My Podner on today's show is Mike Pollock and he's going to give us tips on how to build a franchise development system for your franchise. But it was more than just that because we also talked about how to take a warm lead through the process to close the deal.

Time Stamp

Mike Pollock Intro 00:00:40

Segment 1 00:03:15

Get to know Get to know Mike

Segment 2 00:22:10

Topic Segment – Franchise Development 101 (Sales)

Segment 3 01:18:40

Quickdraw Questions

Topics discussed in this episode:

How to set up an efficient process for franchise development

· Brand Overview Presentation (45 minutes to 1 hour long)

· Develop a solid franchise prospect application that focuses on:

o Background

o Financial situation

· Have the Unit Economics Call

o FDD introduction call (15 minutes)

o Unit Economics (45 minutes)

o Receive signed Item 23 (Proof of receipt of FDD)

o Password

o Validation instructions

· Validation Debriefing Call

· Discovery Day

o Brand Overview Review

o Meet the Team

o Lunch and dinner are the best opportunity to visit with prospects

o Field Visits

· Voting Process

It is best to have multiple prospects attend a discovery day (between 4 and 5)

If you are going to hire a company such as FranLift to manage the franchise development process, then it is best to get them involved earlier rather than later.

Have a marketing budget set aside in advance. It typically costs between 8K and 15K to bring 1 franchisee in the door.

Mike Pollock

FranLift Franchise Experts

[email protected]

214-551-0261

Kit Vinson

FranMan Inc. (Franchise Manuals)

[email protected]

214-736-3939 x1