Finding the right investors for one's business can be an arduous task. Between meetings, presentations, and coming up with the best ways to market a concept— an operator can be left exhausted at the end of the day and sometimes to no avail.
One way to find investors to buy into your franchise is to start investing in your business yourself.
While there are many ways to help your business grow, like investing in your company culture, hiring the right kind of team, and improving the product quality of a business— when it comes to scaling, things can get tricky.
One effective way to get the attention of people with the big bucks is by creating attractive franchise incentives and limited-time offers that investors simply can’t resist.
A good example of this is currently being rolled out by Nestlé Toll House Café by Chip, which recently announced a “Buy 3 Get 2 deal,” along with 50 percent off franchise fee in 30 regional malls.
“Our brand is growing rapidly from coast to coast and we have been asked multiple times for special pricing consideration from multi-unit franchise candidates,” said Ziad S. Dalal, President of Crest Foods, Inc., the franchisor of Nestlé Toll House Café by Chip in a recent press release. “We decided to make this limited-time offer in response to those requests, and we’re looking forward to signing several new deals.”
The limited-time offer will last almost two months, ending on September 30. Also, for each of the cafés that open through the program, there will be an initial 90-day royalty-free period.
Something else that makes this incentive irresistible is the fact that the offer even applies to ownership transfers of existing cafés and re-openings of closed stores. This way, current and new potential franchisees have a chance to benefit from these potential profits, while expanding their businesses and increasing their ROI in the long run.
Another example of a good incentive to recruit franchisees is the 50 percent reduction in the franchise fee. Currently, the dessert destination concept is slicing the payment in half, from $30,000 to $15,000 to open cafés in 30 malls across the United States by the end of 2017.
It’s not the first time we see this kind of incentive being offered by the company. Nestlé has recently offered this incentive as an on-going military discount to show its support for retiring U.S. military Veterans.
This brings us to our last piece of advice. If there is a cause you want your brand to support and stand behind, embrace it. Incentives like above can be a cross-effective way to achieve that. Just be creative!
At the end of the day, if you are not willing to invest in your concept, then who will?