Afraid Of Missing Your Franchise Growth Targets? Here’s What To Do

If you’re starting up a franchise network, or you’re working on recruiting new franchisees to expand your network, then you’ve likely set yourself some franchise growth goals for the year. These goals are exciting — if you meet them, that is.

If you’ve found yourself short of your franchise growth goals in 2024, then it’s important to take stock of your current efforts. We’ve worked with a range of franchise networks in a range of industries to help them meet their targets — and here are some of the strategies we’ve seen and used to help franchisors just like you achieve and exceed their targets.

Ensure You’re Setting Realistic Franchise Growth Targets

When you’re setting targets, it’s important to ensure they’re achievable. You don’t want to set franchise growth goals that are too easy to hit, but you also don’t want to set goals that are unrealistic. Did you only open three new franchise locations in the last year? Then it’s unlikely you’re going to open 100 new franchise locations in the next year. Being realistic is important, because these goals will keep you accountable.

It’s also important that your growth targets align with your goals for the franchise network overall. Will adding too many franchisees too quickly result in you losing sight of quality? Will fast-tracking franchise growth help your business increase market share? These are questions that you need to ask yourself when you’re setting growth targets, because that way, everyone in your franchise network is moving in the same direction. 

Assess Your Current Marketing Strategy

How are you currently marketing to new franchisees? It’s important to regularly take stock of how you’re reaching out to the people that you want to become part of your franchise network. The more channels you’re able to cover, the better. Email is great for nurturing those with potential interest, while social media is a chance to stop people who are scrolling, looking for their next opportunity. Google Ads, meanwhile, is a way of reaching people who are intently searching for their next business opportunity, so they’re likely more certain that they want to become a franchisee. 

Work With People That Know Where To Find Franchisees

Sometimes, it pays to have an extra set of hands when you’re looking to improve your franchise recruitment marketing. After all, you’ll work with experts in other aspects of your business — working with key suppliers, working with accountants, and employing the help of health and safety experts — so why would it be different with franchise marketing? 

Eden Exchange facilitates and supports the growth of franchise networks in a couple of ways. Firstly, our franchise experts are able to craft tailor-made campaigns that attract the right type of franchisee for your network, so you can continue to grow. Eden Exchange reaches out to potential franchisees through tailored eDMs, social media advertising, and listings on a range of business listing websites, as well as qualifying and verifying the leads that come through. This way, you’re only talking to the best of the best, making it easier than ever to find your ideal franchisee.

We’re also able to help franchise networks grow through our online platform. The DealXchange platform is an intuitive space designed to streamline the process. We help you track potential franchisee enquiries, and provide a secure and safe space to negotiate bringing them into your network. You can automate the entire process, integrate our software with other business-selling software, and even pre-qualify your leads to ensure you find the perfect buyer for your business.

WhWho we are

Eden Exchange is an integrated multi-channel platform, simplifying business buying and selling. We match, refer and connect business buyers, sellers & brokers in an ecosystem that facilitates frictionless franchise, business and finance transactions. Visit www.EdenExchange.com and connect with our engaged and multidimensional transaction network today.