates. Contact us today to learn more about our franchise development services.

How Franchisors Can Find Prospective Franchisees

May 23, 2023/in Franchise Growth/by [email protected]

There is a lot of great news for franchise brands and owners as we move toward the end of this calendar year. According to the International Franchise Association, franchise businesses are expected to increase by 15,000 units, adding approximately 254,000 new jobs to the nation’s workforce—outpacing pre-pandemic levels. So, the opportunities are out there, but how do you attract the right candidates? Experts at Pinnacle Franchise Development are here to help.

Try these five tips to grow your franchise.

Start With a Strategic Marketing Strategy

Your marketing strategy is a “road map” for attracting prospective sales leads and converting them into franchisees. It should include the four P’s:

Product: Identify the franchise brand, show why it’s compelling, and how it’s different from your competitors.
Price: Include estimated startup costs, including the initial investment, costs for real estate, supplies and equipment, advertising and marketing, and insurance.
Place: In the franchising world, location is key. Create a profile of the ideal franchise site based on demographics, competitors, and other market research.
Promotion: Describe how you communicate your brand message to consumers through advertising, public relations, social media and SEO content.

Having a clearly-defined brand identity and philosophy is critical before you search for franchisees. You can’t expect investors to “buy in” if they don’t understand who you are.

Tap Into Your Franchise Network

Current franchise owners are an excellent way to connect with new business owners. After all, a thriving franchise is your best advertisement. According to the Franchise Motivation Report, 94 percent of participants spoke with franchisees when considering opening a business.

Try implementing a referral program that encourages franchisees to find new leads and promote the benefits of franchise ownership in their immediate community as well as social and professional networks.

Perfect Your Sales Presentation

A confusing or lackluster sales presentation will discourage potential leads. Instead, keep your pitch simple, informative, and tailored to your audience. Be sure to answer all the questions investors have at this stage to keep the process moving. Your sale may lose momentum if you overwhelm them with data and buzzwords.

Promote Your Franchise on Social Media

Social media is ideal for promoting franchise opportunities. It requires minimal investment, and it yields big returns when it works. Keep in mind; users like to interact with brands. So when you post, be sure to respond to comments and answer questions in a timely manner. Hire a social media marketing team to manage your online presence if you don’t have time.

Leave it to the Experts

You may feel overwhelmed by the job ahead of you—especially if you’re running your own franchise. Help is available. Pinnacle Franchise Development offers comprehensive sales and support services for brands across all industries, including healthcare, beauty, retail, dining and more.

With a combined 50 years of experience in the franchise industry, our team offers comprehensive franchise sales outsourcing and franchise development services. We vet franchisees to match you with the highest-quality candidates and provide sales and marketing strategies to help you shine.

How to Identify Your Ideal Franchisee

May 17, 2023/in Franchise Sales/by [email protected]

The process for selecting franchisees can be challenging, especially when business owners lack the proper support. Selecting the right franchisees is key to a strong overall system and continued positive validation. Not only does the franchisee need the right fit from a business, but the business needs the right fit with their franchisees.

Because the stakes are so high, franchise development services are a must to ensure you make the best decision. Pinnacle Franchise Development excels in this area thanks to the extensive skill and knowledge of our team. We help business owners by guiding them through our carefully designed procedures, which streamline the selection process for the best results.

We do much of the groundwork for you by finding and vetting potential franchisees so that you can select from only the most worthwhile candidates. Read on below to learn more about what to look for in a franchisee and other selection criteria.

What Should You Do Before Meeting Franchisees?

Before beginning your search, sit down and really consider your ideal franchisee. Start by making a list of qualities you’d like this person to exhibit, such as geographic location, characteristics they possess, their level of experience, and other factors you feel are important for success.

Once you’ve developed your list, you can use it to create a “perfect franchisee” persona. This persona will serve as a trusted guide as you meet potential candidates.

What Qualities Should You Look for in a Prospective Candidate?

The best way to grow your franchise is to choose the best person to act as a representative of your business. Substantial growth will only be realized if you select a franchisee that possesses favorable qualities. These qualities can include:

An ability to learn the ins and outs of your business.
Impressive leadership skills to ensure the franchisee can effectively manage their team.
Willingness to put in the necessary hours to make the franchise a success.
Wisdom to know when to forge ahead and when to ask for help.
Sound financial knowledge and responsibility.

