Deck 6: Selling Franchises and Marketing Research

Question 1

Why do most franchisees choose to go into business with a franchised company?

A)a successful franchising operation would satisfy some of their wants and desires.
B)they have finally decided to try something "on my own."
C)they are seeking a change in their life.
D)all of the above.

Answer 1

D
Typically,the prospective franchisee is seeking a change in their life;otherwise they would not be seeking to obtain a new business on a full-time basis.Most successful franchisees are individuals who have finally decided that they wish to try something "on my own." They have needs,wants,and desires which can be satisfied by a successful franchising operation.They have a strong interest in the product or service which the franchisor is offering.

Question 2

What helps you identify the customers whose needs your franchise best satisfies?

A)target marketing
B)marketing research
C)inquiries
D)a professional approach to sales

Answer 2

A
Target marketing is a simple,planned approach used to identify the prospective franchisees and customers whose needs can best be satisfied by your franchise

Question 3

How much of successful selling consists in simply listening to the prospective buyer?

A)5%
B)25%
C)50%
D)80%

Answer 3

C
It is estimated that 50 per cent of successful selling is listening

Question 4

What is the key to convincing someone to purchase your franchise,product,or service?

A)features
B)personality
C)experience
D)benefits

Question 5

Franchisors often determine a franchisee's likelihood of success by looking at two things.What are they?

A)personality and experience
B)personality and financial net worth
C)experience and knowledge of the franchise
D)knowledge of the franchise and financial net worth

Question 6

What's the difference between the sales package and sales playbook?

A)the sales playbook consists of three parts,and the sales package consists of five parts.
B)the sales brochure and ufoc are part of the sales playbook but not the sales package.
C)the mission statement and opening benefits are part of the sales package but not the sales playbook.
D)the sales package is used by the franchisor to give a prospective franchisee a good sales presentation;the sales playbook helps the salesperson sell to customers.

Question 7

How might you describe the professional approach to sales?

A)talks 70%,listens 30%
B)pushy
C)customer oriented
D)faster

Question 8

Which of the following is true about the serious prospective franchisee?

A)he/she is not looking to start the franchise as soon as possible.
B)he/she is very straightforward about his/her interest,availability,and financial resources.
C)he/she is cautious about disclosing his/her intentions.
D)his/her time frame generally increases as his/her interest level increases.

Question 9

What is a realistic number for a sample size when doing market research?

A)50
B)300
C)500
D)1,000

Question 10

Which of the following is NOT one of the four P's of selling?

A)power
B)pleasure
C)profit
D)practice