Tips for visiting a franchise exhibition
Though the internet has made franchise opportunities easily accessible, it does not however mean that franchise exhibitions have become obsolete. They remain a convenient meeting place where personal relationships with franchisors, bankers and advisors can be established under one roof. This article will show you how you can optimise the results you get from an franchise exhibition visit.
1. Find out what’s on offer
As soon as you have decided to attend a specific franchise exhibition, visit the organiser’s website and find out what’s on offer. In most instances, exhibitors will be made up of franchisors, franchise advisors and banks. Workshops on franchise-related topics are also held.
2. Plan the visit in advance
Once you know which franchise brands will be represented, you can begin to plan your visit. Resist the temptation to cram too much into one day. Looking back a few days after the visit, it will have become a blur and you won’t have gained much. Especially if you want to attend workshops as well, it may be best to visit the same expo twice.
3. Don’t skip the workshops
With all the exciting franchise opportunities on offer, it may be tempting to skip the seminars. We understand that but our advice is, “don’t do it!” Especially if you are new to franchising, these events are an ideal opportunity to gain a basic understanding of how the concept works. Experts explain the concept, franchisors present their opportunities and franchisees relate how taking this important step has worked out for them.
4. Stay focussed
No matter how well you plan your time at the expo, the sheer number of franchise opportunities on offer is likely to overwhelm you unless you stay focussed. Visit only those brands you have earmarked as being of specific interest.
5. It’s about relationship-building
An expo is not the place to finalise a franchise deal. Meet the people behind the brand, gain a better understanding of their concept and move on. But before you do, make notes and possibly arrange a follow-up meeting with those franchisors you see as potential partners. Delete the others from your list.
6. Don’t succumb to hard-sell tactics
No ethical franchisor will try to convince you that this is the opportunity of a lifetime and unless you sign up right there and then you will miss out. Hard-sell tactics have no place in franchising. You need to carefully consider the proposition, have your professional advisors check it out and talk to a few of the network’s existing franchisees before you make up your mind. A good franchisor will expect nothing less.
7. Put your best foot forward!
With the large number of franchise opportunities available, it’s a buyers’ market at the moment but the top brands continue to have waiting lists. This means that you have to sell yourself to them. Complete the brand’s application form to the best of your ability and be honest about your abilities and resources. Should you be accepted as a franchisee of a leading brand, life will be much easier for you. Easier access funding and prime real estate, highly competitive bulk deals and quality support are just some of the advantages a respected brand offers.
8. Remember the advisors
Establish personal relationships with representatives of banks, franchise advisors and solicitors. They can be found at these expos because they understand the franchise sector and want to support it. One prominent bank has a slogan, “We offer advice long before we offer funding!” And look out for the stands of the British Franchise Association and Whichfranchise. You will find a warm welcome and plenty of useful information.
9. Allow yourself regular breaks
Attending a franchise expo is hard work. It’s hot, people are pushing and you need to absorb a lot of information. To stay on top of your game throughout the day, you need to allow yourself a few breaks. Most expos have a coffee shop on the premises where you can sit down, enjoy some refreshments and relax. This is not a waste of time; it’s an opportunity to recharge your batteries.
10. Follow through
Provided that you followed the above pointers, you should have gained valuable insights. Use them to discard those franchise opportunities that are no longer of interest and follow up on those that are. Within a matter of months, you could be the proud owner of your own franchise business.
