Franchise Growth | Pinnacle Franchise Development

Learn more strategies for franchise growth.

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.

Why Franchising Is Growing in Popularity

October 6, 2022/in Franchise Growth/by [email protected]

After working hard to grow your business and make it successful, you’re beginning to think about setting up a franchise. Franchising has always been a popular way to expand a successful business beyond its original geographic footprint, with good reason. Business owners simply can’t run dozens of locations, but offering franchise opportunities to other aspiring entrepreneurs is good business sense. It’s a great time to work on setting up – or purchasing – a franchise, as this business model continues to grow in popularity.

The popularity of franchise business models

Franchise models are popular among both franchisors and franchisees. For franchisors, this model allows for virtually limitless growth and skyrocketing revenue without worrying about taking on debt in order to fuel that expansion. Franchisors are using the financial resources of the franchisees in order to expand the company while limiting their own potential liability. Furthermore, business owners who decide to set up multiple locations on their own are faced with the unpleasant task of trying to hire, train, and retain managers to operate those locations. In contrast, franchisees are already highly motivated individuals who want their locations to succeed.

For franchisees, choosing to buy into an established brand is a no-brainer compared to attempting to launch a new brand on their own. The established brand provides them with instant name recognition, extensive marketing capabilities, a proven system, and training resources.

How have franchises fared during pandemics and recessions?

For these reasons and more, franchises have been growing in popularity for quite a long time. In recent years, all types of business owners have faced challenges due to the pandemic and the threat of a recession. Yet, the franchise business model has held strong. Consider the following statistics from the 2022 Franchising Economic Outlook report published by the International Franchise Association.

• In 2021, franchise output grew by over 16% for a total of nearly $788 billion.
• In 2021, franchisees increased their hiring by 8.8%, adding more than 46,000 jobs to the economy per month.
• In 2022, the growth rate for franchise locations is expected to be 2.2% (over 792,000 franchise locations compared to about 775,000 in 2021).

It’s clear that franchise businesses have rebounded well from the pandemic, when many franchise restaurants, retail stores, and other types of businesses had to shut their doors or operate under reduced/modified circumstances. How exactly have franchises proved so resilient to adverse conditions? One reason is that, unlike individually owned businesses, franchise businesses share one thing in common: robust, well-established, time-tested infrastructure. Because of this, franchise businesses can withstand not only pandemics, but also economic recessions.

You’ll still need expertise to make your franchise business successful

As popular as franchises are these days, they still require quite a bit of work to set up and market successfully. For best results, contact franchising experts who can provide franchising services ranging from consulting to lead generation to marketing and beyond.

Pinnacle Franchise Development offers a full spectrum of services to elevate franchise brands. Contact our experienced industry professionals today to find out how we can help fuel your success.

How to Manage Labor and Food Costs While Growing Your Franchise

September 14, 2022/in Franchise Growth/by [email protected]

It’s no secret that food prices have been rising significantly. There are several major factors fueling inflation and the sharp increase in food prices, including the pandemic, supply chain disruptions, and increased fertilizer and fuel costs. The Russian invasion of Ukraine has jeopardized the global supply of grain, sunflower oil, and other core commodities. All of this means that restaurant owners must cope with pricier inventory. On top of that, labor costs are also rising, thanks to the elevation in the cost of living.

Here’s a look at how you can continue to grow your restaurant franchise while keeping food and labor costs manageable.

Capitalize on the desire for quality

Surprisingly, the cost of eating at home has been soaring faster than the cost of dining out. You can take advantage of this and entice more people to eat out at your restaurants by helping them to justify the decision to dine out. One effective way to accomplish this is to sub in higher quality ingredients—and then advertise the adjustment. For example, if you sell burgers, offer a brioche bun instead of the usual white roll.

Launch new promotions

During times of high inflation, savvy consumers are always on the lookout for a great deal. Use the opportunity to craft new promotions in order to fill more seats. For instance, consider offering early bird specials to extend the peak dining hours.

