What Is Franchise Development?
What is “Franchise Development“? The definition of franchise development is an interesting one. It basically means the process franchisors use to find new prospective franchisees / investors.
There are a few key components to franchise development, including:
- Franchise Development Lead Generation
- Franchise Development Sales
- Master / Master Unit Franchise Development Sales
Here’s what each of these are and mean.
Franchise Development Lead Generation
In order to sell franchises, it takes leads. Leads typically come from:
We have an article on the Top 80 Franchise Lead Generation Sites that goes into more detail on each of these.
Here are the top franchise portals:
Here are the top franchise brokers:
Here are the top franchise development agencies:
Franchise Development Sales
Franchise development sales representatives are the people who sell franchises. They usually get a % of the franchise fee. Franchise fees are usually between about $10,000-$50,000 per location. There are companies that specialize specifically in outsourced franchise development sales called “FSOs” or “Franchise Sales Organizations“.
Here are the top FSOs:
Master / Master Unit Franchise Development Sales
Master Franchisees are groups or individuals that purchase an entire large territory from a franchisor and then find franchisees underneath them to buy smaller territories. They typically get either an up front sales commission or an ongoing % of sale or both.
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Entrepreneur with a focus on Lead Generation, Google Adwords, Bing Ads, and Conversion.