A solid franchisee will also be adaptable when it comes to your business. This adaptability can prove beneficial to multiple aspects of the franchisor/franchisee relationship, from a willingness to adopt new business practices.

What Criteria Should You Base Your Decision On?

There’s no denying that the above qualities are an important part of the selection process, but you should never let perfect be an enemy of good. You may not find a candidate that meets every aspect of your selection criteria, and that’s OK. However, you should establish a few deal breakers to help make your decision.

For example, a candidate wants to run the business fully absentee and your model requires owner involvement for the first year. In the same way, a person who is not reliable from a financial perspective can prove risky when it comes to successfully running a business.

Adherence to company culture is another crucial aspect to consider. Even an amazing candidate may not be a great fit if you have vastly different ideas about what makes a thriving company culture.

Because we’re so invested in your success, our team at Pinnacle Franchise Development can help take some of the guesswork out of finding the best franchisee to represent your business. Our comprehensive franchise lead generation strategy is designed to locate the best possible candidates as efficiently as possible, which means you can focus on what you do best: building your business. Feel free to contact us today to learn more.

What Is a Franchise Development Manager?

May 15, 2023/in Franchise Sales/by [email protected]

A franchise development manager works with a franchisor to find prospective candidates and expand franchise locations. They will also help lead and educate potential franchise candidates from their initial contact with your business to signing the franchise agreement. Franchise development managers can be an internal employee, or franchisors can outsource this role to franchise sales organizations, such as Pinnacle Franchise Development.

In addition, managers may guide senior franchise executives in sales and marketing, real estate planning, acquisition, and other key aspects of the franchise process. If you’re seeking a franchise development manager to help grow your business, knowing what to look for is essential. Here’s everything you need to know about how they can take your business to new heights.

What Does a Franchise Development Manager Do?

As noted above, a franchise development manager works with franchisors to find prospective candidates. Your franchise development manager can also help you implement comprehensive processes—from marketing strategies to real estate development—to support your business. This way, you’ll be able to take a fresh approach to franchising by actively seeking out opportunities to grow your business.

Should You Hire a Franchise Development Manager?

Franchise development managers can be a helpful resource, whether you’re just starting or looking to expand your business. They have established connections and relationships with brokers and other professionals, so you’ll have access to the best minds in your industry. They will also develop a precise, effective sales process to lead your candidates through your discovery process.

After all, you’re already working overtime to run your business—and you deserve a dedicated expert who will focus on your brand, sales strategy, and growth. In turn, you’ll be able to focus on day-to-day operations and franchisee support with skilled guidance and experience.

How Can You Find a Franchise Development Manager?

Whether you’re looking to grow your brand or upgrade your sales strategy, choosing the right franchise development manager is critical. Whether you choose to hire in-house or outsource to a franchise sales organization, connection and experience are key to hiring an effective franchise development manager.

At Pinnacle Franchise Development, our growth experts provide a full suite of franchise development services and an unrivaled commitment to our clients. With over 40 years of combined industry experience, we have the tools and resources to support your business. Our process starts with an introductory call with our executive team, where we’ll tailor our franchise services to meet your unique needs. We’ll also discuss your business concept, goals, and how we can help.

From there, we’ll schedule an internal meeting to discuss your franchise disclosure document. If you decide that Pinnacle is the right fit for your business, we’ll move on to our 60-90 day onboarding process. During this, your dedicated franchise development manager and our executive team will work to strengthen and promote your brand.

Reach the Next Level of Franchise Success

When it comes to franchising, finding the right support is essential. At Pinnacle Franchise Development, we’ve created an effective and comprehensive process so you can grow your franchise with confidence. Ready to take the next step? Contact us today to learn how our franchise development services can work for your business.

What Are the Steps to Sell a Franchise?

November 28, 2022/in Franchise Sales/by [email protected]

As a seasoned franchisor, you know that the success of your business lies in the franchisee’s success. So, it’s not enough to sell your franchise opportunity to the highest bidder—you need to award it to the right candidate to grow your brand and establish your reputation.

Ready to get started? Here’s everything you need to know about franchise sales development and how to navigate the sales process so you can take your business to new heights.