Reduce portion size

Restaurants customarily provide diners with large, heaping plates of food, quite a bit of which ends up wasted. Consider reducing portion sizes slightly. If you’re concerned that your diners might be upset about the change, it may be helpful to purchase new, smaller plates and bowls that have a similar appearance as the old ones.

Substitute ingredients

Another option is to swap out certain, pricey ingredients for less expensive ones. Try to do so in a way that doesn’t draw attention. Alternatively, you may want to increase the portion of certain meal components that are less expensive (e.g., breadsticks) while decreasing the portion of the more expensive components (e.g., meats).

Raise prices, carefully

If your profit margins are still less than desirable, you may need to consider raising prices. Price changes are what consumers will notice most, so do so carefully. It may not be wise to raise prices on all menu items. Instead, consider testing an increase on a couple of the most popular items. If diners are already in love with those particular meals, they may be willing to continue ordering them despite the increase.

Manage labor costs with caution

By and large, restaurant employees are some of the hardest workers in our economy. They’re on their feet all day doing a demanding job and dealing with customers who may not always remember to use their manners. It’s crucial to pay restaurant employees well to help them cope with rising inflation. It’s not generally recommended to cut employee wages, as staff turnover can cost a restaurant franchise more money. Instead, consider the following:

Use POS technology to increase efficiency.
Crunch the numbers to decide if hiring delivery drivers is really worth the revenue that delivery orders bring.
Track peak service times for each day of the week to better inform your staff schedule, and make staffing adjustments as needed.

Would outsourcing franchising tasks alleviate your burden?

Pinnacle Franchise Development is comprised of a team with over 40 years of combined experience in the franchise industry. We provide outsourced franchising services to all types of businesses, including companies that are just beginning to explore the franchising process and those that have been established for many years. From franchise lead generation to sales development to marketing, our talented team will elevate your brand and drive you toward greater success. Contact Pinnacle Franchise Development today to request a consultation.

Top Tips for Attracting the Right Franchisees for Your Concept

September 7, 2022/in Franchise Growth/by [email protected]

You’ve poured countless hours into growing your business, and now you’ve built it into a franchise system. Congratulations on preparing to take the next step in your entrepreneurial journey. One of the many hurdles to leap over will be attracting potential candidates who will become your franchisees. It’s important to note, however, that not every aspiring franchisee will be ideally suited to running a business, much less to running your particular franchise. While you’re working on franchise lead generation and marketing, keep in mind the following tips.

Develop your online presence

When aspiring franchisees research potential business opportunities, they do it primarily online. They’ll compare websites, requirements, and processes, looking not only for an opportunity that looks financially sound, but also for one that is transparent and clearly explained. It’s essential to curate your online presence, such as by developing web pages and downloadable materials that clearly articulate what is expected of franchisees and what sort of support they’ll receive from your company.

It’s particularly important to articulate your requirements, such as financial requirements, role of the owner,, or whether they need to be located in a particular territory.

Meet potential leads where they’re at

Although much of the work of researching a franchise opportunity is done online, many potential franchisees do still value the experience of attending industry conferences. Consider setting up a booth at a few conferences to network in person. Remember that flashy giveaways and gimmicks won’t draw in the most dedicated franchisees who are serious about starting a business. Instead, rely on solid presentations chock-full of vital details about your company. Consider signing up to do a workshop or a panel, as well.

Invest in your corporate culture and support resources

There are lots of great franchise opportunities out there, including those with low overhead, reasonable initial investments, and excellent revenue prospects. You’ll need to find a way to set your company apart from the herd in order to attract the right franchisees. One effective way to do that is to focus on improving your corporate culture.

Put yourself into the shoes of a lead. What would you look for in a corporate culture? Chances are, you’ll be interested in one with a mission statement and set of values that resonates with you, as well as a company that is committed to the success of their franchisees. Focus on building strong support systems and resources for your franchisees, which may include back office technology and ongoing training opportunities.

