Why Would I Use a Franchise Consultant?

Are you looking at starting a franchise business? You can do your own “self-guided” tour of the internet to search for the right fit. But if you’re new to the world of franchising and you peer too deeply into the research, the process can get confusing. There are so many different options for franchise ownership out there. Which is the right choice for you? 

When it comes to finding the right franchise, there are two options out there:

Think of other areas in your life where you might make big decisions or major investments and how you go about making these big decisions. Consider purchasing a home or rental property or investing in the stock market, for example. These investment opportunities have easy-to-use, internet-based platforms you can use to make purchases. Both homes and stocks have online resources that you can access – spending hours researching and learning more about the opportunities, pitfalls to avoid, etc., but is this the best way to learn about and navigate these bigger investment decisions? Particularly when you can consult a seasoned professional to help guide you?

Now—think for a moment—when you purchase a home or invest in the market do you handle it all yourself or do you lean on the experience and knowledge of an expert?

I use experts in both areas of investment; realtors and financial advisors. They both have so much more experience than I do in their fields. 

The main reason I seek out their advice? I don’t invest frequently in real estate or my stock portfolio, but when I do, there is typically a set block of time when I can take advantage of my available resources (time and capital) to make a decision and engage my additional investment. When this happens, I lean on my advisors to guide me, get me up to speed quickly on what the market is doing now, and help me make the best decision possible to address my needs. It is the same in the franchise investment arena.

When swimming in new waters, it’s wisest to seek the advice, insight, and expertise of someone with more experience than you; someone who has their finger on the pulse of what’s happening in their industry.

But when you’re looking to invest in a franchise, how do you know if a consultant is qualified to support you as you make your decision?

Here are some questions you might ask a franchise consultant if you find yourself talking to one:

Working with a franchising consultant can be endlessly helpful if you find the right person. 

Someone who is experienced and has in-depth knowledge about the world of franchising can have a majorly positive impact on your future. If you ask a series of questions around their depth of expertise, you’ll work with a consultant who can help you navigate the franchise world including:

Chances are, you have a lot of questions. Things like, “What are the right kinds of questions to ask the franchisor?” and, “How many franchisees should I talk to before I make a decision?” A qualified franchise consultant can lead you through all of this to help you make an informed purchase decision.

Want to learn more or ask additional questions about owning your first franchise? Give us a shout.