Franchise Consultants: The Matchmakers and Life Changers of the Business World
Franchise Consultants may be one of the business world’s best-kept secrets. While they make a tremendous impact every day, many people are unaware of what they do and how they do it. But those in the know understand the immense value they bring. These game changers help corporate refugees and aspiring business owners explore the vast opportunities in franchising. Also known as franchise brokers, franchise career advisors or franchise coaches, these superstars of franchising are pivotal in changing lives every day.
Want to know more about the intriguing world of franchise consulting? Check out the 7 little-known facts below.
1. Consultants are Professional Matchmakers
Similar to cupid with couples, Franchise Consultants work to connect hopeful entrepreneurs with franchisors. Think of consultants as professional matchmakers! Through strong communication skills, Franchise Consultants understand candidates’ backgrounds, interests, and desired lifestyles and then translate it into franchise opportunities. If done well, it may seem like a consultant understands more about a candidate’s desires more than the candidate does.
2. Almost Anybody can Become a Consultant
Almost anybody can become a Franchise Consultant as long as they have a desire to help people, have an interest in entrepreneurship, and a drive to succeed. A reputable franchise consulting training program will provide the education and tools to succeed. Consultants come from all walks of life. They can be retirees looking for a second career, stay-at-home mothers who want a side hustle, or corporate refugees ready for a change.
3. Consultants are Their Own Bosses
Franchise Consultants are in business for themselves, have the freedom to make their own schedules, and enjoy a great work-life balance. It is up to the consultant to decide how much, when, and where they work. This means they can make an executive-level salary with a full-time effort or work part-time on their own terms.
4. Consultants are In-Demand
According to FRANdata’s 2023 Franchising Economic Outlook, franchises are predicted to generate $860.1 billion, which is a 4.2% increase from 2022. There are no signs of franchising’s growth slowing anytime soon. As more entrepreneurs take the leap into franchising, the demand for consultants will keep growing.
5. Consultants are Networking Superstars
Franchise Consultants stay up-to-date on trends and meet franchise professionals and candidates by attending conferences, trade shows and other networking events. Experienced Franchise Consultants know how to connect with others right from the start, whether they are in-person or over zoom. Many consultants join franchise broker networks and take advantage of networking opportunities where they can meet face-to-face with top franchisors and other franchising pros.
6. Consultants are Due Diligence Experts
Think of Franchise Consultants as guides. These professionals assist entrepreneurs every step of the way in the franchise discovery process. This includes funding, reminders of what’s next, and understanding important documentation like the Franchise Disclosure Document and Franchise Agreement. With a consultant’s assistance, candidates become aware of potential red flags. Consultants are also an important part of franchise validation.
7. Consultants are Life Changers
Not only do these matchmakers help candidates avoid making a bad investment decision, but Franchise Consultants are life changers! Investing in a franchise business can lead to financial independence, help build a family legacy and create generational wealth. Franchise Consultants help entrepreneurs make the leap into franchising more prepared and with more confidence.