Know when to ask for help

Although you can launch your own marketing campaign to draw in franchisees, you may quickly find that marketing alone takes much of your time, leaving little to spare for other essential steps in the franchising process. Know when to ask for help. Franchise sales outsourcing is an excellent way to tap into the expertise and experience of an established franchise development team, while simultaneously freeing up your own time for other important activities. Look for a franchise development company that has a robust franchise broker network as well as experience in the industry.

Grow your business with Pinnacle Franchise Development

With over 40 years of combined experience in franchising services, the team at Pinnacle Franchise Development is fully equipped to help your brand identify quality franchise candidates . We bring a strong franchise broker network to the table, along with extensive experience in the franchise industry. From start to finish, our team will manage the entire spectrum of the franchise sales process with each potential franchisee, including assistance in strategizing your franchise marketing.

Are you ready to leverage our expertise and network? Contact Pinnacle Franchise Development today to discuss the possibilities.

6 Pitfalls of Growing Your Franchise Too Fast

August 28, 2022/in Franchise Growth/by [email protected]

If your franchise is doing well, it can be easy to shoot for the stars and try to scale up at an accelerated rate. But expanding too quickly can end up causing problems, particularly if you don’t have the right support systems and infrastructure set up. Here are some issues that can occur if you grow your franchise too fast.

You can’t keep up with your finances.

When you establish your franchise business, you’re probably paying close attention to the numbers, watching your cash flow, and understanding your expenses. But when you start to expand quickly, it can be hard to track your spending, costs, and other financials, which may put you in over your head.

Too-heavy focus on sales.

While monitoring your sales and assessing your revenue is essential, if you’re focusing purely on growth, it could mean you’re neglecting other crucial parts of your franchise, such as operations, market analysis, or branding, which are all important to support your brand development. If you aim to expand at a more manageable pace, it can help to ensure alignment with your business model.

Negatively impacting your culture and brand.

Growing too fast without the right processes can impact your franchise culture, which can have a knock-on effect on your brand. The risk is that one negative experience can tarnish your entire franchise network. Establishing the proper onboarding, processes, and systems for your franchise locations can help keep your brand consistent.

Your business operations aren’t working.

The bigger you get, the more organized you need to be to ensure cohesiveness and teamwork based on your core values and principles. If your business operations are out of control, it may be because your growth happened too fast. What worked with just a few franchises may need to be substantially adapted to work for a much larger number.

Issues with quality control.

The standards you set when you first started your franchise business can slip when you expand too quickly. This slip is usually a result of established processes not being updated or because you haven’t had the time to spend with new franchise owners due to your rapid growth. It may be affecting one franchise location or many.

Unhappy customers.

Expanding too quickly can lead to customer complaints if your new staff hasn’t had adequate training, if items are out of stock because you can’t keep up with inventory management, or if the quality of your products has been affected. Each experience not only impacts that store but also impacts the success of current and future franchises.

How to succeed in growing your franchise

While franchise growth is an exciting part of your journey, it requires careful management. It’s essential to get your finances in order and ensure your customer service, operations, branding, marketing, and technology are in place and built to scale.

At Pinnacle Franchise Development, we specialize in helping franchise owners grow their franchises in a way that’s true to their core values and highly scalable. Our franchise sales outsourcing team works closely with our clients and offers a personalized approach. We’ll make sure your franchise is set up correctly for profitable expansion. We also have excellent relationships with franchise sales brokers and potential candidates, so we can help you find the right fit for your franchise.

At Pinnacle, we focus on helping our brands meet their franchise goals and exceed them. Contact Pinnacle Franchise Development today to find out about our franchising services can help grow your business successfully.