Kickstart Your Lead Generation Campaign

Before you dive straight into sales, you’ll need to start a lead generation campaign to build brand awareness. For most franchisors, the biggest obstacle to franchise development is brand recognition. You need to spread the word about your business and highlight the opportunity for new entrepreneurs. But where do you start?

While there are several effective organic marketing methods to drive leads, it’s also a good idea to build an advertising budget. This way, you can get in front of the right people at the right time with an irresistible opportunity.

Follow Up with Franchise Leads

Once you’ve transformed your franchise business into a lead magnet, it’s time to follow up. At this point during the sales process, your main goal is to contact potential buyers and encourage them to schedule their first call.

It might seem simple, but it takes consistency to guide your leads to the next stage of the buyer’s journey. If you don’t have enough time to follow up with your prospects, a dedicated team can help you every step of the way. At Pinnacle Franchise Development, our franchise development services can help you engage new leads and expedite the sales process.

Choose the Right Candidates

As a franchisor, part of your success lies in your ability to choose the right candidates to represent your brand to customers. Beyond traditional interviews and background checks, create a profile of your ideal franchisee to help guide you. You’ll also want to look for franchisees who are passionate about the business and the brand. At the end of the day, their commitment will motivate them to work hard and deliver your brand promise to customers.

Discovery Day and Awarding

Selling an independent business is different from selling a franchise, and you’ll need to give your buyer a copy of the FDD 14 before awarding the franchise. You will also host a Discovery Day, it can be either virtual or in person. This allows the candidate to get an inside look at the model and corporate support, and also gives you an opportunity to get to know them better. Now that you’ve found some qualified candidates, you can draft your franchise agreement and start the awarding process.

Take a New Approach to Franchise Development

Here at Pinnacle Franchise Development, we’ve developed a proven franchise development process to guide franchisors and candidates every step of the way. From promoting your business through different marketing channels to building brand awareness, we’ll help you reach the next level of success. Contact us today to learn more about our comprehensive franchise development services and how we can help grow your franchise.

Type of Franchises: Which Is Right for You?

November 15, 2022/in Franchise Types/by [email protected]

Building a business from scratch isn’t easy, but what if you could have all the benefits of entrepreneurship with the resources of an established brand? Franchises are excellent investments, giving owners access to a dedicated support team and a proven business model. With so many available, understanding the different types can help determine which opportunity best suits you.

Which Franchise Type Matches Your Style?

Different franchises offer varying levels of responsibility, operating costs, personal freedoms, and more. Though franchises may fall within any number of industries, the different types are distinguishable in three clear categories.

Hands-On vs. Semi-Absentee

When it comes to franchise ownership–ask yourself how much you want to be involved. For example, if you want to spend time managing the day-to-day tasks of growing your business, your best fit will likely be a single-unit franchise (e.g., operating one location). On the other hand, if you’re a big-picture person who wants to be involved in the business but not the day-to-day tasks, you could invest in a multi-unit franchise and hire day managers while overseeing the overall growth.

A semi-absentee franchise model could be ideal if you’re looking for something to help bring in extra income while still working your day job. You can do this by either hiring a manager to operate your business or selecting a franchise that requires minimal management, like a Clothes Bin.

Remote vs. Brick-and-Mortar

Do you want to work remotely or from a physical location?

It’s important to think about this before you invest in a franchise. For example, would you prefer a brick-and-mortar storefront, like a restaurant such as Go Go Curry? Do you want the responsibility of managing leased premises and operating equipment? Perhaps you would rather have a business that you can run from anywhere. Knowing how you want to work will help you decide on the right strategy.

If you’re looking for something in-between, mobile franchises provide services to individuals at their homes or business, so you don’t have to be concerned with a physical location. If this sounds like the ideal model, Shine or Vanity Fur Mobile Pet Grooming could be excellent options.

Service vs. Retail

Do you like interacting with customers? Do you have experience working in a storefront? Retail and service franchises tend to draw investors who enjoy interacting with the public. In addition, they often have a background in the brand’s industry, making it a natural fit. Whether your interest lies in fashion or food service, brick-and-mortar store operators will be in daily contact with their customers. If that’s not for you, neither is this model. If you want to be a people-person without a storefront, service franchises such as ManageMowed or Joshua Tree Experts could be the way to go.

