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Franchise consultants are excellent resources for prospective franchisees. They help guide your decisions as you choose among myriad franchise options. Historically, consultants help franchisors develop and expand their business model, but this is shifting. Now, franchise consultants also benefit those seeking new franchise seekers to help match individuals to a franchise that promises more opportunities for success.
Are you considering franchising for the first time? Then it’s time to get some good advice and assistance. As you embark on a new and exciting opportunity, use the broader experience of other experts who have gone before you.
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A professional franchise consultant will evaluate your wants, needs, skills and ideas. She will survey and consult based on your preferences. As the consultant works, there will be dozens of calls and follow-up questions as you consider your next career move into franchising. You want this to be as close to perfect as possible, so look for these characteristics in a franchise consultant:
- Objective advice: A consultant should be full of information or have access to it, and his advice will come from an objective evaluation. Balanced information is critical in making the right decision for yourself. You should never feel pushed toward a specific franchisor.
- Well-rounded skills: A consultant will be coaching you on franchise processes, legal considerations, location, marketing, and budgeting. That person should have broad experience in franchising best practices, certainly, but also a broad expanse of business acumen.
- Clear communicator: Judge how well you understand the information provided by your consultant. Every step of the franchise evaluation process must be clear to you. The consultant might need to present information differently or teach you concepts before you can make decisions. An effective consultant will do this patiently until you fully understand your options.
- A focus on you: The goal is to get you matched with the best franchise to fit your needs, your goals, and your idea of success. While a consultant should provide alternative ideas, the ideas should help solidify and affirm your preferences. All efforts should satisfy your own short and long-term goals.
- Money sense: A strong consultant will work within your budget, provide forecasts, find alternative sources of capital investment, and examine the impact of all options on your future operation. The best franchise will struggle without a strong financial foundation, and a franchise consultant should candidly assess your financial risks.
- Creates connection: Your choice of consultant has to be someone you feel you can trust. As you consider investing your savings in a franchise, listen to your gut. If you have any doubts or feel uncomfortable with your consultant, step back and find another. Starting a franchise is too important a decision to make without having confidence.
Choosing from so many franchise operations can be daunting. Using a professional franchise consultant should ease the strain by providing clear communication with objective evaluations of your business options.
If you're in the market for a franchise consultant or franchise advisor, we have a few listed on our Franchise Services page.
Anne Daniells is a co-owner of Enterprising Solutions, a professional services firm specializing in corporate communication and financial improvement for businesses where she shares decades of corporate and entrepreneurial experience—including franchise ownership—in her writings on business culture. She has authored hundreds of articles for publications including AllBusiness.com, TweakYourBiz.com, and MSN.com. Reach out via her website for more on where corporate culture, communication, and human architecture collide.