When it comes to franchising, many factors come into play. It can be overwhelming for entrepreneurs looking to break into the industry and make their mark. That’s why franchise consulting companies exist—they help guide aspiring business owners through the process of setting up their own franchises.
In this article, we will cover the best franchise consulting companies. These top-notch firms provide invaluable advice and support to franchisees who want to start their own but may not know where or how to begin.
We’ll look at each company’s services, pricing structure, and more so you can get an idea of which consulting company is right for you and match your requirements as an entrepreneur.
What Is a Franchise Consulting Company?
The term “consultant” refers to a person who acts as a source of guidance or expertise in a certain profession.
A franchise consultant is, in short, a person who advises you through the maze-like nature of the franchise industry and teaches you how to navigate your way around it. There are advantages to be gained from working with a franchise consultant, regardless of whether you are the franchisor or the franchisee.
It can do wonders for the growth of a franchise to have an assigned person who is able to answer the most important concerns concerning franchising and achieving success. In addition, prospective franchisees may not be sure what they want, how to get there, or where to begin looking for a business opportunity. A franchise consultant can provide invaluable advice and guidance in these areas.
Note that there’s a difference between a franchise broker and a franchise consultant. A franchise broker is someone who helps you buy an existing franchise and make sure everything goes smoothly during the transition. A consultant, on the other hand, is more focused on providing advice and strategic guidance.
Types Of Franchise Consulting Companies
Depending on their personal areas of experience, their client’s needs, and the franchises (or franchise industries) they are most likely to be working with, a franchise consultant’s specific package of services will typically vary. With that in mind, a typical franchise consultant will still offer a wide range of services, including:
1. Franchise Selection
The exact franchise a budding franchisee should pursue is not always an easy decision to make. With so many options available, it’s difficult to choose the best one that will suit your individual needs and goals. That’s why enlisting the help of a professional franchise consulting company can be invaluable.
A good consultant will have experience helping clients select the right franchises that meet their specific requirements and objectives. They’ll also have access to comprehensive databases containing detailed information on various franchisors and franchises, allowing them to quickly identify potential opportunities that match your criteria.
2. Franchise Contract Negotiation
Once you’ve chosen the franchise that you want to pursue, the next step is typically negotiating its contract. This can involve a lot of back and forth between yourself and the franchisor, as both parties must agree on numerous terms and conditions before any agreement can be reached.
A franchise consultant is invaluable here, as they are well-versed in all aspects of franchising law and have extensive experience in negotiating contracts between franchisors and franchisees. They can help ensure that all parties involved understand the terms being agreed upon and that everything is fair for everyone involved.
3. General Approach
Running a franchise will require you to make numerous crucial strategic decisions. These decisions could be regarding supply chain optimization, HR and hiring procedures, location selection for the franchise, budgeting, and even marketing.
A franchise consultant can help guide you through each of these processes by providing valuable advice on how best to proceed. They can also provide you with additional resources that may be necessary to ensure the success of your business.
4. Ongoing Assistance
The best time to hire a franchise consultant is typically right at the start of the franchising process. Franchisees often have the most questions about franchising at this phase and need the most help making decisions.
However, a franchise consultant can also offer ongoing assistance throughout the life of your franchise as you look for ways to improve or expand your business. This could involve helping you with everything from recruiting additional staff to identifying new marketing strategies, which can help you implement the order to increase sales and profits.
10 Best Franchise Consulting Companies
Now that you know what a franchise consultant does, here’s a list of the top 10 franchise consulting companies:
1. FranNet
First up on our list is FranNet, a premier franchise consulting firm that stands out as one of the best in the industry. With their extensive experience and comprehensive approach, FranNet offers aspiring entrepreneurs a one-stop shop for all their franchise needs.
What sets FranNet apart is its ability to introduce you to a wide range of franchisors, which eliminates the need to go from place to place to learn about specific businesses. At FranNet, you can explore the basics of multiple franchise options conveniently and efficiently, saving you time and effort.
One of the most appealing aspects of working with FranNet is that their services come at no cost and with no obligation. This means you can make use of their knowledge, assistance, and a wide network of franchisors without making any upfront cash commitment. They genuinely prioritize your success and help you navigate the franchising landscape with confidence.
