Franchisors: Often overlooked or not even calculated here’s a dynamite piece of advice for all franchisors. You have to know your cost per placement in order to set your recruitment budget and in it’s simplest format lets say you pay for a stand at a franchise show and it costs you £4,000. Lets say you then get 50 enquiries and you recruit 2 franchisees from that. Your cost per lead has worked out at £80 and your cost per placement has worked out at £2,000. Even on budget online marketing, let’s say an online advert costs you £500 and you get 25 leads and sell one franchise from that, your cost per lead would then be £20 and your cost per placement would be £500. One of the problems is that leads are usually not filtered in any way, so as a Franchisor you’ll get leads from areas you don’t want, or people without the required capital or in some cases even leads that aren’t really interested in your category! The latter is a common ploy from certain websites just to send leads through, but those leads waste everyones time, and the franchisee concerned gets bombarded with brands they don’t want and it’s a very bad practice with some websites out there.

What if your cost per lead was only £10, and you only got leads from areas you wanted, and from people who had a genuine interest in your category and who already confirmed they had the required capital? Well with Franchise Life you can fix this cost and have the protection of all those filters too. When you list with us as a recommended franchise that’s what we’ll set up for you so every lead is already pre qualified and THAT is a unique service in the franchise sector.

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