Like a reliable map, a franchise consultant with great traits can navigate anyone in the entire franchising process. Thus, this means that you need to consider their expertise before investing?
Consultant advice will help those less experienced from the learning process of franchising to determining the right franchise business opportunity. With 4,000 brands out there, navigating the franchise world on your own would be difficult.
However, finding that individual is not that easy too. Some have many years of experience, while others are less. So rather than just speaking with someone you found online, considering some qualities of a good franchise consultant is very helpful.
Before giving you the list of traits to look for, let’s learn first what franchise consultants do.
What does a franchise consultant do?
Others think that a franchise consultant is a salesperson but that is wrong. A franchise consultant is your coach and assistant to help you find a franchise that is perfect for you.
More often, a franchise consultant will show you the step-by-step process of how to evaluate a franchise model. It is also part of their job description to give you options or a list of franchises that you might be interested in.
If you are new in the franchising industry, a coach can assist you to ensure that your investment will not be wasted. The thing is, you should not pick just anyone to be your consultant.
You have to search for the best. Look for the following qualities in choosing a franchise consultant.
5 Traits of the Right Franchise Consultant
1. Should be well-experienced
The more experience the consultant has, the more likely they will find the right business for you. Ask them the following questions:
For example, some consultants have never owned a business themselves. The consultants that have owned businesses in the past tend to have a better idea of which companies to refer you to.
Some consultants have used franchise consultants in the past. This allows them to empathize with you because they went through the same search that you are now going through.
2. Committed to providing full support
Some franchise consultants are “part-time” consultants. If someone has too many balls they are juggling, they might not have enough time to focus on you. If the consultant is part-time, they might not know which brands are the best.
Some brands work exclusively with top consultants. If you work with a part-time consultant, they might not have access to the hottest brands. Engage a consultant with industry experience who can dedicate all their energy to you.
The franchise investigation process is time-consuming. One needs to explore franchise disclosure documents, financing, existing franchisee validation, franchise systems, and franchisor discovery days.
How involved will your consultant be in this process? The best consultants are coaches who are with you throughout the whole process.
3. With a high reputation
Reputation matters. You trust certain brands. You trust that Orange Theory will give you a good workout and that Chick-Fil-A will always provide a delicious meal.
Pick a franchise consultant with a good reputation who you can trust. Consultants with the best reputations spend more time with their candidates. Your chances of finding a great franchise are higher when you choose the right consultant.
4. A good communicator
Along the process, a franchise consultant needs to be aware what are the details that you want to have in purchasing a franchise. The communication skills of a consultant are necessary to provide you with your expectations.
Look for a consultant who has the initiative to discuss things. This trait is accompanied by good communication between the consultant and the client.
If a franchise coach is a perfect communicator, it means that he is also a good listener. You should feel comfortable when talking about negotiations with your franchise coach.
5. Fully dedicated
Franchising is as serious as marrying someone. You have to make sure that everything is set before signing a franchise agreement. You should know from the start that this has a “no return no exchange” policy.
In other words, you have to hire a franchise consultant who is fully dedicated to his duties to assist you in the whole process. Your consultant should make you well-equipped before signing a contract.
A fully dedicated franchise coach should be:
Investing in a franchise is a life-changing and complex decision. By working with the right franchise consultant, your chances of finding the best franchise fit are higher.
Not all franchises and not all franchise consultants are the same. So you should search for the one who can lead you to success.