I’m going to share with you what happened to me when I first got into franchise development. I was a master franchisee, as many of you know. I want to share with you some of the key factors that helped me go from almost zero in sales to a 600% increase in my year over year, first year to second year.
My experience was really critical to understand, having gone from year one to year two with a 600% increase. So here are the key factors that I’m going to share. I did not get training specifically on franchise development, so I’m going to discuss with you a little bit what happened to me, and training is one of the key things. One of the real key factors here is being coached. I’m going to share the type of coaching that’s important, and the type of person who wants to coach you if you’re in franchise development of any sort.
The third piece is documenting the process, the things that work, and putting them in writing. So I had it documented, I could always go to it, I could use it to teach somebody else down the line. So those are the three things I’m going to discuss: Franchise Training, Franchise Coaching, and Documenting what’s working.
So I went through the school of hard knocks and learnt the fundamentals of selling franchises. I’ll tell you, there was definitely some trial and error involved. I therefore recommend you go out on your own, get some core training or some add-on training that will be extremely specific to your base of knowledge rather than waiting a year, 15 or even 18 months. So, training is key. I made all the mistakes that you could make, I gave out too much information too quickly. I didn’t follow up on a regular basis. Now I know the importance of jumping on a lead or a referral and getting a hold of them in the first 72 hours.
I would phone, leave a message, and then wait a few days in the hope that they would get back to me. You must capture them by extending your hand towards them. So, that was yet another error I committed. Check-in calls are only a way for me to check in with my prospects without truly adding any value to their lives. How are you doing? Ready to make a purchase? You know, they’re going to check. That is a mistake in itself. I had to essentially study the fundamentals and principles of franchise development and selling.
That is the main focus of my franchise sales acceleration training. You are learning the kinds of things you absolutely must be doing. It’s either a continuation of training you really need. Franchise sales accelerator is the program, to reiterate. Now that I did have that foundation of knowledge, I was fortunate to locate someone who knew what to do. I had a full pipeline of prospects, and I wasn’t treating them properly, either. As a result, my lead generation was increasing, but I wasn’t bringing them to the altar. I wasn’t influencing them to say yes. So, in This individual, who I refer to as today, coached me. Situational sales coaching is what I call it.
He would ask me questions like, “What are they saying?” or he would look at prospects with me to see where they were in the process and say, “Well, this is what’s going on.” What are they doing? What was the last thing you discussed with him? And he would tell me what to do next. He would advise me on how ro approach that specific possibility in order to influence them to say yes. So, situational sales coaching on top of getting trained as opposed to trial and error. Situational coaching is the next thing that helped me achieve a 600% increase in my sales year over year one to year two.
Documenting everything I did was the last thing I wanted to discuss because there were occasions when I kept running into the same scenario. I wanted to make sure that I had it scripted and that I had it in writing. Since 80% of what you do will be nearly identical from prospect to prospect, I decided to document how to address recurring scenarios. Therefore, you will be a lot more productive with each prospect you have in your pipeline if you can learn what truly, really works. Documenting this by writing it down and creating a repository for all of your processes and scripts will be a huge undertaking. And one more, this is the component of the Franchise Building Expert franchise sales accelerator course that we provide here.
Again, franchise sales training is important. If you haven’t received any kind of training, you should seek out continuing education. However, you should also apply some of the lessons you may have learned in the past. Please avoid learning by trial and error; it could take you 15 to 18 months or even two years before you’re successful. Instead, seek out quality training and coaching in situational sales.
Get some guidance, assistance and don’t just hire a coach; hire someone who has sold franchises successfully, get some advice from someone in the franchise industry. Get them to be your coach since they will assist you in setting up the appropriate procedure and will inform you of the strategies that will work candidate by candidate in your pipeline. They will support your success and increase the number of deals you close.
Finally, keep track of what’s working when you start to make sales and become aware of the various ways you’re resolving the recurring issues. Put this information on paper because you never know when you might want to hire some additional staff and need to train them on how to operate the firm. Therefore, if you don’t record it as it happens, you’ll forget what works.
If you don’t record it while it’s happening and you realize that these things are successful, they won’t be able to support your success. It will never be easy for you to coach someone else. So get general training on the franchise development basics, so you can start closing agreements, and coaching, so you can start making money more quickly. Finally, make sure to write down all your scripts and processes so that you can manage any eventualities that may arise.