With over 3,000 franchises in the market, how to find the right one for you? This is how a Franchise Consultant can help.
You might have recently started looking into investing in a franchise, and with over 3,000 franchises in the market, the big question you find yourself asking is: which one is the right one for me?!
A Franchise Consultant is an expert in the franchising industry who is constantly trained by franchises on their business models and is always up to date on what is going on in the franchising industry. Furthermore, they understand nuances about the industry that you can’t find on the internet, such as: what types of franchise arrangements are best for each client? Which franchises have a great support team and systems in place to help new franchisees be successful? What emerging models are hidden gems in the franchise market, that pose great opportunities for the investors?
Here is a summary of the main reasons to work with a Franchise Consultant:
- Get insider information not available on the internet.
- Receive advise from an industry expert.
- Find out about hot industries and emerging brands, before everyone else.
- Avoid costly mistakes.
- Learn the right parameters to look at and how to properly compare opportunities.
- Get help finding the right franchise that value your skill set and for your situation.
- Get preferential treatment from franchisors. While hundreds of people are inquiring about a franchise every day, a consultant can get you to the ‘top of the list’ putting you in direct contact with the founder or Franchise Development Director.
- Get educated on franchise funding / financing options and get access to funding partners who can enable your investment.
- Uncover the hidden gems in the franchise industry, such as franchise arrangements that can help you build wealth!
- There is no cost to you to use a Franchise Consultant service and advise, so why not have a partner helping you make the best decision?!
A little more about Franchise Consultants:
- They act as “recruiters” for the franchises and help them find qualified individuals to join their networks. Just like a recruiter for a job position, but with focus on business instead. They are paid by franchises (like recruiters are paid by employers) for helping them find the best partners for their systems, so they don’t charge their clients who are looking into business ownership for the consultation.
- They are business matchmakers. At the same time they help franchises find the right business partner, they help aspiring business owners find the best franchises for their situation, by following a structured process:
- 1) Business preferences assessment (they want to understand your background, skills, motivations, personal and financial goals, budget, so they can personalize a list for you);
- 2) Franchise Selection: they will select the best franchises for your situation, that meet your budget, will leverage your strengths, and will help you achieve your goals.
- 3) Franchise Presentation: they will present and explain to you the selection and why they think specific franchises might be a good fit for you.
- 4) Franchise Investigation: they will help you investigate the franchises, and coach you in order to help ensure you are looking at all important aspects and asking key questions, so you can be fully informed before you make an investment decision.
What makes a good Franchise Consultant?
A good Franchise Consultant will always have their client’s interest as their main focus. They will listen to you and understand what you are trying to achieve, and will build the franchise selection with that in mind. They will work in partnership with you throughout the entire process, from the very initial conversation, all the way until you are ready to decide (even if you decide not to pursue the investment). Finally, they will always be very ethical and transparent with you.