So, you have made the decision that you want to invest in a franchise. That’s good. However, there are
around 4,000 different franchises to choose from in the United States. Obviously, you are going to have
to narrow this list down a bit. In order to do so, here are some questions you should answer:
• What service sector do I want to be in?
• What type of owner do I want to be?
• How much money do I have to invest?
• How can I fund my investment?
• Where do I want to locate my business?
Once these questions have been answered, you can start looking for franchises that match those criteria.
As you can imagine, this is going to be a very time-consuming process.
There is another option. You can use the services of a franchise consultant. Franchise consultants are
trained to help their candidates find a franchise that will meet their financial goals and lifestyle
requirements.
A franchise consultant will work with you to build a business ownership profile. This profile will include
the service sectors you want to consider, how much money you wish to invest and how much money you
are capable of borrowing, whether you want to be an owner-operator of your business or be the CEO of
your organization, and what type of lifestyle you want to lead as a business owner.
Once the business profile has been established, your franchise consultant will find franchises that match
your profile and present them to you. For the franchises that you are interested in, the franchise
consultant will present your profile to the franchisors and facilitate a meeting between you and the
franchisor.
Once you have found a franchise to invest in, your franchise consultant will guide you through the process of acquiring the franchise. This will include maintaining close contact with you and the franchisor to make sure the process is moving forward smoothly and getting you in front of funding sources and legal services as necessary. Many franchise consultants have owned franchises or worked for franchisors, so they have invaluable experience and knowledge to offer throughout.
Also, there is no fee or obligation to work with a franchise consultant. Franchise consultants are paid by the franchisor when a candidate is placed.
As you can see, there really is not a downside to talking with a franchise consultant. Please feel free to get in touch with me if you have any questions. I’m here to help you and would love to discuss franchise ownership with you.
Mark England
919-434-5546