Presentation on theme: "Smart Cartridge ~ International Lead Generation ~ Suzie McCafferty International Development Director."— Presentation transcript:
Smart Cartridge ~ International Lead Generation ~ Suzie McCafferty International Development Director
Finding international leads can seem like Mission Impossible.... Your mission… is to find international franchisees!
~ International Lead Generation ~ Smart Cartridge Best sources of international leads Qualification of international prospects Profiling international franchisees Summary
Smart Cartridge International Retail Franchise, est. 2001 Specialise in professional remanufacturing of used printer cartridges 60 franchisees within 6 countries 2nd largest player in UK & Europe
Best sources of international leads Wide range of advertising & recruitment methods used Method depends on type of franchisee i.e. direct franchisee, master franchisee or area developer Each has a very different profile Clear recruitment strategy for each new market to successfully target the “right” candidate
Best sources of international leads Don’t just advertise on the first franchise recruitment website or magazine you find! Consider: a) Type/profile of prospects b)How best to target prospects c)Budget available
Lead generation strategy ~ Spanish Master Franchisee ~ Multi pronged approach! Local market research Excellent demand for product/service & “franchise friendly” environment Generic Master Franchise profile Adapted profile to meet key criteria for Spain
Lead generation strategy ~ SPANISH Master Franchisee ~ Validated by local Franchise Recruitment agency Local advice on best recruitment & advertising methods Allocated budget towards recruitment strategy a)Recruitment adverts & editorials in franchise & business publications/websites b)Presence at franchise exhibitions & networking events over 6 month period Generated market knowledge & brand awareness
Different recruitment strategy Enquiries via general recruitment adverts & editorials 100’s of enquiries from all over world Many not suitable due to: lack of demand for product, no franchise presence or wrong candidate Lead generation strategy ~ Area Developer DOMINICAN REPUBLIC ~
Other Sources of Leads… Own website Franchise Association websites International Franchise Exhibitions Direct approach with intermediaries Franchise Directories Regular promotion via PR agency
Qualifying International Prospects Key to success is quality of prospect, not quantity Time is money…discard less suitable prospects early & concentrate on those who meet the requirements An effective lead qualification process enables you to save time & filter out “dead” leads
Qualifying International Prospects Send appropriate franchise literature Follow up enquiry with telephone call within 3-5 days (1st tel interview) Consortiums/companies, qualify all directors individually Reluctance to return documents highlights 1) lack of interest 2) inability to follow procedure = time wasters Having received completed documents, contact the prospect again by telephone (2nd tel interview)
Qualifying International Prospects Business plan & proof of funding Validate Business plan with own market research (& 3rd party if possible) Request due diligence information Agree Heads of Terms prior to HO visit Prospect invited to visit HO operations (3rd interview) HO visit to local market
Qualifying International Prospects Only as good as your worst franchisee! Invest time in selecting the right candidate Qualification process ~ 6-12 months Don’t purely sign as many franchisees as possible Vital you qualify prospects properly using the correct strategy
Profiling International Franchisees “Hundreds of franchisees fail each year. The most frequent causes: lack of funds, poor people skills, reluctance to follow the formula, a mismatch between franchisee and the business...” (Wall Street Journal, 2007).
Profiling International Franchisees “profiling tools” or “psychometric tests” Results enable categorisation & suitability of prospects International franchise consultant or advisor to help prepare different profiles
Organisational Previous experience of operating a business Ability to follow proven system Ability to meet development goals Ability to multi task Ability to manage people/leadership qualities Ability to resolve disputes Ability to mentor Recruitment experience Sales experience Networking experience Ability to generate new ideas Ability to work under pressure Ability to accept support & advice Ability to communicate & report to HO If a consortium, must appoint a brand manager Personal Extremely ambitious Self motivated Forward thinking Confident Financial Sufficient working capital for pilot store Sufficient working capital to develop MF operations i.e. training facility, support services, HO support staff, ongoing professional fees, ongoing marketing & promotion of brand, franchisee recruitment etc Fluent oral & written English! Smart Cartridge Master Franchisee Profile
Summary International expansion is a fantastic way to grow your business with many rewards...if you find the right franchisees! Never enter a market that you haven’t researched & validated An effective international lead generation strategy is one that is carefully planned, budgeted for & uses the most appropriate methods Make use of the local market knowledge
Summary Always take time to qualify prospects, discarding “time wasters” early Always carry out thorough due diligence on serious prospects Never enter a new market purely for franchise fees & to increase number of franchisees Don’t under estimate the time it can take to recruit Don’t under estimate the additional & ongoing costs associated with international franchising
In true Mission Impossible style… this presentation will self-destruct in 5 seconds… so good luck with your search for international franchisees!