FranNet’s team of knowledgeable consultants understands the intricacies of franchising and will guide you through the entire process. From initial consultation to business financing and ongoing support, they provide a holistic approach to franchise consulting.
2. FranChoice
Next on our list of the best franchise consulting companies is FranChoice, a highly reputable firm that offers complimentary franchise consulting services to individuals considering franchise ownership.
When it comes to expert guidance, FranChoice stands out by providing you with the industry’s most knowledgeable consultants. Their team consists of experienced professionals who have a deep understanding of the franchise landscape and can offer valuable insights and advice.
FranChoice takes a comprehensive approach to franchise consulting, offering a range of services that include consulting, research, comparing options, and coaching. Their consultants will work closely with you to understand your goals, preferences, and financial considerations, ensuring they can present you with franchise opportunities that align with your vision.
What sets FranChoice apart is its dedication to personalized service. They prioritize building a strong relationship with their clients and take the time to understand their unique needs and aspirations. With FranChoice, you can expect tailored recommendations and support throughout the entire franchise exploration process.
One of the finest advantages of working with FranChoice is their commitment to providing these services at no cost to you. They believe in helping individuals find the right franchise without imposing any financial burden. This makes FranChoice an accessible and invaluable resource for aspiring franchise owners.
3. P3 Cost Analysts
Ranked among the top cost reduction consulting firms, P3 Cost Analysts has been a trusted name in the industry, saving clients money since 1991. With a remarkable track record of assisting over 30,000 customers across the United States, P3 Cost Analysts stands as a beacon of success in the field of cost reduction consulting.
At the core of P3 Cost Analysts’ mission is their unwavering dedication to helping business owners and government organizations minimize overhead expenses by preventing overcharges. Drawing upon their extensive experience, P3 Cost Analysts employ a meticulous approach to identify areas that are often overlooked, conducting thorough audits that lead to substantial cost savings.
The range of auditing services provided by P3 Cost Analysts is extensive, covering various crucial aspects of business operations. From scrutinizing power bills and telecom charges to optimizing garbage recycling processes, merchant accounts, and even property tax assessments, P3 Cost Analysts leave no stone unturned when it comes to identifying potential savings for their clients.
What sets P3 Cost Analysts apart is their remarkable success rate. With an impressive 9 out of 10 clients finding substantial savings through their services, P3 Cost Analysts has established a reputation for delivering tangible results. Their expertise and meticulous attention to detail ensure that no opportunity for cost reduction goes unnoticed.
4. Fransmart
When it comes to expanding your franchise business, one name stands out as the industry’s preeminent leader: Fransmart. As a renowned advisory firm, Fransmart specializes in providing comprehensive support and guidance for franchise expansion, particularly in local restaurant concepts.
Fransmart’s expertise lies in taking local restaurant brands and transforming them into successful international franchises. With their deep understanding of the intricacies involved in scaling a business, Fransmart offers invaluable assistance to aspiring business owners looking to embark on their franchise journey.
Fransmart is committed to helping entrepreneurs find the right franchise opportunities that align with their goals and aspirations. Their team of seasoned professionals works closely with individuals, offering personalized advice and guidance throughout the selection process. Fransmart’s extensive network and industry knowledge allow them to identify and present suitable franchise options to their clients.
The track record of Fransmart speaks volumes about its success. Having sold over 5,000 franchises worldwide and facilitated the opening of more than 3,000 restaurants in 45 states and 35 countries, Fransmart has played a crucial role in establishing renowned franchises such as QDOBA, Five Guys, The Halal Guys, and Vapiano.
5. Transworld Business Advisors
If your main concern is selling or purchasing companies, you can confidently turn to Transworld Business Advisors, a trusted brokerage firm with a proven track record. Selling a company requires the expertise of a skilled broker who can locate prospective buyers and facilitate the transaction at the optimal price. Similarly, buyers rely on brokers to navigate the complex process of acquiring a business. Transworld Business Advisors excels in providing valuable assistance to both parties involved.
