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Personal Services Brands Franchise Sales ReportBenchmarks & Insights to Drive Growth
Selected data from theThe FranConnect Franchise Sales Index Report 2019
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FRANCONNECT BY THE NUMBERS
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LEADER IN FRANCHISE INSIGHTS
FranConnect has more access to franchise data than any other company
in the world.
We are more than best-in-class franchise
performance management software.
We are also best practices in franchising.
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FRANCHISE SALES INDEX REPORT
Where & How We Derived our Metrics
• Represents franchise data from 554brands of which 160 represents Personal Services Brands.
• Covers the 2018 calendar year
• Leverages aggregated & anonymized data located within the FranConnect Franchise Sales Application
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A r e y o u a t t r a c t i n g q u a l i t y l e a d s w i t h t h e g re a t e s tl i ke l i h o o d of m o v i n g f o r w a rd i n y o u r s a l e s p ro c e s s att h e m o s t re a s o n a b l e c o s t - p e r - a c q u i s i t i o n ?
Personal Services
Part 1:Sales Lead Generation by Market Size
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MARKET SIZE DEFINITIONS
Micro-emerging brands: 1-10 locations
Emerging brands: 11-75 locations (emerging can also include re-emerging
brands that have passed through a stagnant period and are once more
experience growth)
Mid-market brands: 76-200 locations
Enterprise brands: 200+ locations
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NUMBER OF BRANDS BY MARKET SIZEThe 2018 Franchise Sales Index Report provides valuable insights from organizations across 4 key market segments.
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CLOSED LEADS BY MARKET SIZE
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AVERAGE MONTHLY LEADS BY MARKET SIZECompared to the previous year, franchisors with 200+ locations saw an increase in the number of leads generated on a monthly basis.
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Part 2: Overview of Leads & Deals
A r e y o u u s i n g t h e r i g h t t o o l s t o c o n n e c t w i t h l e adsi n y o u r v e r t i c a l / i n d u s t r y?
Personal Services
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TOP 10 LEADS BY STATE
Franchise Sales Insights – Personal Services Brands
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LEADS BY SOURCEWebsites were the number one source for leads in 2018.
Top 5sources for
leads in 2018
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DEALS BY SOURCEWebsites were shown to generate the most deals in 2018.
Top 5 lead sources that generated
deals in 2018
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• Despite being among the Top 5 leads by source, Social Media does not appear in the Top 5 deals by source.
Franchise Sales Insights – Personal Services Brands
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TOP 5 LEAD-TO-DEAL RATIOSBrokers have the highest conversion rate for leads that became deals.
• The average close rateof Personal Services Brands in 2018 is1.14%.
• Lead sources with the highest percentage of deal conversions primarily came from Brokers and Referrals.
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Part 3: PortalsA f r a n c h i s e s y s t e m s s t r a t e g y f o r p o r t a l l e a d s s h o u l dva r y w i t h m a t u r i t y a n d b r a n d a w a re n e s s .
Personal Services
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PERCENTAGE OF LEADS BY PORTAL
Top 10portals
generating the most
leads
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DEALS BY PORTAL
Top 10portals that generated the most
sales
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Entrepreneur generated the most deals in 2018.
Franchise Sales Insights – Personal Services Brands
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CONVERSION RATE BY PORTALHubSpot Opportunity provided the highest quality leads in 2018.
The key is to invest in Portals that are proven to close at/above your current closing averages.
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Part 4: BrokersB ro ke r s p ro v e d i n 2 0 1 8 t h a t t h e c a l i b e r o f l e a d sc o n v e r t a t s o m e of t h e h i g h e s t l e v e l s e a r n i n g t h e m ap l a c e i n m o s t b r a n d t o o l k i t s .
Personal Services
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TOP 5 LEADS & DEALS BY BROKER
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LEAD TO DEAL RATES BY BROKER
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FranServe and IFPGprimarily serve the emerging brands
market.
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Part 5: Initial ContactD o y o u k n o w h o w y o u r i n i t i a l r e s p o n s e t o l ea dsi m pa c t s y o u r s a l e s e f f e c t i v e n e s s ?
Personal Services
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TOTAL LEAD-TO-DEAL TIME
Days from Inquiry to Close
• Improvements YOY saw averagedecrease from 236 days to 188 days
• The lead-to-deal time for franchisors in Enterprise market slightly increased in 2018.
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DEAL PERCENTAGE BY RESPONSE TIME
Speed to the lead is no longer an option.
• On average, franchisors who made initial contact within 4 hours of receiving a lead closed 84.8% of all deals.
• Close rates significantly decline if initial contact is made after 4 hours.
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Part 6: Funnel Management
D a t a s h o w s t h a t t h o s e t h a t e n t e r t h e t o p o f t h ef u n n e l n e v e r r e c e i v e a c a l l , a n d t h o s e t h a t d o areo f t e n c o n t a c t e d t o o l a t e .
Personal Services
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Over 55% of Personal Services franchisors FAILED to make any initial contact with prospects.
Many franchisors complain about the lack of quality leads. Our data makes the formidable argument that issue is more likely the failure to follow-up.
PERCENTAGE OF LEADS THAT RECEIVED NO CALLS
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Poor data hygiene has a tremendous and negative impact on the accuracy and trustworthiness of your data.
ACTIVE & DUPLICATE LEADS
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T h e ke y t o a h i g h c l o s i n g r a t e i s t o a l i g n a n d e xe cu t ec o n t i n u o u s m a r ke t i n g a n d c o m m u n i c a t i o n a c t i v i t i e sa t e a c h s t a g e o f t h e s a l e s p ro c e s s .
Part 7:Nurturing Candidates to Closure
Personal Services
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BRANDS WITH CAMPAIGNS BY STAGE
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LEAD DROP-OFF STAGELead drop-off’s on New Lead Status decreased from 63.3% in the previous year to nearly 56.6%.
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LEAD DROP-OFF REASON
No Responseincreased from 41.8% in the previous year to
51.1% in 2018.
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APPLICATIONS BY SOURCELeads generated from Websites had the highest application conversions then any other lead source.
Top 5Sources forleads whosubmittedapplications
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TOP 5 LEAD-TO-APPLICATION RATIOSBrokers generated the highest lead-to-application ratios in 2018.
Are you asking for too much
information to early in the sales process?
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