Vicky Tade here to answer the question “What should your Franchise Consultant provide you?”
If you are looking to find a franchise that matches your goals, you may have come across a Franchise Consultant along the way, maybe even me. Many people have never heard of a franchise consultant and don’t know what to expect in working with one or why you should work with one at all. Franchise consultants range in skill level just like any industry. If you are working with one, here are three things you should expect during your engagement.
Franchise consultants spend their days researching franchises. The good ones have streamlined that process and will provide you with research tools to help you assess one franchise’s merits over another. They will also train you on how to use the tools. Here is an example of the tools you should expect: Franchise Comparison Scorecards, a Guide on How to Read an FDD, a sample Proforma to help you get to the bottom line, and validation support questions.
A second thing a franchise consultant should provide you is access to funding. No matter what your financial situation, when you can leverage your assets it allows you to do more with your business faster, so a good consultant will help you find the best options to leverage your franchise intelligently.
Lastly a franchise consultant should always provide unbiased support and assistance. The unique advantage of this industry is that a franchise consultant is paid by the seller, not the buyer. They have hundreds of franchises (sellers) to choose from and so if one is not a right fit for you, they should be the first to tell you so. The consultant should be there to act as a sounding board for you, a supporter to you, and an advocate for you. That means giving you the assistance to help you be successful, because purchasing a franchise is a long-term arrangement and it serves all parties to find the right match.
If you want to talk to a consultant that gives you all of these things and more, reach out to us today.
If you would like to find out more, please contact us today!