How to Choose the Right Franchise

What’s the secret to growing a successful franchise? It all starts with your passions, business acumen, and skillset. When you launch it, you’ll benefit from a proven product or service while still being your own boss. But you’ll still have to dedicate time and effort to growing the business. Whatever your path to success looks like, choose a franchise industry that aligns with your interests. Then, you can narrow your franchise opportunities by management style, franchise costs, support options, and other factors.

And remember: You don’t have to do all the hard work on your own. Whether you’re an ambitious self-starter or searching for your next investment, our professional team is here to match your unique interests and goals with the ideal business model.

Reach New Heights with Pinnacle

Searching for a fresh approach to franchise development? Ready to invest? At Pinnacle Franchise Development, our team works with all franchise types to drive leads, build custom marketing plans, outsource sales, and more.

Check out our franchise brands and reach out to our team to learn more about our innovative franchise opportunities.

Should I Use a Broker to Sell My Franchise?

November 7, 2022/in Franchise Sales/by [email protected]

As a business owner in search of franchisees, you already appreciate the importance of candidate selection. You also know the many steps involved, from finding the right prospects to vetting them. Because the process is so detailed, it is highly recommended for business owners to work with franchise brokers, also known as franchise consultants, to help find ideal franchisees.

Throughout our long history in the franchise development industry, Pinnacle Franchise Development has built strong relationships with a network of trusted brokers. We use these relationships to benefit franchise owners in search of buyers.

What Are Franchise Brokers?

Franchise brokers serve a critical role in the relationship between franchisor and franchisee. When it comes to finding qualified buyers, a broker will search for prospects and perform all the due diligence necessary to ensure a good fit with the seller’s enterprise. If they find a match, the broker will reach out and share the opportunity.

Regardless of whether you are looking to sell your franchise or purchase one, it’s the franchise brokers who can deliver sound opportunities for parties on either side of the transaction. In the franchising services industry, broker assistance significantly widens the playing field.

Franchise Broker Benefits

Some businesses forgo brokerage assistance to save money. However, consider the financial risk you take without the broker’s connections. How well do you know who’s in the market? And remember, it takes a lot of time and effort to navigate the sales process on your own. Those are hours that could be spent on your other business objectives.
With this in mind, think about the following benefits you receive when you retain the services of a broker:

Greater Chance of Success – The quality of your franchisees is a non-negotiable point. Fortunately, brokers typically have a wide network of candidates to choose from, which increases the likelihood of finding the right candidate. It is challenging to identify a suitable buyer on your own, but a brokerage firm will already have a reliable process in place. Based on the 2020 Franchise Sales Index: Lead-To-Deal Ratio statistics – the second largest source of leads that turned into deals was from brokers (after referrals). Leads from brokers have a high conversion rate at 4.25%, which is why working with franchise brokers is so lucrative. Learn more about this data by listening to the franconnect webinar.

Help with Due Diligence – Once you find a prospective franchisee, the next step is to vet them. Due diligence is vital to the success of the sale, and a broker already has the skill and tools on hand to thoroughly evaluate and verify financial records, credentials, and other revealing information.
Time – In addition to the complexities of the due diligence process, it can also take a lot of time. With a broker’s assistance, you can rest assured of a reliable process without taking time away from other vital business processes.

For nearly a decade, Pinnacle Franchise Development has been a leading force in the industry. We have established relationships with a variety of broker groups and know the best practices to effectively working with them.

Our team has connections to a variety of brokers whose services we recommend and who will be happy to introduce you to qualified franchise investors in their network. Let Pinnacle continue to support you through every step of the sales process, while you focus on other essential business matters. Please contact us to learn more about our services or to schedule a consultation.

The Obstacles to Selling Your Franchise

November 1, 2022/in Franchise Sales/by [email protected]

When it comes to the company you poured so much time and effort into, it’s natural to want only the best and brightest franchisees to come onboard. However, finding quality buyers is often easier said than done, especially when you factor in all the other tasks and responsibilities that you face as a business owner every day.

There are numerous challenges that can impede a franchise sale, which is why it helps to have a trusted partner in your corner. Pinnacle Franchise Development provides essential assistance to businesses when it comes to the sales process. We also offer helpful tips and guidance to help businesses clear the hurdles standing in their way.

