Franchise and Small Business Startup News

CategoryFranchise research

Who Buy Franchises? Prospect Data Shows Strong Income and Home Ownership Levels

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How much money do you need to start a franchise? With so many franchises for sale at different investment levels, financial stability might be just as important as cash on hand. That’s one observation from Franchise Ventures as it released its latest study about the financial health of prospects who submit leads through its franchise portals. More than a third of its franchise prospects had...

67% of Franchisors Plan to Increase Recruitment Budgets In 2019

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According to a survey of active franchise systems conducted by Franchise Insights, franchisors plan to raise their recruitment budgets this year as favorable growth conditions continue. More than 86% of franchisors plan to spend at least the same amount in 2019 as they spent on franchise lead generation in 2018. And 67% of respondents said they planned to increase their budgets for franchise lead...

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...

Who Buys Franchises? Prospects Span All Generations

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The next generation of business owners is likely to be younger than you might think. According to the largest study of prospect franchise buyers to date, more than half of those interested in buying a business are under the age of 50. Baby Boomers and older are still a force to be reckoned with, and 34% of franchise prospects are age 52 to 71. Generation X, from ages 37 to 51, led the pack with...

Franchise Marketers, Do You Know WHERE Your Prospects Are?

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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 across the U.S. According to the largest and most current...

Franchise Prospect Data Shows Opportunity in Business-Hours Mismatch

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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 hours and the times that potential franchise owners are sending inquiries...

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