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Questions Frequently Asked by Franchisors

 

I need to advertise, but how do I protect my trade secrets at the same time?

I'm ready to franchise my business, but don't know where to start. Can you help? (Pending)

What level of enquiries can I expect from listing with Biz.for.Sale? (Pending)

What degree of detail should I provide when submitting my listing?

If I get several enquiries a day, how would I handle them? (Pending)

I developed my franchise and now want to find master country franchisors outside of South Africa. How do I do this? (Pending)

How do I go about making changes to my listing?

On my Trial Listing, you have left out my website address! Why?

I already have my own website, so why would I need to be listed here?

As a Trialist, I got well over 10 leads a month. But now I'm a full subscriber that seems to have dropped. Why?

I need a list of all the enquiries I've had to check we've followed up and assess conversions. Can you send one to me? (Pending)

Are there any particularly good examples of well laid out listings that I can look at to get ideas?

 

I need to advertise, but how do I protect my trade secrets at the same time?

This is a standard dilemma faced by anyone marketing a franchise which, in it's explanation, may give competitors the seed of an idea to get going with an opposition operation. The trick is to explain enough about the franchise in the listing without giving any specific secrets away. Often this can be done by talking about the benefits to the franchisee of operating one of these franchises. At this early stage of enquiry that's the subject that most interests the potential buyer of your franchise.

The "Reply Pack Email" that you prepare for the franchisee can consist largely of information on earnings and a "Non-Disclosure Agreement" which they must sign and return before you part with more information. If they are not prepared to, then this is hardly a serious enquiry in the first place. It also heightens the sense of mystery and reinforces the idea that you do hold trade secrets to a high earning franchise idea.

I'm ready to franchise my business, but don't know where to start. Can you help?

What level of enquiries can I expect from listing with Biz.for.Sale?

What degree of detail should I provide when submitting my listing?

The short answer is .... as much as possible! Our experience is that the more information that is tendered, the more the prospective franchisee feels comfortable with the franchisor. There needs to be a feeling of full disclosure and the opinion forming with the franchisee that the franchisor is open, communicative and supportive. This assessment will always be made and what seems like a shortage of information will often be interpreted negatively by the person viewing the ad.

Try to address the issues that the franchisee will be concerned about:

  • What skills do I need?
  • What training and launch assistance is offered?
  • What lifestyle is offered here?
  • How much unencumbered cash will I need until the cashflows are positive?
  • Will this franchisor be supportive, and in what manner?
  • What's the history of the brand in the market?
  • What's planned and expected for the brand in the years ahead?
Feel free to supply pictures, logos and diagrams where they will be helpful and will assist in the objective of encouraging the person viewing the listing to make a formal enquiry with you. There is no charge from us for laying out a complex listing as opposed to a simple listing so do take advantage of that fact. Some of the smaller operations even use this listing as their only web presence.!

If I get several enquiries a day, how would I handle them?

I developed my franchise and now want to find master country franchisors outside of South Africa. How do I do this?

How do I go about making changes to my listing?

Just email us the details. There is a full set of instructions on the page: Amending an Existing Listing

On my Trial listing, you've left out my website address !

The whole purpose of the trial listing is to enable you to assess the frequency and quality of the leads that we generate for you. If we were to publish your contact details during this period then people are inclined to pick up a phone and call. You don't know they came from us, the value of our service is underestimated, and perhaps you then decide against a good promotion opportunity. By forcing trialist enquiries through the email form for making contact you know exactly where the lead originated from.

Did you know that you can call up the following URL anytime:
    http://www.bizforsale.co.za/cgi-bin/SendFran.asp?Identity=xxx
( where xxx is your ID Ref No ) and the system will mail you a comprehensive list of all enquiries that have been filled on the website. You can then call for copies of original enquiries where needed.

I already have a website, why would I need to be listed here ?

The Biz.for.Sale website has between 500 to 800 unique visitors on any given day. These are focussed individuals looking to assess the different franchises on offer. If your product is of interest, then we've made it easy for them to contact you. We've generated the lead and it's then up to you. Your competitors are probably listed and, in your absence, you may not get the opportunity to present your franchise to the potential franchisee.

So, in a nutshell, we generate leads and are certainly not in competition to you. If you are a subscribed member then your website address would be listed and we would normally be diverting traffic to your website. Which leads to the next question.....

As a trialist, I got well over 10 leads a month. But as a subscriber that seems to have dropped. Why.?

This is a common perception, but with investigation we find it to be unsubstantiated.

Because trialist listings do not publish direct contact details, prospective franchisees can only contact you via our email forms. You then know exactly from where they have come. But once you subscribe then all your details are published. that makes you more accessible and the "instant gratification" types lunge for the phone. Unless you are grilling all phone ins and enquiries from your website, you wouldn't know the Biz.for.Sale origin. We do have an auto-reponder which will mail you a full listing of people who fill in forms, but we can't track someone who telephones you.

There is no doubt that your enquiry level will increase as a subscriber as your exposure on the site is dramatically elevated, but you need to check proactively on your side to determine the source of your leads. And your website hosting provider should be able to supply you with access stats which should identify click-through stats from our site as "referrers". We can track click-throughs and give you info on that but we obviously don't know who the visitors were.

I need a list of all the enquiries I've had to check we've followed up and assess conversions. Can you send one to me?

Are there any particularly good examples of well laid out listings that I can look at to get ideas?

Yes, different listings use different methodologies, some of which are excellent examples. You can see.......

Franki Bananaz
Makes excellent use of good atmosphere pics to convey a vibey and funky concept and a fun lifestyle for the operator.

Technovideo
Repeats a complex logo that needs magnification as the mini logo cannot show this detail. This has also been done for LawnPro The Technovideo listing also shows a typical storefront and, most importantly, a pic of the machine that dispenses the goods.

The Courier Guy
A pure services company which, to make the conversion from browser to enquiry, uses pics to convey a sense of friendly and efficient service, backed up with a comprehensive and modern looking fleet of vehicles in a pristine depot location. This listing also uses a "strike-out" method of showing the available and sold areas available to prospective franchisees.


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