Franchise Marketing is a delicate, unique process. One that balances the act of selling a business model with the process of qualifying truly effective business partners. Franchise Marketing Systems specializes in the development of systems that will attract and close qualified franchise candidates for franchise models of different types and sizes. The process is designed specifically for the organization and the implementation can be managed entirely by Franchise Marketing Systems (FMS Franchise).
How to Qualify Your Franchise Buyer:
Qualifying a franchise buyer refers to the process of determining whether a potential buyer has the financial resources and motivation to purchase a product or service. This is typically done to ensure that the sale will close and to protect the seller’s interests. Here are some steps you can follow to qualify a buyer:
- Determine the franchise buyer’s budget: Find out how much the buyer is willing and able to spend on the product or service. You can do this by asking about their financial resources and any price range they have in mind.
- Assess the franchise buyer’s motivation: Determine why the buyer is interested in purchasing the product or service. This can help you understand their level of commitment to the purchase and whether they are likely to follow through.
- Evaluate the franchise buyer’s creditworthiness: Check the buyer’s credit score and financial history to determine their ability to pay for the product or service. You may need to request financial documents such as bank statements or tax returns to do this.
- Verify the franchise buyer’s identity: Make sure you know who you are dealing with by verifying the buyer’s identity. This can help protect you against fraud and other risks.
- Discuss the terms of the sale: Clarify the terms of the sale, including the price, payment terms, delivery dates, and any warranties or guarantees. This can help ensure that both parties are on the same page and that the transaction goes smoothly.
By following these steps, you can help ensure that you are dealing with a qualified and motivated franchise buyer who is able to complete the purchase.
For more information on how to qualify your franchise buyer and sell franchises, watch this: