Why so objectionable?
Overcoming objections can be as easy as 1-2-3!
In this article we cover some common objections franchise prospects give to franchise salespeople. We also cover step-by-step solutions and sales guidance for franchise salespeople.
If you were a fly on the wall in franchise companies throughout the world you would hear this simple request- “I just want to add some good new franchises to my system, is that so much to ask?” Selling franchises was never an easy task, now the economy just seems to be piling on!
Used to be; get a prospect on the phone, answer a few questions, send out some information on the company, wrap it all up with a decent discovery day and poof, new franchises! So why are prospects so objectionable? Could it be the main byproduct of our current financial marketplace is the creation of a more inquisitive prospect?
When consumer confidence is high, most potential entrepreneurs’ outlooks overflow with positivity leading to thoughts of certain success. In strong markets questions are posed from prospects with a positive mindset, wanting to find the value in a franchise model in the hopes of moving forward.
However, in down markets potential franchisees are constantly reminded they would be crazy to open a business in these uncertain times. Prospects can’t turn on the news, read the newspaper or log on to the intranet without seeing large stop signs. In a strong economy, friends, family and the media encourage entrepreneurship, while in a down market friends and family question the soundness of any decision with perceived financial risk. In down economies prospects become pessimistic and much more discerning.
So what are the results of negative press and the pessimism of friends and family — a much larger volume of questions from candidates and increased doubt of your posed answers during the sales process. The answers you once provided with success are no longer “doing the trick”; prospects are asking follow up questions and want more validation than ever before.
It is not all bad news, there are many franchise systems currently growing well and some are even having better results than in years past. Solid franchise systems and strong franchise development people have been given an opportunity — through consolidation of many industries there is more opportunity and less “noise” for quality candidates to sift through.
So, how do we manage all these objections? Franchise development professionals have to replace a candidate’s lost confidence through diligent and thorough representation of the benefits of their franchise models.
By following the three steps below you will be able to understand what prospects are “actually” asking. You will be able to provide accurate answers, and eventually head off your most common objections, all leading to a more pleasurable process for both you and your new franchisees.
STEP 1 — Prepare yourself — prospects come in all shapes and sizes but often times their questions are similar. Make sure you have a strong command of all the top questions and detailed explanations ready to respond when the opportunity arises. Quick answers or those without detail scream to prospects your system is lacking, leading to more questions and objections trying to uncover the value of your system. You have the ability to reduce future objections by making sure your responses:
- Provide a non-evasive, clean response to the question posed.
- Create confidence through the depth and completeness of your explanation.
- Demonstrate clear benefits to the prospect.
- Differentiate your franchise from your competition.
- Differentiate your comprehensive system from a candidate “trying” it alone as an independent
STEP 2 — Ask some questions to ensure you understand what’s being asked — often times development professionals will receive a question masked as a completely different objection. After having lengthy phone calls with a prospect they still continue to be unsure and ask the following series of questions:
| Question/Objection | Translation | Follow up | There is a lot of competition in my area do you think it will be hard to get new customers? | I know he/she told me about the marketing but I just don’t think it will work. My area is different and will require other efforts. | I would be happy to recover the marketing plan adding additional color to how we combat competition would that make you more comfortable? |
|---|---|---|
| When do I speak to the franchisees – you can’t replace talking to someone who is actually doing it every day? | This person isn’t very informative; I am not getting the information I need. I am getting frustrated and want to speak to franchisees to get the information I need. | Speaking to franchisees is important. I certainly want to make sure I have answered all your questions. Do you need more detail on anything we have already discussed to help you feel more informed? |
| How long does it take for your franchisees typically to break even? | I am worried about how long this will take to get off the ground because the explanation of the marketing just doesn’t seem like it will work. | You have asked a lot of questions about the start-up period. Would it help you to have more information about the grand opening system and the initial marketing push? |
| When I come to discovery day will I get to see the marketing materials and can we create our own materials? | I want to see more materials because what I have seen so far doesn’t look that good…I think I can make better materials so I want to make sure I have the option. | I know you have seen our website and some of our marketing materials were mailed to you. Do you have concerns with the quality or effectiveness? Would it help if I provided more examples and discussed in more detail how we utilize them? |
| Will I meet the marketing manager when I am at discovery day? | I need to talk to someone who understands the marketing because this person really doesn’t and right now I don’t have confidence in the marketing program. | You can certainly meet the marketing manager when you attend discovery day. Do you have some concerns with the amount of information you have received thus far on the marketing? Would it help if we revisit the tenants of the program? |
A simple follow-up question may uncover what your prospects are genuinely concerned with. If needed, continue to ask questions until your candidates clearly states their concerns. Often times, if you have already spent time on a topic prospects will hesitate to ask the same questions again although they weren’t fully satisfied with the original answer. By asking them questions your prospects will be more apt to admit they need more information.
STEP 3 – “Say it first” – As you begin to understand what prospects are asking and what is important to them, front load the information. Often when a prospect pushes you for answers, your responses may feel to them like excuses, whereas if you are stating the benefits of your system prior to being asked, they are simply reasons for why your system works so well.
For example, if you feel your marketing plan is second to none, tout it throughout your materials and on your very first call with prospects. Tell them how important your marketing system is until they fully understand all the aspects and benefits of the marketing program.
So, how do you “say it first?” (Using your marketing system as an example).
- Make sure the information is prominent on your franchise website.
- Include detail on any web portal copy you are using.
- Mention marketing as reason for franchisee success in any PR opportunities.
- Include examples in the literature you send to prospects and highlight your marketing systems in your franchise information packet.
- Talk about marketing early and often during your phone calls with prospects.
By preparing yourself, asking questions to uncover the true concern, and “saying it first”, you can streamline your sales process, reduce questions and objections, and empower top candidates to join your system!
By: MJ Alto
