7 Tips to Make Your Franchise Appealing to Prospective Franchisees 

Many franchise opportunities become available daily, and franchising as a method of brand expansion is only increasing in popularity. You should consider several aspects to make your franchise opportunities stand out and attract your ideal franchisees. This article will explain several tips for franchisors who want to appeal to prospective franchisees. 

1. Be Truthful 

Every franchisor looking to expand their business will want to make their franchise opportunities sound lucrative and appealing. However, franchisors can face legal trouble if they oversell franchise opportunities by making untrue or exaggerated claims.

To avoid misrepresentation, be truthful when making statements about your franchise business. By ensuring you are truthful, you are more likely to attract quality franchisees aligned with your brand’s vision and goals. 

2. Have a Proven Business Model With a Track Record of Success

Having a successful business is far easier said than done. However, prospective franchisees want to invest in opportunities likely to generate substantial profit, making their time and investment worthwhile. They will look at your business’ history to judge whether there is potential for success and assess whether your business model has a proven track record of success. Demonstrating your brand’s successful history can help you attract franchisees. 

Remember that truthfulness is vital; do not exaggerate success. If you do not yet have an established business model or a track record of success, it is likely not the right time to franchise your business. 

3. Establish Your Brand

More established brands will attract more potential franchisees than those that are less established. A good level of brand recognition provides a solid foundation for a new business. To establish your brand, think about the following:

• appropriate marketing; 
• brand image and reputation building; and 
• curating identifiable branding (and protecting your brand’s intellectual property rights).

4. Advertise Franchise Opportunities Appropriately

You must consider how and where you advertise your franchise opportunities to reach the right audience. The most appropriate advertising location and formats can depend on:

• your brand’s industry; and 
• the type of people you seek. 

You should tailor your advertising to the type of individuals you want to attract. 

5. Communicate With Existing Franchisees 

Prospective franchisees should conduct due diligence when considering a franchise opportunity. Before signing the franchise agreement, they will assess the opportunity and your brand to decide whether their investment would be well-placed. 

Prospective franchisees may talk to any of your existing franchisees when they conduct their due diligence. This way, they can determine whether the opportunity is right for them. You could also be proactive and enable potential franchisees to meet with an existing franchisee. 

As essential as it is to draw attention to your franchise opportunity when building your network, it is also crucial to ensure that you onboard the right people. Allowing potential candidates to speak to existing franchisees will enable them to make a well-informed decision about joining. 

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6. Provide Good Support 

Franchisors must train and support their franchisees. Training and support provisions vary across franchise businesses. To make your opportunities stand out, you should offer a robust initial training program for new starters. Additionally, you should provide solid support mechanisms for the duration of the franchise agreement. 

7. Be a Member of a Franchise Association 

There are several franchise associations available for franchisors to join. Franchise associations are organisations that support both franchisors and franchisees. They offer events and training and set professional standards. 

Franchise association membership can indicate to potential franchisees that you are a reputable franchisor. In the UK, franchise associations include:

• the British Franchise Association (BFA);
• the Approved Franchise Association (AFA); and 
• the Quality Franchise Association (QFA). 

BFA membership, for example, shows that your franchise network adheres to franchising best practices and professional standards.

Key Takeaways 

This article has explained tips for franchisors and prospective franchisors for attracting prospective franchisees. The following table outlines each tip discussed. 

If you require legal advice whilst establishing or expanding your franchise business, our experienced franchise lawyers can assist as part of our LegalVision membership. For a low monthly fee, you will have unlimited access to lawyers to answer your questions and draft and review your documents. Call us today on 0808 196 8584 or visit our membership page.