Are you practical and thoughtful about every variable in your fran dev process? If so, that's the only way digital marketing results and success will come. This article helps you better forecast sales and visualize metrics to track your goal accordingly, and ultimately award more franchises.
Sure, people buy people first. Franchise development is fundamentally a relationship business. But don't overlook the fact that math is king. You need to assure your team is making financial decisions practically and thoughtfully.
Every variable needs to be accounted for: Franchise fee, initial term, royalty, average unit revenue, renewal fee, unit renewal rate, and so on. This way, plugging in the right metrics will help your franchise brand plan for success in your marketing and sales investments. We'll look at an example below.
If you work in franchise development, you need to estimate potential market reach, given your brand's specific filters. Now, FranchiseHelp is the most robust lead generator in the franchise industry. But we will tell you that even the best lead generator can only get so many interested leads for a given brand (we’re a lead generator, not a lead manufacturer).
Whether you’re an emerging franchise exploring your potential reach for the first time, or an existing FranchiseHelp client wondering how much farther you could push your advertising efforts, we suggest that you use the Lead Gen Reach Calculator to see how your filters affect the potential for lead generation for your brand.
This one metric will help you be practical and thoughtful about every variable in your fran dev process. Make sure you're using this tool to forecast sales and visualize metrics to track your goal accordingly, so your brand can ultimately award more franchises.
FranchiseHelp is woven into the Fabric of Franchising™ and we'd love to talk to you about getting the branded leads you need.