The one thing very few franchisors talk about on their franchise sites is the rough number of leads needed to make your sales target for the year. Raison home are different, we discuss these things in the initial calls that we have with potential candidates.
Since the start of Raison Homes franchise journey, back in 2000 we have developed and monitored our concept closely and part of that is tracking all available data around the sales process. We are now in 7 countries with over 120 franchisees, meaning that we can take all that data and work out the average conversion rates of everyone. Hence, you know what you need to achieve your business goals
Thanks to this information, we can help and train our franchisees better to make sure they understand their own goals and what I roughly needed to achieve this. This information can be used to form almost all aspects in the business – from lead generation to marketing, with all of it aimed at those key numbers.
So what does this look like?
To do the maths for this we need to make a few assumptions, the main one being the average price of a kitchen – which in the UK is approximately £15,000.
Say for your first 12 months of business you want to do £195,000 in sales, with an average kitchen price of £15,000 that would be about 13 sales over the course of the year. We know that the Average conversion rate between quotes and sales is about 40%, which means that you need to do about 33 quotes; from there we know that the average conversion rate of leads becoming quotes is about 49%, so you would need about 66 leads over the course of the year. I’ve broken it down a bit clearer below;
This is only scratching the surface, during training we will go more in depth into this analysis and how to develop your profile and target the correct leads for yourself.
If you are interested and want to ditch the 9-5 rat race. Fell free to contact Mark Sewell, Head of business and partnership development.
*All of this is based on averages, and to give advice only, these are not guaranteed results. Building a business is a lot of hard work and requires a lot of drive and dedication. The only way to be truly successful is to put the effort in. As you are building your business your results are likely to be different depending on several things including; goals, action plan and dedication.