10 Questions to Ask Yourself Before Going it Alone in the FSBO Business

Have you ever built a business before?

  • It takes a lot of time and is especially hard to do alone.  Tony and Justin (FSBOFox owners) spent thousands of hours building FSBOFox to the point where it can be run in any market by an individual working part time.  Let FSBOFox focus on new site features and developing marketing strategies while you concentrate on your customers.  An internet business is not as simple as tossing a site online and photographing houses when people call.  Tony and Justin meet every week, talk marketing strategy and ideas for the site and with each meeting come away with a list of items to work on.
  • As a FSBOFox franchisee, you will be part of a team.  Our goal is to speak regularly with each franchisee and find ways to improve the overall company as well as your market.

How much time and money is it going to take to establish a brand?

  • Have you looked into domain names and what is available?  Most anything with the word FSBO in the title is taken and you may have to pay a premium to someone that already owns the domain name to get a good domain name.  That is what we had to do with FSBOFox.com.
  • What about a logo, color scheme and feel of the company?  How long is it going to take to develop that and what are you going to have to pay for it?
  • Once the branding is complete, what if it isn’t effective?  Are you going to spend thousands more to rebrand yourself?

What’s it going to cost to setup a website and will it have all of the below features that FSBOFox has spent thousands of hours developing?

  • Self Service: ability for customer to create own listing themselves
  • Printable Flyers
  • Built in maps and mortgage calculators
  • Integration with Craigslist, Facebook, Twitter and over 20 other sites
  • Open House Calendar
  • Shopping Cart Checkout
  • Email Notifications for buyers on new properties
  • Favorites: ability for buyers to save properties to a favorites list.
  • Page View Counts: so sellers can see how many views their property has had
  • Photo Slideshows
  • Sharing Tools
  • School and Neighborhood Profiles

Who is going to maintain your site and ensure that it keeps up with technology?

  • Technology and features change.  If we do nothing to the FSBOFox website, it will be completely out of date within 3 years.  We are constantly adding new features to the site that you will get for your site for free.  Going it alone, you would have a hard time keeping up with technology.  You have to first know what the latest and greatest is in order to add it to your site, and then pay someone to add those features which will cost thousands of dollars.

What marketing strategies are you going to use and how much are they going to cost?  How do you know what is and isn’t effective?

  • We’ve spent a lot of time and money figuring out what does and doesn’t work.  There are cost effective strategies we have developed with proven results.
  • We have developed letterhead, business cards, radio jingles, email marketing programs, flyers, postcards, yard signs and much more.  All of which you would have to pay someone to design going on your own, but you will have at your fingertips for free using FSBOFox.
  • Once these items are designed, who is going to print them?  How much time are you going to spend pricing out the cheapest option?  We’ve already done this work and continue to come up with new marketing ideas.

How much is it going to cost to form a company legally and put together the necessary documents (terms of service, privacy policy etc)?

  • Lawyers aren’t cheap.  FSBOFox has taken care of this all already.

What questions are customers going to ask and how do I answer them?

  • We have been asked them all and can coach you on the answers as well as how to approach different circumstances you will find yourself in.

How are customers going to find your site?

  • Do you understand search engine optimization and pay per click advertising?  Are you going to have the time to put into this?  FSBOFox can take care of a lot of this work for you and coach you how to do the rest.

Will you have time to write Buying and Selling articles for your customers?

  • Your customers are going to crave this information.  Legally you can’t copy and paste from other sources.  Writing and posting this information takes not just time but expertise.  With FSBOFox, you’ll automatically have this information on your site as we add it.

If a Subway and Joe’s Sub Shop open right next to each who’s most likely going to do better?

  • The Subway owner has a national company behind it.  He’s not learning on his own and is not going to make the mistakes that the owner of Joe’s Sub Shop does.
  • Customers know and trust the name Subway.  They will have to learn to trust Joe.  This is amplified 10x in an online business.  People are especially skeptical of online businesses.  With FSBOFox, you will be able to show your customers from day one that you are a company with proven results.  Our testimonials are your testimonials.

Are you going to be able to compete when someone else opens a FSBOFox franchise in your area?

  • Our goal is to build a national brand.  We believe if we build the brand, our profits will come later.  We believe strongly that it is not a matter of if, but when, we go into each market we target.
  • In the initial market FSBOFox launched in, we launched on March 1st 2011.  Come November 1st 2011 we’ve had over 150 listings.  That’s right, in just 6 months we built it from a non-existent business to one with 150 active property listings.  Also consider the fact that the market we launched in had 4 other competing FSBO websites, three of which had been in business more than 10 years.  To get to 150 listings, we had to steal a lot of market share in a short time.  We project even higher listings totals in year two as our brand becomes more established in the area.

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