Rebound...

A rebound lead is a basketball analogy…the client takes a shot at a franchise and it was a miss, or non-match. The client is now getting back into the game and taking another shot into his or her search for that perfect business. Will he make a score for the home team, or should he be taken out of the game and transferred to a new franchise? What is your trade worth?

Ok... maybe a little over the top... but hopefully you are getting the point.

Rebound Marketing

Every franchise seller knows that rebound leads are out there. Statistics show that it can take the average franchise company 500 raw Internet inquiries to sell one franchise. Our question is this: “What happened to the other 499 inquiries?” In most cases, they were simply tossed away!

Why do we have so many leads and such a poor closing ratio? In our experience, it takes only 11 broker referrals to close a sale. Usually the other leads don’t close for one of the four following reasons:

1. The territory is sold out

2. The prospect lacks adequate capital

3. The prospect prefers absentee to. active ownership

4. The prospect lacks experience or the right skill set

Can these leads be revived? We think they can because a rebound consultant works through these reasons.

 

Let’s take the case of a sold-out territory: if an inquiry comes from a territory not available for sale by the franchise, the lead may be discarded. A follow-up phone call from a consultant, however, might reveal that the prospect is in fact looking at another territory-- in which case the lead would be re-routed back to the franchisor.

 

The rebound consultant helps discover possibilities: there may be the opportunity for a prospect to take advantage of a resale opportunity and owner financing. Perhaps the prospect is a veteran and has access to the many existing programs designed to help vets. The job of the rebound consultant is to know about resources and help the client obtain funding, perhaps through suggesting borrowing or partnering with family members, obtaining grants, finding angels or other financial options that a good consultant will have heard about

And while we’re having positive thoughts consider: time brings changes. Maybe your prospect will win the lottery, sell some property, receive an inheritance or win a lawsuit!

And what about absentee vs. active ownership? some prospects may not have been approved for a franchise because they wanted to keep their jobs and run the business absentee. In the interim, they may have lost their jobs and now have once again started looking for an opportunity. A rebound consultant is there to catch them at the right time.

And finally, what about the client who lacks experience or the right skill set? We rarely run into this situation. Most franchisors have excellent training programs. And if your prospects are truly passionate about owning a business, they will invest the time and resources to sharpen their skills so that they are truly ready to get off the bench and jump in the game.

Resuscitating every lead is impossible, but more often than not, there is value in dead leads. By working in tandem with a rebound consultant, you will get reports that increase your knowledge about your own systems. What would you do with 12 months of data that demonstrated how and why your prospects didn’t become franchisees ? This information is an invaluable resource that can improve and strengthen your efforts. Indirectly, Rebound Leads offers you operational insights at a fraction of the cost you would pay a consultant to do an analysis for you.

 

This is a tough game to lose. Winning often depends on catching a rebound!

 

www.REBOUNDleads.com

AD-vantage Promotions /Plan Ahead Events

4124 Mona Park Road

Racine, WI 53405

1.877.651.2440 

CLICK HERE to SHARE your Rebound Leads