When I first started working and consulting with franchisors, I was a little bit surprised by how little statistical modeling was used to help identify potential franchisees. I had used the statistical modeling approach throughout my career. For example, when I was the Vice-President of Sales at Home Shopping Network, we regularly used past behavior to help predict what people might buy in the future. In a marketing position previous to Home Shopping Network, I used modeling to help improve conversion rates of catalog mailings. I have always had pretty good success using statistical modeling to help guide my decision-making. So, I wondered why not apply this same approach to help identify potential franchisees?
I decided to write this White Paper to give you valuable insight into my experience designing predictive models to help create databases of potential franchise prospects. Did I lose you? Don’t panic, there is no math involved. In this White Paper I share a few stories regarding how math was used to help predict who would purchase a franchise. I also touch on the trials and tribulations of developing what has been rarely done in franchising – using statistics to identify past behavior and using that information to help predict the future.
For your free download, just click on the link below.