Strategies to Diversify Your Franchise Portfolio

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

If you’re an existing franchise owner interested in diversifying your portfolio, understanding what this means and accessing important investment tips is an excellent place to start before you invest in a franchise. Playing to your strengths and using your industry knowledge is also important. However, purchasing a franchise that offers diversification from your current investments or employment is just as crucial. That way, you’re not tied to one particular segment or industry in case there is a downturn in one specific sector.

Buying a franchise also gives you plenty of additional support to help establish your business, such as help with branding, marketing, and advertising. This can make it a wise investment because it is typically easier to get off the ground than to start your own business.

What is diversification?

Diversifying your franchise portfolio means you aren’t relying on one revenue stream or industry to be successful. Instead, a diversified portfolio means owning multiple franchises in various sectors and locations so that you’re appealing to a broad demographic of customers.

A diversified portfolio can also help strengthen your financial position to meet unexpected market or economic changes. It’s often stated that having a diverse financial portfolio helps to take advantage of opportunities and reduce risks. We can say the same about franchise portfolio diversification.
Strategies to consider for diversifying your portfolio
If you’re considering diversification but aren’t sure where to start, the following steps can help:

1 – Establish a franchise portfolio of non-competing brands

Creating a franchise portfolio of brands that don’t compete against one another is an essential strategy. It ensures you’re not competing for the best staff, the best contracts with the same suppliers, or competing in marketing and advertising spending. For example, owning two similar gourmet pizza franchises in the same city means competing for the same customers in the same location. Therefore, it isn’t the best use of your investment dollars.

2 – Look for complementary brands

While you don’t want to compete with your own franchises, there are opportunities in aligned brands. This can be a wise investment choice to leverage your existing knowledge of markets, operations, and target audiences.

For example, if you already own a service franchise, consider another home services franchise that doesn’t directly compete with your existing one. Perhaps it offers a supporting service or need for your customers. You may even wish to consider purchasing a franchise that allows for cross-promotion, such as a lawn care franchise concept and residential cleaning franchise concept where you can promote the new franchise with your current loyal customers. Other examples include building on existing themes, such as adding a fitness concept if you’re already an owner of a health food franchise.

3 – Look for similar operational models

Even across different industries, there can be similarities to look out for in operational models that may make it easier to oversee and manage while maintaining diversification. For example, adding a new franchise with a similar model means you can more easily understand and adapt to new systems. This is especially ‌relevant when considering new technologies that can be implemented across franchises to help streamline operations.

4 – Consider your passions and financial goals

Many people who find long-term success with franchise ownership are passionate about their business, whether it’s the product, service, or company values. So, considering your passions and values can be a respected part of your diversification strategy. Most importantly, though, it’s crucial to assess the numbers. Try to focus on the finances to ensure it’s a sound investment.

5 – Do your research

Hundreds of opportunities are available, so doing your research is vital. Depending on your risk appetite, it’s wise to look for well-established franchises with solid financial performance and a well-respected leadership team.

You may wish to consider reading franchise magazines, talking to other owners, or attending conferences when you’re looking to add a new brand to your portfolio. Also, look at the development of a brand over time and how it has responded to market changes. Monitoring growth can be an insightful way to determine if the brand is likely to remain relevant and continue to grow in future years–regardless of emerging technology or market changes.

6 – Opt for semi or fully absentee franchises

If you already own a single-location franchise, managing it takes time and effort. If you’re the owner-operator, you typically work long hours to ensure it is profitable, so looking for another hands-on franchise isn’t a realistic option. That’s why taking a different approach and considering a semi-absentee franchise for your portfolio is essential.

This type of franchise means you’ll hire a manager to take care of the daily business or look for one that doesn’t require on-site staff. Absentee franchises, such as vending machines, clothing recycling bins, laundromats, or car washes, practically run themselves.

Get the right advice

At Pinnacle Franchise Development, we offer a vast range of franchise brands that service various industries. We believe in the benefits of expansion, which can provide you with steady and predictable returns. Franchise growth is also typically less risky than other asset types. Because most are service-based, which many customers rely on, you’re likely to keep customers even in an economic slump–you’re well protected against market volatility.