Here are a few of the challenges we can help you overcome.

Securing Quality Candidates

A franchise is only as good as the franchisees, which is why candidate selection is so important. In addition to financial considerations and candidate experience, you want to ensure that the buyer you choose embodies a sincere representation of your business and values. A good vetting process helps you determine which candidates are worthy of further investigation, as opposed to sitting down with every person that expresses interest in the sale.

Performing Due Diligence

Of course, candidate selection is just the beginning. From there, you must perform extensive due diligence to ensure the candidate has what it takes to successfully run the franchise. Proper vetting can be extremely time-consuming when performed correctly, and not all business owners will have the time and patience to devote to the process. A lack of time can result in cut corners and oversights, which may come back to haunt you in the form of costly delays and missed opportunities.

Overseeing Technical Details

The work continues even after you’ve chosen the best candidate. Next, you must navigate through all the technical details involved in onboarding the potential buyer. While not necessarily complicated, there is much room for error when it comes to filling out documents and filing items in a timely manner. Among the many other franchising services we provide, we can also handle all the technical aspects of the transaction. For instance, our team can cover application processes, create marketing materials, and resolve other practical matters crucial to a timely sale.

Pinnacle Franchise Development Welcomes Challenges

Here at Pinnacle Franchise Development, we’ve developed a trusted, streamlined franchise development process to benefit franchisors. By doggedly promoting your business via different marketing channels and enhancing brand awareness among the leaders in your industry, we will find the best candidates in your industry and vet them thoroughly.

When we find one, we’ll strike while the iron is hot and arrange a meeting as soon as possible. Meanwhile, we will remain in your corner until we secure a positive outcome. Please contact us today to learn more about our services and how we can facilitate the sale of your franchise opportunity.

Most Popular Franchise Industries

October 21, 2022/in Franchise Growth/by [email protected]

One of the United States’ most significant contributions to the world of business is the franchising model. When John S. Pemberton began issuing licenses to sell Coca-Cola in 1886, he gave aspiring entrepreneurs a glimpse at the money-making potential of this industry. Today, there are nearly 800,000 franchise establishments in the United States alone.

What Is the Franchise Model?

Under the franchise model, an established business owner–called the franchisor–issues a license to another individual called the franchisee– to use their branding, business model, and trademarks. In exchange, the franchisee typically agrees to pay the franchisor a royalty fee and a percentage of their sales revenue.

Top Franchise Industries

Franchising has proven to work exceptionally well in the following industries:

Food and Restaurant Franchises
Many of the most well-known franchise brands, such as Coca-Cola and McDonald’s, operate in the food and restaurant industry. With many restaurants, the replicability of the food and its preparation lends itself well to this model. In addition, providing a quality, uniform product across a restaurant’s franchise locations allows it to build a broad and loyal customer base.
Vending Machine Franchises
Vending machines have a significantly lower investment than many other franchise businesses. Therefore, many savvy entrepreneurs diversify their income stream by investing in this type of franchise. And since vending machines can be placed almost anywhere, it is considerably more flexible than other industries.
Senior Care Franchises
Senior care is a rapidly growing sector in the U.S. economy. An article in Forbes states that a large portion of the 67 million Americans over 60 need care, and with 10,000 baby boomers turning 65 every day, that number will grow. Senior care is a complex business because it is an industry that has unique healthcare needs. That’s one reason why senior care franchises are popular–the franchisor has already worked out the issues and complexities in the business plan.

Most Profitable Franchise Industries

Some franchises can be immensely profitable, particularly if they have a well-established brand and market share. Some of the most profitable include:

Fast Food Restaurants
Many of the most popular restaurants in the nearly $300 billion fast food industry generate impressive revenue yearly. However, fast food is also a notoriously difficult industry to enter for startups. As a result, many entrepreneurs choose to open franchises with already-established restaurants.
Education Franchises
As a result of the impact the COVID-19 pandemic had on education, the education industry is expected to grow at a 10.7% compound annual growth rate in 2022. In addition, these service franchises are often incredibly profitable due to low operating costs.
Hair Salon Franchises
The hair salon market grew 19.6% as COVID-19 began to wind down in 2022 after falling precipitously when the pandemic started. Hair salons are among the most profitable service franchises due to their low operating costs and high retention rate.

