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CategoryFranchise Development

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

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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.  The 39- to 54-year-old cohort claimed 44.9% share of prospects contacting franchisors through the Franchise Ventures demand-generation platform in 2019, and it indexed the highest among age groups for estimated household income...

New Mobile App Helps Franchise Development Teams Improve Contact Rates

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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 respond...

Development Budgets Increasing For Franchises Across All Growth Stages

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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 the Franchise Ventures demand-generation platform. “So many...

Who Buys Franchises? Portals Show Focused Intent

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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 or two at a time. Maybe it is a result of researching options on...

Know Your Prospects: What Millennials Bring To Franchising

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We know Millennial generation is bigger than the Baby Boomer generation, and a huge economic force in its own right. And we know the 22- to 36-year-old group of Millennials  are responsible for 13 percent of franchise prospect inquiries, thanks to a study by the largest network of franchise portals in the U.S. But if you’re in franchise development, making a call to a younger prospect, what...

4 Tips to Improve Your Franchise Contact Rate

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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 business opportunities and contact franchise sales teams. In fact, the mobile...

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