CFA members share insight into key strategies for exhibiting at franchise trade shows

Are you creating a great booth experience? Is your exhibiting team inviting and 100 per cent engaged? Are you digitally capturing your lead data? Are you following up with and nurturing your leads? In a recent CFA Learn & Grow webinar, Mackenzie Allsop of Cadence Franchising, Tracy Woods of Oxford Learning Centres, and Jenna Caira of Laser Clinics Canada shared insight into how to exhibit at tradeshows as part of a well-balanced lead generation strategy for franchisors, including tips on best practices and KPIs to track.

Tradeshows can be a valuable opportunity for franchise systems to connect with potential franchisees and generate leads. However, it’s important to approach tradeshows strategically to maximize your investment. In this article, we will highlight some key points from the CFA’s Learn & Grow webinar “Learn Learn How to Maximize Your Franchise Tradeshow Investment,” originally held on January 24, 2024.

Leveraging the experience of your team
When attending tradeshows, it’s important to remember that you don’t have to have all the answers. If someone asks a question that you don’t know the answer to, don’t be afraid to admit it. Instead, leverage the experience of your team and direct the attendee to someone who can provide the necessary information. This shows honesty and transparency, which can go a long way in building trust with potential franchisees.

Politely cutting off lengthy conversations
At tradeshows, it’s not uncommon to encounter individuals who monopolize your time with lengthy conversations. In order to politely cut off these conversations and move on to other potential leads, you can use phrases like, “You know what, I don’t know that we have time to really get into that today. But let me grab your information. We’ll follow up and have a further conversation.” This shows that you value their interest but need to prioritize your time at the tradeshow.

Handling questions about earnings potential
One of the most common questions exhibitors receive at franchise tradeshows is “How much can I make?” It’s important to handle this question with caution, as franchising laws in Canada are strict when it comes to sharing financial information. Instead of providing specific earnings figures, you can explain that detailed information will be provided in the franchise disclosure document (FDD) and that the application process will allow for a deeper discussion on earnings potential. Emphasize the importance of making an informed decision and offer to guide them through the application process.

Balancing booth presence and attracting the right leads
Creating a memorable and compelling booth presence is important at tradeshows, but it’s equally important to attract the right kind of leads. While gimmicky tactics may attract attention, they may not necessarily attract the right people who are genuinely interested in becoming franchisees. Keep your booth simple and focus on showcasing your brand and its value proposition. Consider the type of leads you want to attract and tailor your booth experience accordingly.

Assessing the effectiveness of your booth experience
After the tradeshow, it’s crucial to assess the effectiveness of your booth experience and identify areas for improvement. This can be done through reflection with your team and by analyzing the data collected in your CRM system. Pay attention to the lead sources and track their conversion rates over time. If certain leads from the tradeshow are not converting, evaluate whether it was due to the booth experience or other factors. Use this information to make data-driven decisions and improve your booth experience for future tradeshows.

Networking with industry stakeholders
Tradeshows provide a valuable opportunity to network with industry stakeholders. Building relationships with other brands and professionals in the franchise community can be beneficial in many ways. It allows for knowledge sharing, collaboration, and potential partnerships. Take the time to connect with other brands and individuals in the industry, both during the tradeshow and through platforms like LinkedIn. Engage in conversations, leave informative comments on posts, and foster relationships that can lead to future opportunities.

Efficient planning and packing
When exhibiting at tradeshows, it’s important to plan and pack efficiently. Arrive early to ensure everything is set up properly and take advantage of the pre-show time to network and connect with other exhibitors. When it comes to packing, consider the size and weight restrictions of your luggage. If possible, pack materials and displays in a way that allows you to carry them with you on the flight, saving money on shipping costs and ensuring they arrive on time. Alternatively, if you have a smaller booth, consider shipping your materials to a local centre ahead of time and pick them up when you arrive.

The bottom line
Tradeshows can be a valuable opportunity for franchise systems to connect with potential franchisees and industry stakeholders. By leveraging the experience of your team, balancing booth presence with attracting the right leads, assessing the effectiveness of your booth experience, and networking with industry stakeholders, you can make the most out of your tradeshow experience. Efficient planning and packing also play a crucial role in ensuring a successful and stress-free tradeshow. Remember to continuously evaluate and improve your strategies based on data and feedback to optimize your future tradeshow experiences.

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Visit www.cfa.ca/education/learn-and-grow-webinars/ to learn more.