How to Get Brokers to Commit to your Brand

Don’t Ask Them to Marry You on the First Date!

Emerging Franchisors: Your first interaction with a franchisee candidate or a great franchise broker is not the time to ask them to marry you… It’s not the right time. Every marriage needs to be based on attraction, trust, and commitment. And that takes time.

Sure, you had a great conversation with a broker at a conference. The broker is interested in your brand… but that’s not enough. You need to do more. You need to back up your conversation with actions that create:

1. Attraction: a website with a compelling why you / why now, Item 19, KPI’s and USP’s.
2. Trust: a demonstrated process for nurturing broker leads, presenting your franchise, qualifying franchisees, and closing deals.
3. Commitment: a track record of franchisees that validate and very strong reasons that demonstrate your commitment to franchisee success.

Before planning any weddings, see our Bottom Thoughts on building your broker relationships.

Bottom thoughts

What is a broker and how can you get them to sell more of your franchises?

Well, to answer the first part, a broker is like if a franchise portal transformed into a person and talked with candidates in their community about franchising. Then, once the candidate decides what franchise they want to buy, they introduce them to you. And then, the franchisee says, “yes, I want to buy your franchise,” and pays you a franchise fee. Then, you take that franchise fee and pay the broker as a “thank you” for making the introduction.

Brokers should be seen as an extension of your team — thus, to get them to sell more of your franchise, treat them as such. Show them your brand, teach them your ways, Franchise Yoda.

To help the broker make more connection (you sell more franchises, not them):

1. Build relationships with them.
2. Invite them (by invite, we mean cover their expenses) to come see you and experience your culture/brand.
3. Communicate with them in all ways possible — news, LinkedIn, Facebook, email — even text if you are lucky.
4. Give them materials that are candidate helpful — so they just might pass that along to qualified and ready to buy buyers.

Just like any relationship — building one with the brokers takes time, integrity, and friendship. Evaluate your approach.