Whether you’re thinking of buying into a franchise, or you’re already a franchisee, one of the most important things to understand is how to continually increase sales. You’ll also have to come to terms with the fact that it will now be your franchise accounting for most of your time. There’s a lot to learn and plenty of work to do, whether it’s a pharmacy, aged care franchise, or even a gardening business.
Here are some helpful tips on how to increase your sales and start your journey to wealth creation today!
1. Build your Own Sales Process
The big focus in today’s business world is the customer experience. That’s why you as a franchise owner need to understand how your customers experience your business from the minute they hear about you, until (hopefully) they leave as a satisfied customer. When buying a franchise, it’s easy to fall into the trap of believing sales will just happen because you’re working under an established name, but this isn’t always the case.
Customers certainly may find you more easily, however, to really give your sales a boost, you’re going to want to establish a sales process. This involves working out who your ideal customers are, the best avenues to market to them, and how to turn them into loyal customers. It takes some planning, but you’ll be glad you did.
2. Word of Mouth
For all the power of digital marketing, word of mouth and networking still have a big part to play in business. Let’s say you’ve found a pharmacy business for sale but you need ways to increase sales in your local area. Plenty of people need to buy pharmacy products, but what makes them choose you over your competitors?
The best thing about word of mouth is that it takes care of itself. Provide customers with great service, and they’ll tell their friends. But you can give the process a boost by using social media to encourage customers to share their great experiences. Offering giveaways to those who share your business is a great way to kickstart things.
3. Local Area Marketing and Networking
For a more direct approach, use the sales process we mentioned earlier. If you understand your target customers and where they will be, make sure you are too. It could be local events, trade shows, sporting events, but you need to take every opportunity to network directly within your local community.
This has the added benefit of getting yourself known in the local area. The nature of buying into a franchise means that your sales area is often targeted to a certain geographical area. As such, the importance of marketing to the people in your area can’t be understated. Once you show the community you value them, chances are they will value your business too.
4. Cut the Admin and Focus on Selling
If you want to focus your efforts on increasing sales rather than complicated admin tasks, let a franchise accountant take care of the books. If you really value your business and your time, contact us at MSI Taylor today.
For the best accountants Toowong has to offer, you’ve come to the right place. We also have a Robina accountant’s office for your convenience. For everything from tax returns to advice on buying into a franchise, look no further than the experts at MSI Taylor.