Continuing with our series of franchising terms and definitions, today we’re talking about Advertising Portals.
Advertising portals are areas online where franchisors can pay to advertise their franchise to potential franchisees. The strength of advertising on franchise portals is getting franchisees to take a look at franchise concepts that they normally never would have considered.
There are a lot of advertising portals and lead generation websites on the Internet. Franchise Gator and Franchise Direct are two of the more popular and well-known franchise advertising portals. They are a great place for people to explore different franchise opportunities and get an idea of what might be a great match for them.
But, just like with most things, there are pros and cons.
THE PROS
On the positive side, a franchise portal is a great place to explore all the many different industries that offer franchise opportunities. They’re great places for people to discover franchise opportunities that they may never have known about. Someone might have an idea of the industry where they would like to look for franchise opportunities, only to change directions after exploring different options on a franchise portal.
Another advantage to franchise portals is time efficiency. Prospective franchise buyers can visit a franchise portal and submit their information, and have multiple franchises contact them about their business opportunity.
CONS
On the negative side, franchise portals can be overwhelming, and hard for prospective buyers to find the franchises that will be the best fits.
Another negative is some franchise portals will give their visitors’ information to a lot of different franchises, and the prospective buyer gets inundated with solicitations they may not have wanted.
A third negative trait of advertising portals is a potential lack of expertise. Franchise portals are great for exploring, but might not be the best way to narrow down their choices. A franchise consultant, for example, can help get to know the prospective buyer and their background, and help to pair them with the franchises that best suit their abilities and give them the best chance for success.
If you have any questions about starting a new franchise, or growing your existing franchise to the next level, give us a call. We would be more than happy to help. We offer a free initial consultation.
