Challenge the Pros
Challenge the Pros
How do you qualify leads early in the funnel to avoid wasting resources on poor fits?
FRED FREY
VP of Franchise Development 16 Handles
For me, the most important step in qualifying franchise leads is speed. The longer you let a lead sit, the colder it becomes and the harder it is to know if you’ re dealing with a serious candidate. I make a point to reach out right away. On that first call, I’ ll either set up a deeper meeting or, if time allows, walk through the main questions with them then and there.
My priority in that conversation is listening. I want to hear their background, their professional experience, how they first heard about our brand, and what markets they’ re interested in. Those details immediately give me a sense of whether the candidate could be a fit. If something doesn’ t line up, whether it’ s capital, territory, or overall expectations, I don’ t hesitate to cut the call short. That saves both sides from investing time unnecessarily.
Another filter comes before we even get on the phone: We build qualifiers directly into our lead forms. Candidates are asked about their net worth and liquidity up front. If they clearly don’ t meet those requirements, that prevents us from spending time chasing conversations that won’ t work out. For those who do meet the thresholds, I verify the information during the first call and again in their application.
That application step is critical. I don’ t send out our FDD until the candidate has completed the form. Having them take that extra action shows they’ re serious enough to put in the effort, and it gives me a much fuller picture of their financial capacity, goals, and interest level. It also creates a natural checkpoint in the funnel. If someone isn’ t willing to complete an application, they’ re not likely to follow through on a long-term commitment like owning a franchise.
By moving quickly, asking the right questions, and requiring small commitments along the way, we can separate casual inquiries from serious prospects. That way, our time and resources are focused on the candidates who have both the capability and the genuine desire to grow with our brand. •
56 | Franchise Update | Issue 4, 2025