How to Market your Business Franchise

"Hi! I'm Tim Ricke, past entrepreneur of the year, on behalf of Expert Village. In this segment; now we're getting there, the marketing of your franchise. You've got the package ready. There's only one thing your need and that's going to be an attorney, and we'll get to that in a moment. Let's look at how do you protect yourself when you are marketing your franchise. If you're doing it in house, you have total control of every aspect that starts and there's going to be a lot of documentation when you franchise so you want total control or to the best you do with that. The way it's done is franchising. Marketing firms and actually have sales people who will do this for you. As an example, the cost of this. If you have a sales person selling their franchise and the franchise fee is 25 thousand dollars, they're probably going to get 15 thousand of it, but if they're good and they convey your message properly. Again, that's a system you're going to give them on how to do it, then it's worth it. Otherwise, do you have the time and the resources to do it within your office. The 3rd way is to marketing from a firm that goes to the point of referral. In other words, they take a client through this process of finding out where their head is at so far as buying a business and helping them find the right kind of business for what they're trying to achieve. This is a very different approach and there's only one company in the country doing that. As an example, I really want a good cash flow business, what can you recommend. They'd ask the coach and he might say well get a maid service. I don't want to clean toilets. You see, you don't clean toilets; you're running the business. It's automated so that perhaps you don't have to be there very often at all. It might be a real solution for you. When they get to the point of finding out exactly what is the best kind of business for them, they give them a selection of 3 or 4 to look at. Then when they have selected them, they turn them over to the company so that the company is now in control of what's being said and what's done; protecting you. Those are the 3 ways to look at buying a franchise or selling a franchise."