If you’re interested in learning more about franchise development or any of our franchising services, contact our experienced team today.

Tips for Franchise Growth

August 14, 2022/in Franchise Growth/by [email protected]

Successful franchise growth results from various factors. First and foremost is partnering with quality franchisees who will implement your proven business model and help spread your brand. Furthermore, make sure to stress customer service. There’s a reason this is the most basic rule of business. Any franchisee offering less-than-stellar customer service reflects poorly on the franchise as a whole.

See below for more time-tested tips from the franchising services team at Pinnacle Franchise Development. Contact us today to see how we can help you build a successful franchise!

Building a strong brand

Successful franchises are those with a strong brand identity in their particular industry. Your customers know they can count on your products or services. Ideally, you want your brand to become synonymous with your product in the mind of the customer demographic. Aim to become the top producer.

Perfecting the business model and operations

The beauty of franchising is that franchisees can take a successful business and operational model and duplicate its results effectively. That’s why your business model requires clarity and a formula that potential franchisees can follow easily. Streamlining is key. The nature of business is that your model must continue improving.

Provide training to ensure franchisee success

It’s vital that you provide in-depth training for the franchisee. Even a turnkey operation requires a thorough understanding of the resources needed. Having a mentorship program helps new franchisees realize that they are part of this larger enterprise and their actions reflect on the brand overall.

Continued marketing efforts

When it comes to franchising, marketing never stops. It’s what franchise growth depends on. The local franchisee must understand that they are part of their small business community and not rely solely on national marketing efforts. The franchisee must have the tools to market successfully based on their unique area and target audience.

Offer existing successful franchisees another location

Those franchisees who have proven themselves usually want to take on another unit. They’ve already made money with one unit, so they are likely to perform do even better with multiple units. Lenders are eager to work with franchisees with a history of success.

Offer incentives, such as discounted franchise fee on another location, to encourage multi-unit purchases. These franchisees already know the ins and outs of running the franchise and require less training.

Hire expert consultants

Franchisors must focus on their business each day to grow the brand and achieve success. One of the best ways to attain those goals is by hiring experts in the franchise growth field who can nurture the prospective franchisee pipeline with strong connections to franchise brokers.

The franchising experts at Pinnacle Franchise Development are here to find and vet prospective qualified franchisees so that owners are free to strengthen their brand and focus on other important business goals. Reach out today to learn more about how our services can benefit your franchise business.

Franchise Recruitment Trends and Strategies

August 7, 2022/in Franchise Growth/by [email protected]

If you’re a franchisor interested in finding out more about franchise recruitment, learning about current trends and strategies can help you recruit the right candidates to help your business succeed.

While having an efficient business model is critical to your success, so is ensuring that you have dedicated, hard-working, and committed franchisees to implement it successfully. If not, your franchise can fail to live up to your established success, and your overall business can suffer. That’s why recruiting the right talent is essential. Let’s consider some strategies and trends that can help.

1 – Work out a profile of your ideal franchisee

Start by building a profile of your ideal candidate. Write down the critical skills or abilities that are necessary for success. For example, are you looking for someone with a specific professional background or experience? Does your franchise benefit from a particular type of personality type? For example, a gym franchise may require someone with experience in health and fitness, while a daycare will benefit from someone with experience with children. An established profile is helpful if you’re dealing with brokers or experts to help uncover the right prospects for your needs.

2 – Develop a franchisee prospectus

Once your ideal franchisee profile is established, we recommend creating an applicant pack to provide to interested candidates. Use it to provide details about your business so candidates can quickly identify if it’s a good match for them.

Doing this will save you time and resources down the road and help qualify your leads. You can include information such as your track record, experience, business model, existing workforce, locations, and financial projections. We also recommend including specific criteria for suitable candidates and available locations.

