8 Ways To Connect With Potential Franchisees

Finding the right franchisee for your business can be an arduous task. A franchisee is someone who is going to be responsible for maintaining your brand and ensuring the quality your customers expect is extended to their franchise location too. This means you need to find the right person to meet these standards.

At Eden Exchange, we have worked with franchisors from across industries, including QSR franchises and professional cleaning services. In our time, we’ve learned a lot about finding franchisees and cultivating the right people for the job. We've put together list of our top tips for connecting with potential franchisees based on our years in the field!

#1 Having an Online Presence

You’re probably used to hearing about how important an online presence is, and whether it be a social media presence or an optimised website, being visible online is key to finding potential franchisees.

If franchisees can find you, then you’re already one step ahead of the game. Potential franchisees may take to social media to find franchises they want to join, or they might search for franchises using search enginges like Google or Bing. For either search method, you will be findable if you’ve got a properly optimised social media profile and website.

On top of the benefits of being findable, you can also use your online presence to engage with potential franchisees. Social media, in particular, is a great way to begin a dialogue with potential leads. Make sure that any new leads can find all the information that they need on both your website and your social media to ensure they remain engaged and interested.

#2 Informational Masterclasses

In the world of remote working and the hybrid workweek, masterclasses have exploded across industries, and a webinar is a fantastic way for a franchisor to engage with potential franchisees. To begin with, it's accessible to people based literally anywhere in the world. 

This means that if you’re looking to open franchises across the country, or even in another country, you can still engage with potential leads without visiting these locations. An informational masterclass is also a great way to communicate the benefits of becoming a franchisee as well as the expectations you might have for them.

#3 Attending Franchise Expos and Events

Franchise expos are a great way to meet potential franchisees who are actively looking to work for you. You can identify the franchise expos where your business would fit, meaning the potential franchisees you meet are looking at your industry particularly.

On top of finding potential franchisees, their expos are perfect for networking among fellow franchisors. This could open you up to more leads in the future. Make sure to prepare and present your franchise as best as possible when taking it to an expo.

#4 Working with Existing Franchisees

You can utilise your current franchisees to find more in a few ways. These include:

• Testimonials and success stories: Testimonials from your current franchisees and success stories that show the progress and fortune your franchisees have had are great ways to advertise to potential new franchisees.
• Referrals: You could also create a referral system, where current franchisees refer new franchisees and are rewarded when you take them on. This ensures you keep current franchisees happy and that you can find new franchisees when you need them.

#5 Using the Power of Professional Associations

There are many industry-specific professional associations out there for franchisors. By being part of them, not only do you network with others in your industry and stay abreast of opportunities and changes, but you will also have the opportunity to participate in events and engage with franchise consultants.

The power of a professional association can be incredible for franchisors looking to expand and shouldn’t be underutilised. Instead, you should take full advantage of all that it can give you, including access to new franchisees!

#6 Hosting Discovery Days

Discovery days are useful for local franchisees. If you’re looking to expand in particular areas, then holding in-person events means getting the chance to meet potential franchisees in person. While webinars can be great for reaching a wide audience, particularly in terms of geography, meeting potential franchisees in person can help you to really get a feel for who they are as a person.

While you can get to know someone on paper, meeting them in person is often preferable. It makes it easier to see how a potential franchisee interacts with others and how they might fit into your franchise’s overall image.

Discovery days lend themselves well to engaging with potential franchisees who are actively interested in your franchise and sector. This means you’ve got more chance of finding a franchisee who has the skills necessary for your franchise and who has an interest in your brand in particular.

#7 Targeted Advertising

Targeted advertising is a fantastic way to reach potential franchisees who are looking for opportunities but might not have heard of you yet. These ads will find searchers or social media users who are following similar brands to you and searching for opportunities like yours.

You can launch targeted ads based on a wide variety of characteristics, including location and other specific demographics. You can cultivate the ad to find the exact kind of person you want as a franchisee. Use your franchisee persona to ensure the ads are targeted correctly.

#8 Using a Dedicated Platform

In the digital age, there are now dedicated platforms that can help you find potential franchisees, including Eden Exchange.

Eden Exchange is an innovative platform for business buying and selling, and we have a whole area dedicated to helping franchisors find the perfect franchisee. We’ve spent years in the business, and together with our team, we can help you find exactly who you’re looking for.

The DealXchange platform ensures you find qualified leads with the skills you need. The targeted algorithm ensures you find the best matches for your franchise and we have a whole range of packages depending on what you’re needs are.

When you’ve found the right person, the platform even ensures secure document sharing to streamline the entire deal. Find out more about the DealXchange platform today.

Final Thoughts

If you’re looking to connect with potential new franchisees, there are many ways to successfully do so. They range from online webinars and social media ads to in-person events, meaning you can find the right match, no matter your resources.

Eden Exchange has years of experience matching franchisors with the right franchisees for their business, and we can help you too. Get in contact with the team at Eden Exchange now to find out more about our DealXchange platform and what it can do for you.

Who we are

Eden Exchange is an integrated multi-channel platform, simplifying business buying and selling. We match, refer and connect business buyers, sellers & brokers in an ecosystem that facilitates frictionless franchise, business and finance transactions. Visit www.EdenExchange.com and connect with our engaged and multidimensional transaction network today.