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Why You Should Work With a Franchise Consultant

Written by: Michael Hemenway

Article Overview: A franchise consultant will make your journey to become a successful franchisee smoother; he will help you to carry out all the necessary research works and also assist you in selecting the right franchising company.

Why You Should Work With a Franchise Consultant

The franchising business is a vast arena; trying to fathom it and digging out a pearl on your own is next to impossible. You need to carry out comprehensive research on your chosen field first in order to check out how many established and new players are there in the sector and then you can narrow on some of them according to your budget. Then you have to read each of their UFOCs carefully and visit some of them on the Discovery Day. But, if you are getting tired just by reading the UFOC, then you are not to blame! Choosing the right franchisor is the first and foremost step of running a successful franchising business. As you can see, the road can be quite intimidating! That is why working with a franchise consultant is the second wise decision you can take in the process (first is, of course, your decision of joining the franchising business!).

But don’t go for the first franchise consultant you find in the yellow pages. Just like choosing real-estate agents, be very careful while selecting a franchise consultant. Here, the first thing you should know that whether the consultant is active in the field that you have chosen. Many consultants specialize in one or two fields rather than going for all the fields of this diverse business arena. Ask the consultant how many successful franchising businesses has he helped in setting up. Another thing that you need to ask is whether he represents any franchising company. There should not be any conflict of interest and the franchise consultant is supposed to work for you and not the franchisor. What’s more, you ought to ask him about his background and legal history. Also check whether he is a part-time consultant or a full-time one. On the other hand, in order to work properly with the franchise consultant, you are required to be totally honest with him. You have to tell him about your strengths and weaknesses and also your financial condition. Then only the franchise consultant will be able to select a suitable franchising concept for you.

If you have doubts that you cannot find a franchise consultant on your own, then approach the franchise consultants listed in the premier franchise consultant websites such as brandEXPANSION. The associates from this site will help you in a number of ways. They will help in finding the best franchisor after talking to you and going through your financial situation. Moreover, you won’t have worry about getting good lawyers or CPAs to review your case; the franchising associates will take care of that too. They will help you in obtaining financial support as well. Hence, start looking for the “right” franchise consultant today, if you are serious about joining the burgeoning franchise industry.

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Article Tags: budget, business arena, comprehensive research, conflict of interest, discovery day, franchise consultant, franchising business, franchisor, full time, legal history, part time, real estate agents, strengths and weaknesses, time consultant, time one, ufoc, wise decision, yellow pages



Related Forum Posts
Re: Today's Hottest Franchise? - I try to keep up on some of the hot franchises, I have noticed an increase in interest in the service industries. Lower cost, lower overhead etc... I think this is because most folks have less to invest or less they are willing to risk. John Henning Franchise Consultant
What is the Best Franchise? - As a Franchise Consultant I get asked this question on a daily basis. I work with clients to help them find the right franchise and through those conversations they almost always as me: "What is the Best Franchise?". There is no single answer for this question as the answer truly depends on the criteria you set as a perspective franchise owner. Meaning, maybe you want a retail location with 5 employees or a home based franchise with zero employees. Either way, the word "best" becomes relative to what is important to you. I realized quite some time ago that I could never "sell" a franchise to anyone. The only way someone will buy a franchise is if it makes sense for them & their family. Performing the proper due diligence is key to finding the best franchise for you.
Re: what position to request? - Hi Michael, Great suggestion from David, or you could try something around a design consultancy, How about Website Design Consultant, Design and Development Manager, Website Support and Development Manager or maybe Internet Business Development Consultant. Ultimately whatever you are comfortable with and good luck for the future, Mal.
Re: Enticing Franchises - Top 9 List - All Franchise listed above are in millions of dollars. Do you have the list of Franchise in thousands
Re: Info for would be franchisers... - [quote="Sebastien":1d29sdv1]Like Franchise Times, Franchise Update is a very practical magazine. There is no blah blah, just straight facts that anyone in the franchise community can relate to. I just want to mention that all these magazines are NOT franchisee oriented. I mean these magazines are for franchise professionals. If you're looking to buy a franchise, you won't find much information in there. To answer your question, getting published in Franchise Times was fairly easy. I don't want to brag too much but I think I am known in the franchise industry. I was the marketing guy at Franchise.com for a few years before joining my new company, the World Franchising Network. So people know me and I have a very good relationship with Nancy Weingartner, the Managing Editor at Franchise Times. I was talking with her at the last Franchise Expo South in Miami and she mentioned she'd like me to be profiled. I was like "ok, sure!". I like this franchise executive profile thing in Franchise Times as it is rarely BS. People are usually really natural in there.[/quote:1d29sdv1] Thanks for the follow up Sebastien! And I can't say that I'm surprised that networking with the right people and managing your relationships with them properly are the keys to being published. I guess the old adage holds true of "it's not who you know, but who knows you" that's important.


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