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Five Ways to Increase Franchise Unit Sales

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Franchisors and franchisees should continue to find ways to increase sales. Here are some tips on how franchise unit sales can be increased.

1. Learn from your competitors.

Know your competitors strengths and weaknesses. In this context competitor is used in the broadest sense. It can mean a business that is not a direct competitor but competes with you for customerís dollars. If you know your competitors youíll be in the position of tweaking your current products or introducing a new one that can capture more sales. We sometimes get so wrapped up in our day to day challenges that we neglect to see what our competitors are doing.

2. Learn from your franchisees.

Establish a group of your top franchisees to help evaluate and consider various ways to increase sales. A small working group of franchisees can bring their local knowledge to the session. The group should be small but representative and include those franchisees with a proven list of accomplishments.

3. Review your current franchise program

Take the time to analyze and review your existing franchise program. This includes products, pricing and promotions. This doesnít have to be a long drawn out process but rather an objective review of the program. If itís functioning well then there is no need to make changes.

4. Consider special promotions and marketing programs

Based upon what youíve learned from items 1-4 design some ways to send a message to your customers. A promotion can include some credits or incentivizes to obtain a buy in from your franchisees. Here are some examples of how this can be done.

5. Test and measure your programs and adjust if necessary

Before rolling out a new product or service test the results in a pilot study using several franchise locations. If youíre using a promotion donít be reluctant to make changes if needed.

There are several ways that franchisors can increase unit franchise sales. Follow these tips and if needed implement changes.

© 2011 FranchiseKnowHow, LLC

Ed Teixeira is the President of FranchiseKnowHow, LLC. He can be reached at franchiseknowhow@gmail.com

 

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