Franchise development

Smaller States Post Big Gains in Q4 Growth of Franchise Interest Index™

February 20, 2020

Alaska, Hawaii lead overall gains, Georgia tops growth among large-population states Small- and mid-sized states with adult population under 5 million showed some of the strongest year-over-year growth in franchise-buying interest, according to the latest data  from Franchise Insights. And among the largest states, Georgia tops the Franchise Interest Index™ for both overall interest and

Gen X Claims Largest Group of Franchise Prospects, Ranks High for Income, Home Ownership

February 14, 2020

While Millennials are the fastest-growing group of franchise prospects, Generation X was far and away the largest age group interested in buying a franchise last year.  Generation X claimed 44.9% share of prospects contacting franchisors through the Franchise Ventures demand-generation platform in 2019. Here is a demographic profile of the 39- to 54-year-old cohort, based

New Mobile App Helps Franchise Development Teams Improve Contact Rates

February 7, 2020

Norfolk, Virginia, February 7, 2020 — Franchise Ventures released a new tool to help franchise development teams improve early engagement  with prospective franchisees. The Franchise Insights mobile app makes it easier to quickly respond to new prospects, and helps unify each prospect conversation across phone, email and text. “The mobile app helps franchise development teams

Development Budgets Increasing For Franchises Across All Growth Stages

December 19, 2019

Over 63% of franchise systems plan to spend more to recruit new franchisees in 2020, and a closer look at key segments shows that confidence is strong in franchise systems in all stages of growth.  Plans to maintain or increase spending were strong across emerging, established and large franchise systems, according to a survey across

Three-Quarters of Franchise Prospects Own a Home, Most for 5+ Years

December 10, 2019

Nearly 3 in 4 prospective franchisees own their own home, and more than three-quarters have lived at the same address for more than 5 years, according to the latest data analysis by Franchise Ventures. Those are important indicators of financial wherewithal and stability for franchisors recruiting new owners for their franchise. For this analysis, Franchise

‘Lifestyle Rewards’ Rank as No. 3 Reason to Own a Small Business

December 5, 2019

Owning a small business can give you the freedom and flexibility to match different lifestyles, and that’s important to more than half of entrepreneurs answering a survey across the Franchise Ventures demand generation platform. More than half, or 56.5%, say “lifestyle rewards” are one of their top motivations as they think about starting or buying

Income Potential Ranks as No. 2 Motivation to Own a Business

November 25, 2019

While a desire to “by my own boss” is the No.1 motivation for people thinking about buying a business, the potential to earn more money ranks a strong No. 2, according to the business-buyer survey across the Franchise Ventures demand generation platform.  Nearly three-quarters of respondents, or 72.5%, cite “income potential” as one of their

Franchise Prospects Top $100k in Household Income

November 22, 2019

One-third of prospective franchisees have at least $100,000 in annual household income, according to the latest data analysis by Franchise Ventures — and income is clearly a key factor in finding franchisee candidates who are qualified for different opportunities. For this analysis, Franchise Ventures combined its pool of investment inquiries with demographic data from Alliant,

One Third of Prospective Small-Business Buyers Ready to Switch From Corporate Life

November 18, 2019

More than one-third of potential business buyers are motivated by a desire to stop “climbing the corporate ladder,” according to the survey across the Franchise Ventures demand generation platform.  “In many cases, experienced managers and executives are ready to run their own show,” said Michael Alston, president of Franchise Ventures. “That can be a huge

‘Be Your Own Boss’ Tops List of Small-Business Ownership Motivations

November 11, 2019

The No. 1 reason that budding entrepreneurs want to own their own business is to “Be your own boss,” according to the survey across the Franchise Ventures demand generation platform.  A full 87% of users starting a franchise search said that being the boss was a primary motivation for them, beating out income potential and

Franchise Daypart Data Helps Unravel the Mystery Behind “Low” Contact Rates

October 10, 2019

Ask any franchise development team what the No.1 franchisee recruitment challenge is, and chances are you’ll hear “contact rate” mentioned. The percentage of franchise inquiries with a successful return phone call is consistently lower than targets in industry Mystery Shopping surveys.  This is even more astounding when you realize that the vast majority of prospects

Who Buys Franchises? Digital Prospects Show Focused Intent

March 20, 2019

With so many different franchise options available to a local investor, it’s easy to assume that a typical franchise prospect is talking to lots of different franchisors at the same time. But that’s a wrong assumption. The largest analysis to date of prospective franchise buyers shows the majority are focused on talking to only one

4 Tips to Improve Your Franchise Contact Rate

February 1, 2019

What’s smarter than a smartphone? Two smart phones – yours, and the one in the hands of the local entrepreneur who wants to know more about owning one of your franchises. In less than a decade, smart phones connected to the Internet have skyrocketed to become the No. 1 channel for potential investors to research

Sales Advice For Emerging Franchisors

January 29, 2019

If you’re an emerging franchise, making the leap from an owned-and-operated business to the franching model, you’ve got a tough task. Your first few sales are based on the promise of your concept, not a track record in serving franchisees. Fortunately, many prospective franchisees are looking for ground-floor opportunity, and may be emotionally drawn to

Franchise Marketers, Do You Know WHERE Your Prospects Are?

January 11, 2019

Franchisors, there’s a huge mismatch in your new-unit sales funnel – 67% of all franchise inquiries are sent outsite of business hours, times that don’t lend themselves to an immediate phone conversation. And that problem gets tougher for national franchisors, when you consider the vast expanse of the 50 states and 6 main time zones

Prospect Data Shows Contact Opportunity Beyond Business Hours

January 2, 2019

If you work in new franchise development, you know how crucial the first phone call is – and how hard it is to make that phone connection. Year after year, contact rates for the franchising industry remain challenging, and now we know why. It boils down to this: There’s an eye-popping mismatch between typical business

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