Are you looking to sell your franchise? Unfortunately, many business owners don’t realize the importance of marketing their businesses, including their franchises. However, suppose you want to make sure that your franchise sells as quickly and profitably as possible. In that case, these five tips will help you get a lot of franchisees quickly while still attracting top-quality buyers who are most likely to keep your business running strong and growing in the future.
1) Exhibit at a franchise expo
It can be challenging to get attention if you’re trying to sell a franchise that hasn’t been sold before. However, franchise expos are a great way to network with prospective franchisees and other owners who have experience running and marketing their franchises. Expo attendees also tend to be more serious about buying than people who come across ads online or in print media—they’re usually looking at multiple opportunities and have done some research ahead of time. So if you want a quick way of filtering out someone who isn’t serious about buying your franchise for sale, an expo is a good place to start.
2) Google ads
Google ads (or, more generically, PPC) can be a great way to market your franchise business for sale. For example, if you’re selling a food franchise and want to direct people toward buying a food franchise to your website, buying Google ads might make sense. However, PPC can be expensive—if people aren’t interested in your franchise, it won’t take long before you spend all of your marketing budgets without seeing any return on investment.
3) Facebook ads
Facebook ads are a great option if you have a defined target audience. The key is keeping up with what works best. For example, a few years ago, Facebook Ads were all about creating dark posts (ads that only people interested in that ad would see). Today, it’s all about how you can use Lookalike Audiences and Custom Audiences to target better people that want what you have. In short, try different campaigns and make sure to track ROI using Google Analytics or whatever tracking tool your business uses.
4) Advertising at a franchise directory
For many franchisors, using online franchise directories is a good place to start, such as franchise-uk.co.uk. Like other types of classified advertising, there are small and large fee-based options. Most franchise businesses using these directories report positive experiences. If you choose a franchise directory, check it out carefully by reading independent reviews before paying any membership fees. Also, note that these listings usually require you to provide basic information about your business (typically including an address) so prospective buyers can contact you directly. Also another thing to monitor before advertising with an online franchise directory is their online presence and audience. For example, how many monthly visitors do they get? This is all very important information you should request before signing up.
5) Banner ads on relevant websites
Running banner ads on other sites is a great way to get your brand in front of potential franchisees. You can also look into advertising through Google’s network or LinkedIn. You may also consider placing flyers or custom prints around to grow your brand’s recognition locally. Also, don’t forget about providing services—many entrepreneurs have found that offering free samples or test drives is a great way to drum up interest in their business. For example, do you have a fast-food franchise? Why not offer a free burger to promote the business locally? It will provide you with more gain, such as positive PR, than what it costs for the ingredients. No matter what you choose, don’t be afraid to experiment with different forms of marketing; after all, finding success means being creative!
We hope this has helped.
Promoting your franchise opportunity is key to getting people to contact you who are interested in buying your franchise. Creating a solid marketing plan can be time-consuming and daunting, but it’s well worth it when you see that flood of aspiring franchisees interested in your business opportunity. Remember, you can never stop promoting, so once you’ve put together a solid strategy, stick with it and continually refine it as needed.