At Murphy Business, one of the first questions we get about our franchise opportunity is how a business broker franchise can attract its first clients.
It’s a question we’re happy to answer. While independent business brokers often struggle to develop a client base in the early going, things are different with a Murphy Business franchise. We give our franchisees the tools and training they need to both generate qualified leads and convert those leads into clients, even as you’re just getting started.
If you’re thinking of purchasing a business broker franchise, it’s worth taking a closer look at how Murphy Business Brokers land their first clients. Below, we’ll examine the blueprint that franchisees use to attract their first clients and build their brokerage business.
Lead Generation for Your Business Broker Franchise
Ask almost any independent business broker, and they’ll tell you that generating leads is one of the toughest aspects of their business. This is especially true in the early going. Once established, you can generate new clients through referrals. But in the first few months, you’ll need to market yourself aggressively via cold calling, direct mail, social media, and peer-to-peer networking.
If you purchase a business broker franchise with Murphy Business, you’ll have a big head start on this process. When you purchase a franchise and complete training, we immediately launch a dedicated lead generation campaign for your franchise territory.
We will research your territory and start identifying small and mid-sized businesses that we believe are strong candidates for a business sale. Our marketing team will give you the resources, materials, and systems you need to pursue the candidates on your list.
Your marketing strategy will start with a direct mail campaign. While highly effective, direct mail campaigns can be cost-prohibitive and difficult to manage for independent brokers. Not so with Murphy Business. We provide easily customized direct mail marketing materials, along with time-tested systems for managing and tracking your direct mail efforts.
After your direct mail campaign, we will follow up these efforts through phone marketing. Murphy runs a dedicated telemarketing operation to assist our franchisees with lead generation. This allows you to focus on other aspects of your business, increases your chance of converting leads into clients, and gives your firm a more polished professional image.
Converting Leads to Clients for Your Brokerage Agency
Our lead generation program will give you a significant head start. What you do with that head start is entirely up to you.
Converting leads into clients can be a challenge for many first-time business brokers. As a broker, you’ll need to project confidence, present yourself as an expert, and demonstrate your value to business owners.
A background in business management and entrepreneurship can do wonders at this point in the process. It shows that you understand your clients’ concerns and helps you foster a strong relationship. This is one of the biggest reasons why we require business management or ownership experience from our franchisees.
Murphy Business Broker franchise owners also undergo rigorous training, which allows them to demonstrate their knowledge about the brokerage process. To augment this knowledge, we provide our franchisees with extensive one-on-one support through our regional directors, all of whom boast years of business brokerage experience. This way, you can easily navigate the challenges of your first valuation and sale.
As the owner of a Murphy Business Broker franchise, there are other ways to demonstrate your value and set yourself apart from other business brokers.
- Many business brokers approach their work as a side venture, dedicating most of their time to a separate job. Murphy Business Brokers approach their work on a full-time basis, which helps them earn their clients’ confidence.
- Our valuation services play an important role in business sales. An accurate valuation can help your client sell their business more quickly. If a client is underwhelmed by their valuation, you can help them identify strategies for increased business value.
- Murphy Business Brokers develop custom marketing campaigns for their clients, including bespoke promotional materials to help demonstrate the value of businesses for sale. Our promotional materials will help you capture full value for your clients.
- As a Murphy Business Broker, you will have access to some of the largest brokerage networks in our industry. This allows you to reach a larger, higher-quality pool of business buyers.
Ultimately, the success of your business broker franchise will come down to the relationships you build with your clients. But as a member of the Murphy Business Broker franchise network, you’ll have the resources and support you need to kickstart your growth trajectory.
Learn more about Murphy Business Broker franchise opportunities today by calling (727) 725-7090!