Discover Franchising With Pinnacle

Pinnacle Franchise Development has helped numerous entrepreneurs invest in and grow franchise businesses in many of the most profitable and popular industries, including senior care, hair salons, retail, restaurants, and more. Our team has over 40 years of combined experience and can provide franchising services to assist you with everything from marketing and branding to lead generation.

Whether you would like to grow an existing business or learn more about one of our strong franchise brands, contact our franchising experts to find out how we can help you.

How to Position Your Brand for Franchise Sales

October 7, 2022/in Franchise Sales/by [email protected]

If you’re interested in growing your business through franchising, it’s essential to consider how you’ll position your brand against other franchisors. Moreover, it will help you to stand out by articulating what makes it unique and why it’s a good investment. This is necessary to attract the right franchisee. At Pinnacle Franchise Development, we are equipped and ready to assist franchise brands with their development needs to reach the next level of success. Contact us for more information.

Tips for positioning your brand

As noted, positioning your brand so that it’s ready for the franchise sales process means you’ll attract the right type of franchise leads for your business. Here are some tips to consider:

1 – Start with your product

Review your products or services and ask yourself what differentiates them from your competitors. If it’s significant enough to distinguish your brand, it’s worth exploring. Whether you’re selling products or services, there are always ways to elevate it to make it appeal to franchisees over a competitive investment option.

2 – Assess your business as a potential investor

As a business owner, it’s essential to consider how your brand appeals to potential investors. For example, does your franchise offer lower risk than investing in other areas like the stock market? Can it yield high returns? What lifestyle will it provide to franchisees? Assessing your business through the eyes of a potential investor can help you determine how realistic your franchising goal is and where to focus to help make it more attractive.

3 – Consider your niche

If you’re operating in a category competing with many other franchises, finding a niche market your business can own is vital. Offering something unique helps you to stand out amongst a sea of possibilities. For example, many pizza franchise options are available, but some have carved out niche segments to succeed. This niche can relate to the type of pizza, the dining experience, or the price point. Again, there are plenty of options to consider.

4 – Assess your culture

Your work culture can be essential in attracting the correct type of franchisees for your business. First, assess your values, goals, practices, and shared attitudes, all of which make up your corporate culture. Then, make sure it accurately represents your brand; if it doesn’t, make the necessary changes. Many potential franchisees research a company’s culture and look for alignment with their professional goals when making investment decisions.

5 – Review your customer service

While many brands say they value customer service—what makes it unique for your business? For example, what do you do that goes above and beyond what your customers expect?

Sometimes it can be the simple things that make a difference. For example, consistent messaging with your frontline staff so that all your customers experience the same level of service at any touch point. Alternatively, you might offer flexibility, so your employee’s personality has the opportunity to shine, which allows them to develop strong relationships with your customers. Use of technology is also a major asset when it comes to improved customer experience and convenience for the franchisee. Whatever it is, look for opportunities to optimize your differentiation for customer service–so that it appeals to franchisees.

6 – Compete against well-known brands

If you’re a small business in an industry with large established companies, consider what your size offers and play this to your advantage. For instance, as a smaller operation, you may have excellent relationships with suppliers, or offer personalized support to franchisees. Find your strengths that you know larger competitors can’t compete with and use these to attract the right type of franchisee for your business.

7 – Get professional advice

Implementing multiple strategies to promote your brand to franchisees may be tempting. But it’s better to consider your most vital point of differentiation and enhance or improve this element.

That’s where using an industry expert can help. An experienced franchise sales team understands gaps or opportunities to help create a unique value proposition for franchise sales. They can help you develop your positioning as an investment opportunity and use the right marketing strategy and tools to create high-quality leads for your business.

Need help with your brand’s positioning?

At Pinnacle Franchise Development, our experienced team has helped new and established franchisors perfect their brand positioning, so they’re ready for a streamlined sales process. Our team members are experts at branding, value propositions, franchise marketing, and accurately representing your brand to brokers and prospective franchisees.

Contact franchising experts at Pinnacle to discover our full range of franchising services and find out how they can position your brand effectively to expand your franchise.