Why Use a Franchise Consultant?
Most of the clients I’ve worked with never knew that there are franchise consultants that will educate them on franchising and help them throughout the franchise due diligence and buying process. I have to assume that you are likely to feel the same way and questioning why you should take me up on my offer to help you. For that reason, I thought it would be helpful for me to provide you with the reasons why my clients work with me which will give you incredible insight on the value that I offer.
MAKING A MISTAKE CAN BE EXTREMELY COSTLY
For most people, buying a franchise is one of the biggest decisions they’ll ever make and it has longterm consequences. Aside from the hundreds of thousands of your hard earned savings at risk, you are to some degree risking your future income and net worth. The whole purpose of finding a business is to secure your future, but making a mistake and finding the wrong franchise can be devastatinging to you and your family. I take the time to understand you, your situation and capabilities, while educating you on franchising and providing decades of franchise experience. My goal is to help you make a very informed business decision based on facts and data, minimizing the risk of you making the mistake of a lifetime.
YOU DON’T KNOW WHAT YOU DON’T KNOW
There’s so much to know about franchising and it’s almost impossible for most people to really know what they need to know prior to making a decision to buy a franchise. I educate my clients on franchising and leverage my 30 years experience to help them understand what a good due diligence process looks like. I also provide them with a wealth of information and resources.
NOT SURE WHAT WOULD BE RIGHT FOR YOU
With over 3,500 franchises in the U.S., finding that “perfect fit” franchise can be extremely daunting and time consuming. Many people with have preconceived notions of what franchises may be good franchises, with no real basis for comparing franchises. They often select franchise options based on their past career or experiences they’ve had as a consumer. What I do is assess their business acumen, experience, skills, capabilities, and overlay their preferences. My processes for helping people determine what type of franchise is extremely effective. And with my knowledge of literally hundreds of franchises, I help narrow down things to brands that meet their criteria and makes sense based on their goals.
NOT SURE IF YOU’RE CUT OUT FOR BUSINESS OWNERSHIP
Not everyone is ready for business ownership due to the daily pressures, work ethic, confidence, and financial resources required to be successful. I help people understand what franchise ownership takes and I am very honest and straightforward as to whether a client is a good fit for franchising or not. I make sure my clients know what they are getting into and the commitment it takes to be successful.
WHY GO WITH FRANCHISING VS INDEPENDENT?
A recent report from the International Franchising Association illustrated that 80% of small businesses will fail within their first five years, while 80% of franchise owners remain in business. While there are risks to any business, franchises offer a proven business model with the systems, training, marketing, technology, ongoing support, that helps people be more successful. Franchises put a lot of time and resources to insure that their franchisees have every chance of success, because franchisees pay a share of the customers revenue in the form of a monthly royalty to the franchisor. There so many reasons why franchising makes sense, I here to help you understand those reasons and what specific franchises bring to the table to make them a good fit for you.
Franchise Fee: $60,000
Locations: 16 open / 100 sold
Franchise Fee: $30,000
Locations: 7 open / 29 sold
Franchise Fee: $49,500
Locations: 29 open / 100 sold
Franchise Fee: $49,500
Locations: 175 open / 632 sold
Franchise Fee: $45,000
Locations: 236 open
IS PAYING A FRANCHISE FEE AND ONGOING ROYALTIES WORTH IT?
When you first join a franchise you’ll be required to pay an initial Franchise Fee which tends to be $50,000 on average in the franchise industry. You are buying into the brand equity and proven systems that the franchise has created. Understand that it takes a lot of resources to recruit a qualified franchise owner and franchise companys often go through hundreds of people to find the right one. The franchise fee, although a lot of money to you and me, is not typically a profit center for the franchisor. Where franchisors make their money is the ongoing royalty fee you pay monthly to the franchisor. That royalty typically ranges from 6-8%, but can be higher or lower depending on the franchise industry and specific franchise. Can the royalty be too much and not worth it? Yes, it’s going to be based on brand equity, training, support, and the ability of the franchisor to help you continue to grow same store sales. There is the top 20% of franchisors that provide incredible value, middle 60% that provide good to great value, and the bottom 20% that provide little value. My job is to educate you and steer you to those franchise options that truly offer value to their franchisees.
I’M NOT GOING TO SELL YOU A FRANCHISE- I’M A MATCHMAKER!
At 57 years of age, coming from an entrepreneurial family, and owning businesses most of my life I have acquired a gift for gab. And although I find building relationship with people easy, I do not consider myself a salesman and will NOT sell you a franchise. I am a franchise consultant, which is a fancy name for a franchise matchmaker. My role is to educate and help you determine what options could be a great fit for you. If you like the options I come up with, I merely make formal introductions between you and the franchisors. I’ll never pressure you and tell you which franchise to buy. I will consult you and provide logical opinions based on what I know about you and the specific franchise.
MY SERVICES ARE 100% FREE TO YOU – NO GIMMICKS
Similar to working with real estate agents, you don’t pay any more for me helping you find the right franchise. Franchisors are happy to pay a referral fee for great candidates. Across the board, commission fees in franchising are relatively similar so there is no reason to steer you in one direction or another based on how much commission I’ll make.
If you’re ready to start investigating franchising with my help, I am happy to have an initial discussion to make sure this is a good fit for you. Use the link below to schedule a call with me.