With a deep understanding of the market, Transworld Business Advisors utilizes their expertise and extensive network to connect sellers with prospective buyers and facilitate successful transactions at the optimal price. Their skilled brokers possess the knowledge and experience to guide clients through every step of the selling or purchasing journey.
Transworld Business Advisors sets itself apart through its comprehensive range of services. In addition to business brokerage, they offer expertise in franchise development, franchise consulting, and mergers and acquisitions. This diverse portfolio allows them to cater to the unique needs and goals of clients, whether they are looking to sell, expand through franchising, or explore strategic partnerships.
Clients can trust Transworld Business Advisors’ reputation for delivering results. With their guidance and industry knowledge, clients can confidently navigate the intricacies of mergers, acquisitions, and business transfers, knowing they have a dedicated team supporting their interests.
6. Action Coach
Business owners seeking to unlock their full potential and achieve abundance in their entrepreneurial journeys are encouraged to collaborate with ActionCOACH, a highly regarded business coaching company. ActionCOACH’s commitment to business reeducation and empowering enterprises has positioned them as one of the most successful consulting franchises in the industry.
ActionCOACH offers a comprehensive range of coaching services tailored to meet the diverse needs of business owners. Their offerings include executive coaching, group coaching, webinars, workshops, and one-on-one coaching sessions. By leveraging these coaching methods, ActionCOACH equips entrepreneurs with the knowledge, skills, and strategies needed to thrive in their respective industries.
One aspect that sets ActionCOACH apart is its acclaimed “14 Points of Culture” program. These fundamental principles form the cornerstone of the company’s values and have garnered praise from numerous business owners. The core values ActionCOACH emphasizes are dedication, ownership, honesty, excellence, communication, success, education, teamwork, and balance. By cultivating a culture rooted in these values, ActionCOACH fosters an environment of growth and collaboration.
Clients benefit from ActionCOACH’s proven track record of success and their commitment to delivering tangible results. Through their guidance, business owners gain clarity, develop effective strategies, and overcome challenges to achieve sustainable growth and prosperity.
7. Franserve
Franserve stands as a global leader in expansion services and franchise consulting, renowned for its unrivaled success in the industry. With franchising as its core focus, Franserve plays a pivotal role in fostering partnerships, driving business growth, and transforming lives. For professional guidance on expanding your franchise business, Franserve is the go-to company.
Beyond its expertise in franchise expansion, Franserve offers a range of valuable services. They serve as a bridge, connecting established business owners with emerging franchise opportunities and ensuring the right individuals find the right franchise fit. Moreover, Franserve plays a crucial role in facilitating connections between franchisors and potential franchisees, fostering mutually beneficial relationships.
Franserve goes above and beyond by empowering existing business owners to become industry-leading consultants. Through their comprehensive educational resources and training programs, Franserve equips entrepreneurs with the knowledge and skills to thrive as consultants in the franchise industry.
The strength of Franserve lies in its unparalleled experience, global reach, and commitment to driving success for its clients. As a trusted partner, Franserve provides personalized support, helping entrepreneurs navigate the intricacies of franchise expansion and seize opportunities for growth.
8. iFranchise Group
Founded in 1998, iFranchise Group has established itself as a trusted provider of comprehensive franchise consulting services. With a wide range of offerings, including strategic planning, operations documentation and training, marketing and sales support, management of advertising funds, and franchise recruitment, iFranchise Group is dedicated to helping businesses achieve their franchising goals.
Renowned in the industry, iFranchise Group’s consultants have collaborated with an impressive roster of 98 out of the top 200 franchisors globally, as recognized by Franchise Times magazine. With a combined expertise of over 800 years in the field of franchising, their consultants possess a deep understanding of the intricacies and best practices that drive franchise success.
iFranchise Group takes pride in its role in facilitating international expansion for prominent brands. Notable examples include ASICS, with over 300 locations; College HUNKS, with more than 150 sites; and Massage Envy boasting over 1,000 franchises. These success stories highlight iFranchise Group’s ability to guide franchisors in exploring global markets and achieving growth on an international scale.
With their proven track record and wealth of experience, iFranchise Group serves as a trusted partner for businesses looking to navigate the complexities of franchising. Their tailored solutions, strategic insights, and industry expertise position them as a top choice for companies seeking to maximize their franchise potential.
