Franchise Update Magazine Issue II, 2013 - Page 68

Grow Market Lead Speed of Delivery Highlights from the 2013 AFDR The 2013 Annual Franchise Development Report (AFDR) is a comprehensive guide to sales and lead generation performance in franchise recruitment. The report drills down to industry categories, investment levels, and recruitment budgets; provides data on marketing costs; reports the top-producing sales and lead sources; analyzes current The only franchise sales and lead generation and historical industry growth trends; and reveals performance evaluations of franchise websites and follow-up benchmark report available in franchising. to prospect inquiries. The data and analysis in this 150-page report can help you accelerate your system growth, SAVE $100! SAVE $100! Order by January 1, 2013 only $299! increase selling performance, and make11/15/2012 for for only $299! Order by smarter, more cost-effective advertising and marketing decisions. I n this issue we look at speed—speed in reaching the cepts is not an apples-to-apples exercise. Some concepts are prospect, speed in recruiting the prospect, and speed in simpler and less expensive to start up and operate, while othHOW DO YOUR SALES MEASURE UP IN TODAY’S ECONOMY? assisting existing franchisees. A quick response ers require many months of due diligence by both Franchise Update’s 2013 Annual Franchise Development Report is packed with timely information and benchmarking a distinct edge. For example, can give you data that can help your franchise system grow parties, followed by site selection and construcfaster and close more deals. tion. An important number to look at is whether do you know how quickly you reach prospects? This in-depth report features results from more than 110 organizations actively expandingshould. And how are your competitors doing You their franchise systems. The thoroughly researched report spotlights the respondents were improving in their own eyes. latest trends and reveals franchise success drivers that are sure to boost the octane at that? These are For example, when asked if their average closing rating in your sales department. important questions to ask, and the AFDR provides useful benchmarks to making period was longer, shorter, or the same as in previSmart franchise organizations are watching lead-generation and sales trends,measure adjustments, and selling more deals. And you can stay ahead of the curve with this report. your development team against. ous years, 15.8 percent said it was shorter; nearly Own the most comprehensive sales and lead generation data available in franchising! Consider what eMaximation’s Jeff Gooch two thirds (64.4 percent) said it was the same; Target top sales producing sources Save in this development costs wrote thousands in year’s AFDR about speedy response and one in five (19.8 percent) said it was longer. Report organized by industry categories and investment levels by Ideal benchmarking for building budgets and media plans franchisors: The middle chart correlates investment levels Insiders complete survey to sales and marketing trends, costs, and budgets As the datacompanies totaling over 50,000 franchisemarket- industry categories suggests, companies with units and 42 No. of Weeks with the median number of weeks it took Report represents % of Total ing programspremier selling tool for to candidates quickly and weeks ormarketing suppliers. that respond franchisors, development consultants, 3 advertising & less franchisors to close deals with qualified prosThis report is a must buy 0% are poiseddigitally delivered end of November 2012 inof PDF format. Please allow 5 business days for delivery. to reap the benefits: 61 percent a ap- 4–6 weeks pects. For investment levels from $50,001 to 10.7% Reports will be plications are submitted within the first 24 hours 7–9 weeks $500,000, there is no significant difference; 14.3% Order now – contact Sharon Wilkinson: (800) 289-4232 ext. 202, following a 10 weeks brand’s quick response. it’s around 12 weeks. For investment levels Order online at: 7.1% above $1 million, that understandably jumps To orderAdditionally, to: significant number of20547, San Jose, CA 95160 by mail, send check a Franchise Update, Inc., P.O. Box applica11–12 weeks 21.4% If paying by credit card, complete the following information and fax to (408) 402-5738: tions are being completed within the first week. 13–15 weeks to 16 weeks. 17.9% Card Number Companies would do well to establish lead nur- 16–18 weeks The survey also queried franchisors on 7.1% Expiration Date Amount to Charge turing campaigns that reach candidates several 19–21 weeks how their average closing times compared 0% Visa MasterCard Discover times within the first seven days. A Americanemail 22 weeks drip Express with those of previous years. Results here are 3.6% Billing Address campaign that sends out relevant content at pre- 23–24 weeks mixed and vary by investment level. However, 3.6% Signature Date defined intervals can help a franchise build trust 25 weeks or more there are definitely signs of improvement in 14.3% and credibility and can serve to keep a company reducing the average time from initial conEmail report to: First Name Last Name “top of mind” so that a potential franchiseeTitle will Investment Level tact to closing. Company Name Median be motivated to take the next step. Email Address Telephone Less than $50,000 8 weeks We analyzed survey responses from more $50,001 – $100,000 Next year’s AFDR 11 weeks Right Market. Greater Results. than 106 franchisors representing 43,497 $100,001 – $250,000 12 weeks We continually seek ways to further raise units. We asked respondents the following $250,001 – $500,000 12 weeks franchisor awareness of development stanquestion: From first contact with a franchise $500,001 – $1 million 12 weeks dards, and to create additional benchmarks to help speed the adoption of best practicprospect, what is your curre