Our recommended starting lead volume of 100 leads for a 3 month term is set up to support the notion that it can take a few hundred leads to make a sale.
In short, in depends. What’s your follow up process like?
Now, the industry average is about 300-500 top-of-funnel online leads (like ours) for an effective and experienced franchise sales team to close a deal. That means an investment of about $10,000 per deal. Anyone who tells you differently is either misinformed or selling something.
It's also important to understand the concept of lead quality. Good quality online leads take a few hundred leads to make a sale - that's because they're at the top of the funnel, not because of any quality issues. We put a lot of effort into getting you the best quality leads we possibly can, so that you can close as many deals as possible. But we won't promise you a close rate of 1 in 100, because that would be setting us both up for failure.
We've previously written about why the myth of lead quality is so pervasive, and how franchisors can better evaluate franchise leads. Lead quality is a super nebulous concept. We talk about it all the time in the franchise industry, but there’s not really a good definition of what it means.
For additional reading, check out: The Myth of Quality -- How To Better Evaluate Franchise Leads