9. Raintree
Founded in 2014 by Brent Dowling, Raintree has swiftly emerged as a prominent player in the franchise consulting industry.
With Brent Dowling’s experience as the former President of Kidcreate Studio and Doc Popcorn serving as the Franchise Development Manager, Raintree brings a wealth of expertise to the table. Notably, Doc Popcorn possesses a strong background in sales and franchise growth, having previously served as the international sales and marketing manager of Force Industries.
Raintree prides itself on being a comprehensive resource for individuals seeking franchise opportunities. Their services aim to save clients valuable time and money through various means. This includes educating clients about franchising, assisting with thorough company research, determining the ideal structure and strategic mix of businesses of interest, and facilitating connections with franchisors that align with clients’ desired models.
With Raintree, clients no longer need to visit multiple locations to gather this essential information—it can all be found in one place.
Raintree’s dedication to providing a streamlined and efficient experience sets them apart. By offering a centralized platform for education, research, and franchise introductions, they simplify the franchising journey for aspiring entrepreneurs. Their commitment to client success is evident in their tailored approach and comprehensive support.
10. Pinnacle Franchise Development
Pinnacle Franchise Development stands as a dynamic and full-service franchise development company, boasting an impressive collective experience of over 40 years in growing franchises. Led by President Lory Meyerson, a seasoned professional with a strong background in the business and franchise industry, Pinnacle offers an array of comprehensive services to its clients.
Pinnacle’s commitment to its clients is evident through its extensive range of offerings. From providing support with Franchise Disclosure Document (FDD) development to maintaining a dedicated sales staff, lead generation, sales presentation development, policy recommendations, marketing strategies, territory selection, and overall business development, Pinnacle ensures that their clients receive holistic and personalized assistance at every stage of their franchise journey.
At the helm of Pinnacle Franchise Development, Lory Meyerson brings a wealth of experience and expertise. With over 15 years of involvement in the business world and franchises, Lory has served as the VP of Business Development for two national franchise companies, totaling six years of invaluable industry knowledge. Additionally, she successfully ran her own small business in the legal industry for eight years before founding Pinnacle, which has thrived under her leadership for the past three years.
Pinnacle Franchise Development’s success is driven by its client-centric approach and Lory Meyerson’s extensive background in the franchise industry. Their comprehensive suite of services, tailored strategies, and commitment to delivering results make them a trusted partner for aspiring franchisors looking to grow their businesses.
Wrapping Up
Franchising can be an effective business model when executed properly with the right support from an experienced consulting firm. Before selecting a franchise consultant, determine your goals and needs, research the available options thoroughly, and check reviews and case studies to ensure the company has a long-tail experience and a proven track record of success.
While you don’t necessarily need to commit to a franchise consultant, the right one can be invaluable in helping you achieve your goals. Our list of top 10 franchise consultants features some of the best and most experienced companies in the industry, making it easy to find a reliable partner for your business.
Frequently Asked Questions
Why Do I Need a Franchise Consulting Company?
Franchise consulting companies provide a range of services to aspiring franchisors, including helping develop Franchise Disclosure Documents (FDDs), business plans, marketing strategies, territory selection, and more. By hiring an experienced franchise consultant, you can ensure that your business is on the way to success and you have access to tailored advice and guidance throughout the process.
What Types of Services Do Franchise Consulting Companies Offer?
Franchise consulting companies typically offer services such as franchise strategy development, creating comprehensive business plans, developing the Franchise Disclosure Document (FDD), managing franchisee recruitment and selection, training programs, marketing consultation, legal services, financial planning, and more.
How Can I Choose a Franchise Consulting Company?
When selecting a franchise consulting company, consider factors such as their experience in the industry, how well they understand your business model and goals, and whether they offer the services you need. It is also important to take into account their fees, customer service ratings, and reviews from previous clients.
Amit Gupta is the founder of DrFranchises – a digital marketing agency that helps brands rank better on Google Maps through local SEO strategies. Amit has over 11 years of experience in digital marketing, SEO, email marketing, and social media marketing. He’s also the owner of multiple franchises and has helped countless brands achieve success online. When he’s not working, Amit can be found playing with his dog.