I’m often requested by franchisors and brokers to share some insights on how to close more applicants. Being someone who has spoken with franchisees from all over the world and who had an average of closing rate of 80 I have a clue and a few things about closing.
It is my opinion that you should concentrate on three areas if you wish to make more sales from franchises.
1. Mindset Yours and the potential customers…
Be aware immediately that the mindset you choose is vital! Your mindset determines your outlook and can influence your choices and actions you make. The most prominent examples of this are my coaches all over the world. Some coaches charge about $1000 per month,, whereas others charge as high as $5k per month. They offer the same services and achieve similar results and even have similar population. The distinction is that one group has a different view of the value of the services they provide. One earns $15,000 per month, and the other earns close to 100,000 dollars per month. Big difference if you ask me.
2. Positioning – You need to place everything…
It is essential to must to place everything! But if you’re not certain where to begin I’ve listed five important areas I believe are most crucial to place. Then, you can make adjustments from there.
* Introduce yourself – Who you are, how you’re professional, and you are confident about the process. Brokers are the ones that prospective clients consider to be the leaders in their lives and must you step up to help them navigate the process.
* Position the process Anyone who you meet will need to be aware of what the process like. There is no need to go deep into the details or spend 30 minutes explaining this. It’s enough to describe it in order for them to are aware of what to be expecting.
* Place YOUR TIME in the right place – My time is priceless and worth $500+ per hour. I do not want to spend it with people who don’t have a serious attitude. I prefer to consider my time as inventory with a shelf that is constantly replenished for life. In the course of each day, I’m left with 8 hours of work which will run out no matter how I spend them. I must use the time prudently.
The position is called Position A. Investment – We are all aware that buying businesses costs money. What we have to be able to do is get over the fear of discussing the amount of money invested. At a minimum, you should know the amount they’re willing to invest and if it’s worthy of your attention.
* Position They will make A Decision – In one way or another either way, we’ll make a decision. In actuality there are a lot of choices to make when purchasing franchises. Your job as an agent is to help them to make these tiny decisions that will ultimately will result in an offer!
3. Controlling the situation in all times…
A single method to do this is to work on their mental state and arranging everything along the direction. Also, be prepared to move anyone at any time during the process. To be able to do this, you must become an expert in listening to your potential client and asking the right questions. I personally prefer to keep control by setting homework deadlines for every task. Therefore, if I instruct you to complete an application, I’ll need an assurance from you that you’ll complete it and inform you that I’ll be in touch with you. Furthermore I hold people accountable for what they’ll take care of. You must step up and declare, “You said you would be done by 3:00. That’s the reason I’m calling you. Are you sure?” If not, you are welcome to find out why. I will give you a second chance. I reconsider how important my time is. I simply inquire if this is significant to them? The most important thing in this scenario is that I’m not in any way scared to quit. I’m