A recent report from Franchise Insights noted increases in searches for common franchise-related terms, including franchise opportunities, franchise for sale, buy a franchise, and best franchises. Supporting these findings is data from the Federal Reserve showing an increase in the number of high-propensity business applications over the same timeframe.

This increase in search traffic for key terms is exciting and shows positive trends for the franchise industry. At Franchise Ninja, we know that the competition is strong for these terms and that while an increase in search volume is positive, it won’t be able to help with lower Cost per Lead or Cost per Acquisition.

That’s why we want to dig deeper and explore what the numbers look like for business ownership in general.

Spoiler Alert: Those numbers are even more exciting!

When you look at more general terms - start a business or buy a business - you see the search interest for these terms dwarf the more specific franchise-related terms. At Franchise Ninja, we believe this is where the real growth potential for the franchising industry lies. Capturing even a small percentage of these individuals, who are looking for business ownership opportunities but have not yet considered franchising, can radically transform the industry and spur exponential growth!

Historically, Franchise Development teams and their marketing partners have focused only on those who have already started exploring franchising as an option. This makes sense as it refines targeting to those who are pro-franchising and focuses efforts on converting individuals further down the sales funnel.

However, it’s a smaller pool of individuals, which means it’s a much more competitive pool to play in. Throw in the complexity that comes with more franchise brands starting each year, and it’s easy to see that the difficulty in capturing the attention of these individuals is growing. What does that mean for your Fran Dev efforts? It means the Cost per Lead and Cost per Acquisition are rising — fast!

As brands focus on capturing the attention of those already in the market to purchase a franchise, the industry is overlooking a large pool of individuals who:

Don’t know about franchising
Don’t believe they can afford a franchise
Don’t understand the value of joining a franchise
Believe franchising is just made up of fast-food brands
Believe franchise owners are just “glorified employees”
Believe franchise owners have a lack of control or autonomy

By expanding your marketing efforts to include individuals who want to start a business but need education on the value of franchising, you expand the pool of potential franchise owners and the number of potential awarded locations in your future.

Through educational advertising, these candidates will start to see your brand as a reliable and trusted resource for guidance and information. As they come to understand all that franchising can offer, it’s only natural that they would put your brand at the top of their list. Building trust and nurturing these candidates over time will lead to more awarded locations!

Franchise Ninja delivers these individuals to you in a targeted way. Our platform identifies those who are searching for information on buying or starting a business by:

Name, first and last
Email
Estimated net income
Estimated net worth
And up to 35 other important data points

These In-Market Candidates can be identified in each geographical area your brand is looking to expand. When these candidates become engaged with a franchise brand, you’ll receive real-time notifications, opening up the door for more robust conversations.

For too long, franchise development marketing efforts have been limited by the number of potential candidates, competition among brands, and a lack of innovative options for identifying and targeting future franchise owners. Those days are over with Franchise Ninja.

Schedule a meeting with one of our Product Ninjas and find out how we can help your brand open more locations!

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