5 Reasons to Work with a Franchise Consultant
Partially excerpted from Franchising Without Fear by Trish Benedik
When making the life-changing decision of purchasing a franchise, it is essential to obtain advice from professionals before making a final decision.
The first and best decision is to work with a franchise consultant
Deciding to work with a franchise consultant is the first and best decision to make. Particularly, since they have the knowledge to help you make an informed decision.
Find a franchise that suits you
Similar to a realtor that assists in finding a home for your family; a franchise consultant assists in finding a franchise that suits you. You would not want to move into a strange city without the help of professionals, and you should not want to choose a franchise without professional help either.
Franchise consultants are affiliated with professional organizations
Franchise consultants are registered or affiliated with various organizations such as: BAI (Business Alliance, Inc.), FranNet, FranServe, FranChoice, IFPG, or Entrepreneur’s Source.
Franchise consultants are industry experts and have gone through wide-ranging training programs in all areas of franchising. In addition, many consultants have franchise experience.
These professionals spend countless hours studying the industry, getting to know the franchisors, and keeping abreast of current trends. Utilizing this knowledge can prove invaluable.
Priceless insight into your business search
Working with a franchise consultant, also known as a franchise coach, advisor, specialist, or broker, will provide you with priceless insight into your business search.
Not only will they help you limit your choices to a good fit, but you will also save time, money, and aggravation. Their proven methodical processes will help you choose the franchise that is right for you.
Here are 5 reasons to work with a franchise consultant:
- Narrows your choices. Your franchise coach will help you create a personal profile and narrow your options to businesses that will meet your goals and aspirations.
In addition, they will check for territory availability before presenting you with options. Why waste time researching franchises that are not available to you? A franchise consultant will make sure your time and energy are spent on the opportunities that are worthwhile to you.
2. Insider knowledge of franchises. A franchise consultant has knowledge about franchisors’ financials, validation process, systems, support, training, and more.
First to know about Emerging Brands
They are some of the first people to know about new, emerging brands. Although some of this information is protected and not to be disclosed, they can help steer you in the right direction.
3. Franchise consultations are typically at no cost. Most franchise consultation services cost you nothing. Franchise consultants are retained by the franchise companies to present candidates who possess the qualifications necessary to be successful. The consultant is typically paid on commission, similar to a realtor. Therefore, they will want you to find a business that works for you.
4. Knowledgeable about funding options. Franchise consultants have knowledge about the various funding options and can assist you with resources of funding for your franchise. Resources include 401K rollovers and SBA guaranteed loans.
5. Connections with the right people. During your consultation, you will be introduced to the franchisor that can make your dreams a reality. While making these business introductions on an individual level may be a challenge, with a consultant’s help, building this business relationship with a high-level franchisor is much easier.
Save time and frustration–work with a professional franchise consultant
Eliminate the guesswork and save yourself time and frustration by working with a professional franchise consultant. They will take an unbiased look at your interests and create a detailed profile based on your preferences. Also, they will provide a great deal of information and guidance through the franchise investigation process.
Working with a franchise consultant will give you alternatives you may not have considered, providing you more chances to make the right choice.
Contact Trish to assist you in your search for the perfect franchise fit.
We work with over 600 franchises in more than 70 industries. There are endless possibilities for finding the freedom you’ve been dreaming about. From investment opportunities where you only need to work a couple of hours a month, to full time owner operator, choose the option that suits you.
Looking for a business that is easy to operate in one niche market or are you ready to build an empire with multiple territories there is an option for you.
Keep following my Blog for more insights into franchising. Owning a business is about matching your skills with the right business. My 6-step process will guide you to the right franchise and introduce you to exciting opportunities.
What are you waiting for?
Trish Benedik owner of Select Franchise Consulting will help narrow your options. Our consultation will help you make an informed decision. There are thousands of options in franchising, find the one that is a good fit for your business and lifestyle goals.