EXPERT ADVICE: Tony Meredith | Director and Head Coach | Tony Meredith Coaching
Sales Growth Strategies for Franchisees Sales is the lifeblood of any franchise, yet so many franchisees don’t know how to properly market and sell the products or services that they offer. They either lack the sales strategy, plan, or skills. In my experience, the majority of franchisees only rely on leads from their franchisor. Whilst these leads are great, the best way to grow a large franchise is to combine leads with proactive local area marketing and sales. I've spent over 25 years working for some of the world's largest organisations in a number of senior sales roles, and have sold a diverse range of products, including desserts, dog food, pharmaceuticals, and franchises. During this time, I've identified and actioned what it takes to consistently grow sales. At the highest level, there are only four strategies that can grow sales in your franchise: 1. Basket Size: Increasing the number of products purchased in each basket, cart, or shop. 2. Price: Increasing the average sales price (ASP). 3. Frequency: Increasing the number of times a customer buys a product or service. 4. New Customers: Growing the number of new customers that transact with your franchise. Let me break these four sales growth strategies into more detail. It is worth noting that the following suggestions are not exhaustive, rather a guide of some activities that you can introduce in your franchise to grow sales.
18 business franchise MAGAZINE
