By now, you’ve come to realize that investing in a franchise is a lucrative business venture for an entrepreneur. They’re the ideal choice over starting your own business from scratch because franchises come with a proven track record and a built-in support system. However; while you may be interested in buying a franchise or franchising your business, you may not be familiar with the process. That’s where a franchise consultant comes in initially to help. Unsure what a franchise consultant is? Below, we break down a consultant’s definition and their role. Then lastly, if you’re interested in chatting about any of this, feel free to schedule a call with me.
What Is a Franchise Consultant?
Franchise consultants are knowledgeable on all things related to the franchising process and the industry. As a potential franchisee, you may not know what you want, how to figure out what you want, or where to start in the franchising process, and this is where a franchising consultant comes in handy.
What Happens When You Work with a Consultant?
Finding the perfect franchising opportunity can be overwhelming. After all, there are around 3,800 franchisors available today, but how do you pick the right one? That’s also where a franchise consultant can assist an aspiring franchisee. First, you’ll meet so that your consultant can lay the groundwork, learning about your interests and values, assessing your abilities, and discussing your budget so that they can provide you with the best options. After that, they’ll use their resources to put you in touch with franchisors that match your wants and continue to help you understand the industry.
Let’s take a second to talk about what it’s like working directly with Blackmore Franchise Consulting specifically.
I have a unique engagement process that focuses on you and finding the right opportunity not just for your investment portfolio but for your lifestyle. I’d be working with you to find an option that helps you live the life you want to live.
During our first call together, I’m going to listen and understand what you specifically want out of your life and what you want out of your Investment Portfolio. We’ll also go through a discovery process where I introduce you to the franchising concepts, and we’ll do a few exercises to boost your franchise familiarization. Additionally, during this process, if you have a request to learn about a specific franchise, I can go and pull the information related to that opportunity. We can go over together in a subsequent call. This isn’t something that all franchise consultants offer, but I’m certainly happy to help you explore specific opportunities if you have something in mind.
Now, as we move forward, we’ll begin talking more about the process of investing in a franchise, and we’ll get detailed timelines and milestones related to the opportunities you want to look into most. As we work and explore opportunities, I’ll also gain an understanding of what you’re comfortable with doing as part of your role as an owner. For example, are you comfortable with dealing directly with customers or conducting sales, etc.? Knowing this helps me understand the franchise opportunities you’re looking into and what you are comfortable doing as part of your daily role.
Then, we’ll move into the eight-week long due diligence process between you and the franchise you’re looking to buy. Here you’d be working directly with your franchisor, and you and I will have weekly sync meetings to touch base. During our calls, we’ll go over what your expectations are and what the franchisor’s expectations are, ensuring that you and the franchisor are in alignment and that any disconnects are resolved.
For example, if you feel the process is going too fast or too slow, I can reach out to the franchisor and make sure that adjustments are made so that you’re comfortable with the speed by which everyone moves. I can also follow up with the franchisor for outstanding items as needed.
The common theme here is that it’s my job to make sure that you’re consistently making the right decisions for you!
Blackmore Franchise Consulting
Hiring a franchise consultant can be the key to finding success in the franchise industry. So if you’re looking for a consultant, I’d love to offer my services. At Blackmore Franchise Consulting, I use my more than 25 years of experience in the franchising industry to help you find the perfect franchise and guide you through every step of your franchising journey.
If you’re interested in getting started, contact me today!