Franchise Validation: What, Why, & How to use it for Attracting Leads

Before buying a franchise, prospects can interview current franchisees to access the franchise opportunity. This franchise validation is one of the due diligence factors.

Importance of Franchise Validation

Franchise validation helps prospective franchises in making the right purchasing decision. It also provides a deeper insight into the franchise system.

Potential buyers may ask various questions before making their decision. It may include:

• How is it like to be your own boss?
• When did you break even in this franchise system?
• What was your biggest business challenge and how did you overcome it?
• How much support was provided by the franchisor?

Existing franchisee owners can provide you with the right information as they are in this franchise system 24x7. When you want to take a decision, a little bit of reassurance can go a long way.

If you are making validation calls, then make sure to call more than 10 franchisee owners - from recently opened to experienced stores.

Using Validation to Attract Franchise Leads

Existing franchisee owners can make good use of the validation calls by reiterating the core values of the brand.

Here are questions that the franchisee owners can ask their prospects.

• Were you into the franchise business before?
• Have you understood the franchise’s culture and are you comfortable with it?
• Are you passionate about our franchise?
• Do you know our value proposition?

If your franchises get satisfactory answers from prospective buyers then they are likely to be suitable for your franchise system. 

To know more about franchise validation, Contact Us.