Buying a franchise is one of the biggest decisions anyone can make. While it is certainly possible to purchase a franchise successfully, many prospective franchise owners opt for guidance through the process to mitigate risk and increase their pool of information.
While connecting with a franchise consultant was common long before the COVID-19 pandemic turned the business world upside down, it is hard for many to imagine making a decision with such significant long-term professional and personal effects without seeking advice from those with insider insights and industry experience.
So what, specifically, can a franchise consultant do for you? Plenty.
A franchise consultant can give you objective feedback on whether you’re a good candidate to buy a franchise — or not.
You might think that every franchise consultant will tell every person they meet that they should buy a franchise, but that isn’t the case. In the two decades I have spent guiding prospective entrepreneurs, I have always enjoyed meeting and spending time with them.
But I know your time is just as valuable as mine.
Rather than leading you down a long road just to hit a snag late in the process, I take pride in offering accurate, objective examinations of a prospect’s qualifications. My hope is to help you successfully navigate the franchising process. That only happens with an honest accounting of your own candidacy and the quality of opportunities available to you.
So, if you’re new to the industry and aren’t sure whether you have the experience, background, and finances to consider investing in a franchise, talk to a franchise consultant. It’s often the most efficient way to quickly find out whether franchising can be a viable option for you — or if you should put a hold on your plans.
A good franchise consultant is not going to tell you what you want to hear, but what you should hear — and then you can make the decision to go forward, alter your plans a bit or go in another direction entirely.
A franchise consultant can help you avoid financial pitfalls.
Aside from the several side-effects of any new business venture, franchising is ultimately a financial decision.
There are risks involved in any decision of this magnitude. Beyond the desire to avoid buying a franchise that is the wrong fit for you — which is absolutely a valid concern — it is essential to understand any potential financial issues with such a large investment.
You want somebody there who understands the franchise disclosure document, also often referred to as the FDD. You need to fully understand the startup costs and where to get a good loan and not one you’ll regret in a few years.
A franchise consultant can help you with all of that.
Actionable Industry Insights
A capable, experienced franchise consultant speaks with franchisors and franchisees every day, gaining essential knowledge of the industry and up-to-date market trends. That provides you the value of finding the best opportunities at the right time.
As mentioned above, however, finding the right fit is paramount. The best franchise consultants know which franchisors are considered easy to work with, which ones can tend to be difficult, and which ones are somewhere in between. That knowledge allows them to lead you to an opportunity that not only makes financial sense but also sets you up for success with a franchisor and a model that works for you.
If you have questions or concerns about certain franchises, and you’d like to talk to somebody who has the answers and insight that you need, then a good franchise consultant can provide real value.
A franchise consultant gives you credibility.
In a way, this may be the most important reason to consider working with a franchise consultant. If you’re a franchisor, you aren’t simply looking for someone that can afford the startup costs. You want a franchisee who adds value to your brand by successfully maintaining what you’ve built.
Plenty of quality, capable entrepreneurs approach franchisors on their own, but even those who have what it takes to succeed can struggle to get their foot in the door. That can especially be the case for those new to franchising.
Franchise consultants can often serve as a bridge between the two parties, and beyond making the initial introductions, they can help entrepreneurs better sell their own value to the franchisor. Approaching a franchisor with the backing of a franchise consultant ultimately shows you are committed to the process and are focused on succeeding.
I have dedicated my career to assisting entrepreneurs reach their full potential. I take pride in setting the foundations for success on both sides of franchising. I hope you’ll contact me to see where I can provide you the most value.