There are two important things to truly know and understand to be a successful franchisee.
First, you must know your customer and their specific needs very well. For example, in the home improvement sector you might ask — What are they trying to achieve? What is the style of their home and trends in the neighborhood? Are they more interested in cost savings, or are they focused on lasting beauty and low maintenance? When you understand your customers you can better tailor your sales pitch to their specific needs, greatly improving your closing rates.
Second, you must fully understand your product down to the smallest detail. You should be able to talk to a novice as well as a professional with great ease. Having examples and success stories at the ready help demonstrate your knowledge giving you credibility. Know the styles, colors and features. Understand the best way to install the product. Be familiar with any potential issues that may come up over time so you can stay ahead of the game and solve any problems that may arise quickly and keep your customers happy.
Finding the right franchise to buy can make all the difference. Look for a company with a product that you believe in with a solid track record of success over time. A company that has been around, has a large installed base, and is still growing. You also want to find a franchisor who understand that training and support are critical to the success of their franchisees. Look for a company that provides extensive training on how to understand your customer’s needs and how to present the product line so your customers understand how it meets their needs.
Many franchisors will talk a good game. They tout all the national advertising they buy. That is important, but you also want to know how they are going to help you at home in your local market. What are they doing to help get you started and become successful? The right company will help you put together a marketing plan and provide ongoing support and training. Starting out on the right foot is the quickest way to get a return on your investment.