3 – Look at recruitment as the first step

You’re forming a business relationship with your franchisee that could last years. It’s important to remember that it’s not just a sales process– you’ll need to communicate with them and rely on their efforts to grow your business. Suppose you’re looking for someone with specific experience, such as managers with expertise in your industry. In that case, it’s a good idea to recruit where you know they’re located and to also utilize your existing relationships.

4 – Utilize social media

To reach your desired audience, consider running targeted advertising on social media, such as Facebook or LinkedIn. It’s also helpful to focus on relevant content creation to convey why the brand is profitable, unique, relevant, and sustainable over the long term. Working with an experienced franchise developer to build a marketing strategy and content plan can ensure you get the right tone and approach.

You may also wish to consider offering a sign-on bonus to find the right franchisee for your business. Take the opportunity to explain what your franchise offers, including time commitment, level of business acumen, financial obligation, and culture to ensure quality leads.

5 – Keep an eye on your network

Consider if any existing staff or managers in your organization would make a great franchisee and approach them to discuss it. Next, you can offer financial incentives within your internal networks and communication channels and ask your existing franchisees to make referrals. We recommend consulting with an experienced lawyer to ensure everything is vetted before considering these options.

6 – Build a dedicated franchise website

To attract franchisees, you’ll need different content from your website that promotes your existing business. When building your site, consider the typical questions potential candidates might ask you and respond to these. In addition, you’ll need to provide all the necessary information, such as statistics about your industry, why your offer is unique, the financial investment, and your track record.

Be sure to include contact details and respond to any leads quickly. As part of your franchising marketing strategy, it’s also worth considering search engine optimization to help boost your rankings so more people can find your site.

7 – Attend franchisee conferences

People who attend a franchise conference are genuinely interested in buying. However, their intentions may range from just starting their research or ready to buy. In addition, many competing franchises also attend these events, so invest in a presentation to attract the type of candidate you need. Finally, don’t rely purely on conferences–use multiple channels for your recruitment methods.

8 – Consider offering a franchisee trial

Trials can be a great way of offering candidates an opportunity to learn more about being a franchise owner–allowing them to experience the daily operations and discover if it’s right for them. They can also benefit you—by providing an opportunity to test the candidate’s suitability before signing any paperwork. They can, however, be a drain on resources, so only consider offering trials to those candidates you think are a good fit and are serious about ownership.

9 – Get help to boost your chances of success

If you’re serious about recruiting, getting help from a franchise developer specializing in franchising services can help you ‌free up your time to focus on running your business. At Pinnacle, we work closely with our clients through the whole franchise sales outsourcing process. In addition, our franchise experts can provide direction on branding, presentations, networking, and lead generation.

Contact Pinnacle to learn more

At Pinnacle, our dedicated team immerses themselves in your brand, ensuring we can find you the best candidate for your business. We customize our services and genuinely see ourselves as a part of your team. Our personalized approach to franchise development means we have well-established relationships with an extensive network of franchise brokers, giving us access to vetted prospective franchisees. Contact us today to learn more.

Is Franchising a Good Way to Grow Your Business?

August 1, 2022/in Franchise Growth/by [email protected]

Increasing numbers of business owners are discovering the franchise model as a cost-effective growth strategy. The model’s distinctive structure allows for rapid scaling and market expansion while reducing the burden of raising outside capital

While franchising is a flexible business model employed by companies in diverse industries, it doesn’t suit everyone. If your business has the following qualities and characteristics, then franchising may be your path to future success.

Is your business suitable for franchising?

Here are key factors to consider when determining if franchising is right for your business:

Credibility

Does your venture have a proven business model and successful track record of profitability? Do you have a strong social media and community presence?

Marketability

Does your business offer unique products or services that are differentiated from competitors? Does it have a distinct identity or brand? If your business has a strong and marketable brand, it will appeal to those interested in investing in a franchise.

Business Model Can Be Replicated

Are there documented protocols and procedures in place that will allow your company to be easily replicated in other locations? Could a franchisee learn to run your business within a three-month time frame? If you can transfer your knowledge, procedures, and processes, then franchising might be a viable growth strategy.

