Five Ways To Fast-Track Sales For Your Franchise Start-Up
by Ed Teixeira
I’ve seen it time and time again. A new franchisee full of energy and ready to go has a delay in the launch of their new franchise and opens up later than planned. Although the delays were caused by a various factors the damage was done. Sales are slow to come and limited franchisee working capital can be exhausted ahead of schedule. Franchisors want their franchisees to get a fast start. It benefits both parties.
The first 90 days are critical. Franchisees that get off to a fast start
increase their probability for success and faster sales growth. Here are
five tips for getting your new franchise off to a fast start.
1. Start Marketing Before you Open for Business
Whether your franchise is in food or business services you can start to market your business before your official opening. Request some literature from your franchisor or develop your own with the franchisor approval. If your business is in food you can contact local businesses and organizations to pre-sell the benefits and features of the new business. Regardless of the type of business, you can identify your target market and do some pre-marketing. If its business services join a local organization or trade group so you become known to the members before starting.
2. Have your Location Pre-Selected
If you’re operating from a fixed location start your search for your location in advance of signing the franchise agreement. If you’re moving along in the franchise process there is no reason why you can’t start looking for a location. With few exceptions a real estate broker will start looking for locations without it costing you any money. Work with your franchisor and try to get pre-approved so you’re ready to go once the franchise agreement is signed. Line up your contacts for equipment and leasehold improvements.
3. Recruit your Franchise Staff in Advance
Unless you’re operating a one person franchise you’ll need some employees to operate your franchise. Start your recruiting efforts in advance so that you can remain on schedule. By recruiting earlier in the process you’ll learn how difficult it will be to find staff and what the labor costs are like.
4. Have your Vendors Ready to Go
The franchisor should have a list of recommended or approved vendors for its franchisees. In some cases you may need to use a combination of vendors you find and those provided by the franchisor and other franchisees. Don’t wait a week or so before you plan on opening to make arrangements with your vendors.
5. Be Sure your Franchisor Follows Through
You should be able to rely upon your new franchisor to assist you with fast-tracking your start-up. Although there are some activities you may not be able to perform until you’re a franchisee, the ones I’ve indicated shouldn’t be problem. Keep in mind
that before your franchisor devotes some time to your pre-planning they must feel you are likely to sign the franchise agreement. Otherwise you’ll be on your own. Finally, if you’re not getting the assistance or cooperation you need from the franchisor it could be a signal of things to come.
When it comes to starting up a new franchise operation, time is of the essence. The longer you wait to get your franchise started the more challenging the task. There will always be unanticipated occurrences when starting up a new business and with proper pre-planning you’ll minimize the impact from these unplanned events.
© 2015 FranchiseKnowHow, LLC
Ed Teixeira is the President of FranchiseKnowHow.com and Chief Operating
Officer, FranchiseGrade.com. He is a former
franchise executive and franchisee. He can be contacted at 631-246-5782 or