Many franchisors spend a good deal of money collecting leads from franchise portal websites, franchise directories and their own online Internet page. Unfortunately, they have an uphill battle going through all these leads to financially qualify these potential franchise buyers. Then they spend too much time talking with possible franchisees that are not really all that interested. Oh sure, they might buy a franchise just not their particular franchise business opportunity.
As a former franchisor, I can tell you that it takes a lot of time to go through 100s of leads per week, calling people, answering questions of people who are just looky Lou's. Yes, you have to answer the questions, but it also makes sense to send out a brochure which has all those questions pre-answered or post on the website the most Frequently Asked Questions. Additionally, I always recommend that the Franchisor not embellish the opportunity, benefits or make it sound like it's a walk in the park.
The more upfront a franchising company is about the costs, start-up capital needed and financing, the better, it helps people weed themselves out if they cannot financially qualify. The more upfront information given the fewer the number of leads, but the more serious franchise buyers there will be, now some see this as a catch-22; not me.
After all, if our franchised company had only 12 leads each month but ten of them became quality franchisees capable of representing our stellar brand, then I'd be the happiest person on the planet. Think on this, before going for maximum leads.
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