Frequently Asked Questions
In addition, if you go directly to the franchise development team (salesperson), they can’t help but be biased toward their concept as they will not be paid if you choose a different company. A franchise consultant / broker can therefore help you be more objective during the due diligence process and make the choice that’s best for YOU.
We start with a scientifically validated assessment that helps to identify the types of businesses that would be the best match for your values, competencies and work style.
Here are a few additional questions we’ll need to consider:
- Why do you want to own your own business?
- Have you owned your own business before now?
- How many hours and what time of day do you like to work?
- Is there a certain location you desire?
- What kind of capital do you have available to start your business?
- Are there partners involved?
- Do you want to have more than one business?
- When do you want to open your door for business?
- Will you be available full-time or part-time?
There are hundreds of franchise opportunities available, and sifting through them all can take months for a person without our knowledge of the industry. Many people get frustrated and give up. Using our service can help you avoid this situation because we create a personal profile for you and then research franchise opportunities that match your criteria. With just a few opportunities to evaluate, you save a lot of time and effort.
It’s not easy to be a part of our inventory. Each company has been thoroughly reviewed from every angle. We have high standards for every aspect of the business. By doing our homework, we are confident that we can offer you the very best opportunities that are just right for you.
Owning your own business puts you in control of your own future. But it’s also difficult to do by yourself. When you buy a franchise, the franchiser offers support, experience, and knowledge to all aspects of the business. They have been there so they know what challenges will arise and the best way to overcome them.
Franchisors provide you all the tools to be successful. They will train you prior to your opening. They give you advertising and marketing support that builds your business. Most importantly, they reduce your risk because the system has already been proven to work. Their training and support insure that you will be able to handle whatever comes up along the way.
With some franchise models, that proven system can help you develop an organization that can be run by a professional manager, leaving you more time to develop additional units or pursue other business or personal goals. And if selling your business is part of your long-term strategy to build wealth, that brand name and added support can be a tremendous value-add for your potential buyer.
Funding your purchase of a franchise is nearly always a major consideration for business owners. Too often, businesses simply don’t have enough capital to help them start-up a new business. We feel it is critical to discuss financing issues early so any problems can be addressed during investigation and research steps of the process.
See your Funding Your Franchise page for more information about funding options and links to some of the funding experts we recommend.
Another possible resource for financing options is the franchisor. They have solved this problem in the past for themselves and for other franchisees. The will have a good idea of what works for their type of business and will likely have options that make the most sense.
It varies. If you are motivated (and not distracted!), you can complete the franchise consultation process in a few days fairly simply. Most clients can find a great opportunity in anywhere from 1 to 3 months. Once you have purchased your opportunity, it can range from as little as 2 weeks up to 6 months to get the business going.
Absolutely not. In fact, most franchisors prefer that you have no experience in the industry prior to owning the franchise. Franchisors want people that can use their transferable business skills to motivate employees, close sales, and manage efficient operations. They do not want their owners doing the labor, but running the business. Typically in this equation, the franchisee is the manager not the labor.