Question

Topic: Strategy

How To Market A Business

Posted by lofosgemeente on 1/11/2018 at 5:37 AM ET 250 Points
I started a Company four years ago, presenting Workshops on various topics, presented mostly by myself. The workshops are aimed at the Hospitality Industry, Leadership, Management, and also include various Soft Skills.
The business has been very successful, in some subjects Workshops training was presented to nearly 4000 students.
A year ago I took up an appointment that does not afford me the time to continue with the Workshop business. I appointed various people at different times to present the Workshops, for which the following was discussed and agreed:
1. The business would be run as a franchise WITHOUT the person having to buy into the business. (No capital needed)
2. The person will find clients, book them, deposit their fees into the business account. Study material and PowerPoints would then be sent to the person to be used for the training.
3. After the costs of printing the material and the dispatching thereof has been deducted, the profit would be shared on a 50/50 basis
4. I have even agreed to give a person a specific exclusive region
5. I have had various inquiries regarding the proposition in other areas, but do not hear from prospects again after submitting the agreement to them
6. When I presented and ran the Workshops there were always opportunities, yet, the person was not successful in landing ONE deal.
I trust the Product, know of its quality and value, but cannot seem to land a deal.
Your valued comments will be appreciated!
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RESPONSES

  • Posted by aeziontec on 1/11/2018 at 7:26 AM Member
    Marketing the business in many strategies like on-line and offline in on-line SEO, PPC, email promoting and offline directly interacting with client
  • Posted by Jay Hamilton-Roth on 1/11/2018 at 8:15 AM Member
    Are workshop attendees requesting repeat workshops or generating great leads for additional attendees? Is the material you previously presented dramatically better than your competitors'? How would someone even know about your workshops if they are not actively marketed? The bottom line is that you're asking someone to use your material but do all the work of attracting customers and giving them half of the profits. Wouldn't they be better off developing their own material and keeping 100% of the profits?
  • Posted by Mike Steffes on 1/11/2018 at 10:37 AM Member
    This says it all: "I have had various inquiries regarding the proposition in other areas, but do not hear from prospects again after submitting the agreement to them."
    You've listed a lot of features. Those features do exist. The potential customer sees too little benefit though. You must either create more compelling benefits or do a better job of making clear the benefits that exist.
  • Posted by mgoodman on 1/11/2018 at 12:12 PM Accepted
    Mike and Jay have identified the problem: Your prospective franchisees don't see an attractive opportunity as you've presented it. Either they think they deserve more than 50%, or they want you to share the risk/investment with them. Or you may not have presented the proposition to them in a persuasive way.

    You are assuming the content (your contribution) is as important to success as the marketing (that they would have to do). But the content is done; no additional work required going forward. The Marketing effort is ongoing; the risk is all wrapped up in the effectiveness and efficiency of the Marketing.

    I'm not so sure the deal you are offering is fair to your target audience. That's the problem. I have delivered seminars and could be in your target audience, but the 50/50 split would turn me off if I'm expected to take all the risk.
  • Posted by lofosgemeente on 1/12/2018 at 4:20 AM Author
    Thank you for each one who sent info. I will use the info to rework the proposal and the profit sharing system. Again, many thanks!
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