Doron Straus | Corporate Trainer – Business Alliance, Inc
A critical aspect in developing and growing your franchise brokerage business is having the ability to articulate effectively, clearly, and succinctly what it is that you do. Whether you are introducing yourself to a potential candidate, speaking to your networking club, or simply making small talk literally on an elevator to someone, you need to be ready to explain what it is that you do, at the right time, when someone asks you! An “elevator pitch” can be small but mighty!
A networking event can be an effective way to meet others that share a goal of getting a lead from someone who may become a prospective franchise buyer. How are you going to introduce yourself in that situation? It is often intimidating to sell yourself to someone you just met. To prepare for such a situation, an “elevator pitch” is what you need. The term “elevator pitch” comes from the fact that the average elevator ride is 30-45 seconds long! Of course, there are elevator rides that take longer, say, 60 seconds if you’re going up to the Skydeck at the Willis Tower in Chicago (103 floors), or to the top of the Washington Monument in DC (500 floors at 70 seconds), or 10-15 minutes to the top of the Eiffel Tower (a long elevator pitch indeed!). Don’t forget that a pitch can go beyond face-to-face conversations. It’s great for online interactions as well. It can also make a great introduction snippet for LinkedIn connections or online job boards. An elevator pitch is a brief way to introduce yourself, relay your point and, hopefully, connect with someone in 30-60 seconds!
The main points in an elevator pitch should include:
1. What do you want that person to know or remember about what you do?
2. Who are you, as a professional, as a franchise consultant?
3. Who are you looking for or who’s problem can you solve?
a. Someone in a career transition.
b. Someone who wants to put their adult children into a business.
c. Someone who is interested in purchasing a franchise as an investment vehicle.
d. Someone who is looking for a side-hustle.
e. Or whoever your ideal candidate might be. Name them!
4. Remember to state the problem that the “listener” may be interested in. How am I going to find a business that is right for me?
5. What solutions do you offer that may be a benefit to them? Remember that the “listener” will want to hear, “What’s in it for me?”
6. Reinforce your skills and expertise and state, specifically, how can address the problem. What is unique to you based upon your experience and background that sets you apart. How can you add value?
Remember your audience when creating your pitch. It’s okay to have more than one pitch for more than one circumstance (1-on-1, weekly networking club, a Chamber of Commerce event, meeting someone in the grocery store, etc.). Do not be afraid, however, to repeat the same pitch to the same audience multiple times. We all know that people need to hear things several times before it sinks in! Keep your pitch to 80-160 words or less, with 30-60 seconds as a goal. Don’t talk about yourself, it’s not all about you! Always include some kind of call-to-action that you would like your audience to take at the end, maybe with a follow-up on LinkedIn or through an email.
A good practice would be to make a video elevator pitch for your LinkedIn profile, your website, auto-response emails, and text messages, or anywhere else that it makes sense to deliver a quick explanation telling people what it is that you do. Having a written and video pitch will have you set for any situation, whether online or face-to-face!
Here is just one example to consider:
As a franchise consultant, I utilize a simple and efficient system to help people who are interested in becoming a business owner explore franchise opportunities. The first step is understanding the skills, needs, desires, and financial capabilities of the individual and then matching them with several franchised businesses that are available in their territory and align with their goals. Just about everyone dreams of being the boss, and owning their own business, which is why people who are in a career transition benefit from these services. We use an easy and organized approach to identify the right franchise investment and open the doors of entrepreneurship to them. You can sign up for my newsletter to learn more at abcfranchise.com.