It is a wonderful aspect of the franchise industry that people learn about the existence of an opportunity and then contact the franchisor wanting to learn more information about the possibility of becoming a franchisee. The stronger a brand becomes the more of these types of inquiries the franchisor typically receives.
Are you spending too much time responding to franchisee prospects that are simply not qualified?
One of the challenges every franchise company faces in today’s market is that the overwhelming majority of inquiries they receive are simply not qualified to become new franchisees with the company. The reasons for this may be related to a prospective franchisee’s financial resources, skills, experience, licenses, location or temperament.
Due to this reality, the franchise company is put into an awkward position where they have to decide the level of resources they want to invest in responding to these many initial inquiries in order to find the very few qualified prospects in this scenario. This dilemma can potentially cause issues for the franchisor in one of three ways.