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Posted by katc in Ask The Experts on 25.03.2009 11:43:42 am | 1347 views
Hi, I am considering investing in an estate agency franchise currently but I have a couple of questions. Firstly, does the franchisor have to provide the franchisee with leads or, it the sole responsibility of the franchiser to generate and chase their own leads.
If it is my responsibility to generate my own leads how do I do this ? I guess this would be down to sucessful marketing of the business / advertising / etc but, any tips would be great.
many thanks
** Fantastic website by the way! **
Hi Matthew,
I have not had a pack as yet but, thanks so much for your advice and very quick post.
I think its clear that I have to do a lot more due diligence before making any decisions. You may see me here again very soon with more questions!
Thanks again
Kat
Matthew on 31.03.2009 1:04:31 pm | ReplyMore than welcome and if you have any more questions please just ask! :)
Hello Katc
The questions you have really are fundamental to all potential franchisees - who finds you your clients? Matthew as usual is spot on when he describes the accountability of the franchisor. If they offer to provide leads for you, you need to ask them how this is done and also establish the value of these leads. For example, if the franchise agreement stipulates that they will send you a set number of leads per month, this is only effective if trhey are bona fide leads, well qualified and genuinely interested in talking to you about business. If they simply provide you with a number of names and email addresses they could be fulfilling their commitment to provide "leads" but they could prove to be valueless.
Secondly, bearing in mind you are considering buying a business model (the franchise) the manual should specifiy who does what including provision of leads. When you look at a franchise, whichever it is, ask hard questions withoiut embarrassment and ask for contact details of existing franchisees so that you may talk it through with someone actually running a franchise - ask for a few names, by the way and try to find a franchisee who is new and one has been around for a while, it all helps.
Feel free to email me direct if I can be of any help.
JT
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Hi Kat!
Glad you like our site and thanks for posting :)
I'm afraid that this question is a difficult one to answer - quite simply it depends on the franchise and what is stated in the manual/agreement. I'm guessing with an estate agency that they expect you to place local advertising and generate the bulk of your own leads however if they have nationwide and Internet advertising and marketing in place they could well be passing leads on to you also.
So in answer to your questions:
Does the franchisor have to provide the franchisee with leads
Only if stated in the agreement and manual.
If it is my responsibility to generate my own leads how do I do this ?
The franchisor should provide you with a marketing plan, after all you are buying their working system and with this system should come their tried and tested methods. Hopefully you are given training in all aspects of running the business.
Have you contacted the franchisor yet to gain more details about their franchise? If not then I would hope their franchise pack answers most of these questions more specificaly so if you have not already done so I would request a pack!
Kind regards,
Matthew Anderson
The Franchise Shop