Tailored Franchising Services

Developing a successful franchise requires diligent planning and sound guidance. Pinnacle Franchise Development provides a wide range of franchising services to support your business expansion goals.

Leveraging over four decades of collective industry expertise, our skilled team has extensive experience in all areas of franchise brand evaluation, development, marketing, sales, and execution.

We are well-versed in the potential pitfalls that new franchise owners face – and the many accomplishments that await. Pinnacle helps you develop the necessary infrastructure to transition from a thriving small business owner to a lucrative franchisor. After a thorough evaluation of you and your business, our development team will produce marketing materials that strengthen your company’s brand from a franchise sales perspective.

Pinnacle ensures your marketing materials are on-point and send the right message to attract potential brokers and suitable franchisees.

We have established relationships with broker groups that hold regular conferences, webinars, and events that serve as excellent platforms to promote your franchise.

Marketing and sales are integral to attracting new franchise owners. We may suggest franchise sales outsourcing to more efficiently bring your franchise to market.

Experienced Guidance & Support

There are many benefits to franchising your business, from access to motivated partners to increased revenue and profits. If you are interested in growing your operations as a franchisor and want trusted advice from industry experts, Contact Pinnacle Franchise Development for more information.

Tips to Increase Franchise Leads

July 28, 2022/in Franchise Growth/by [email protected]

Franchise leads are an integral part of franchise development. Without leads, you can’t sell franchises. However, there’s no one-size-fits-all approach to lead generation. Instead, a holistic approach is most effective. Constant tracking of results is essential. That’s where the team at Pinnacle Franchise Development can help.

Who Are Your Target Prospects?

Get started by defining your target prospects. You can’t create a franchise marketing strategy without knowing who your potential franchisees are. Ad dollars require specific targeting to reach the clients you need. Once you know the demographic you seek, the appropriate lead generation strategies take shape.

Lead Generation Strategies

Here are the major franchise lead generation strategies:

Website

Consider setting up a recruitment website separate from your current website. Just adding a page on your consumer site relating to franchising may not be sufficient. Your recruitment website should let candidates know immediately if your brand is right for them. Not only must this site prove intuitive to use and easy to navigate, but it should contain all the information a potential franchisee will need.

Make it simple and straightforward for potential leads to contact you. Place contact information on every page, and go beyond the standard name, email, and phone number particulars for buyers. Include questions about why the potential buyer is interested in your franchise and whether they have franchise experience. All of this relevant information is added to your database to aid in better franchise lead marketing.

Blogs

Content is king when it comes to marketing, and good blog content attracts and converts leads. The emphasis is on good – this is not an area where you should skimp and settle for less-than-stellar writing. Your content focuses on informing prospects what they need to know about becoming a franchisee. Targeted keywords in the content via Search Engine Optimization (SEO) play a huge role in sending search traffic your way.

Social Media Marketing

While Facebook and Twitter are excellent sites to engage investors, you’re in an even better position when you purchase paid ads that go directly into a potential buyer’s newsfeed. Social media is a great way to showcase franchisees’ success stories!

Email Marketing

Old-fashioned email marketing has an advantage over other lead generation strategies in that consumers trust it more than other methods. Drip email campaigns go out regularly to potential buyers, detailing the advantages of buying your franchise.

Work With a Franchise Development Team

When it comes to generating leads, franchise owners should work with an expert franchise development team that can generate the right marketing strategy for your business. Franchise sales outsourcing with Pinnacle gives you access to our network of franchise brokers who have valuable relationships with vetted prospective franchisees. We develop a strategy for emerging brands, and for established franchises, we can help tweak and optimize the strategy already in place.

Contact Us

For more information about increasing franchise leads, contact the franchise experts at Pinnacle Franchise Development. Our team has a combined 28 years of experience in the field. Find out how our franchising services can benefit your business.