In the last years, the franchising method has been having its most crowded days with new entrepreneurs joining to get a sense of this world.
However, to succeed in the franchising world, you still need help to show you the road, and franchise consultants are here for that.
Franchise consultants are extremely important if you would like to be successful from day one and make no mistakes.
They are generally far more experienced than the franchisor or the franchisee at the beginning of their journey and can provide many opportunities.
Franchise consultants aim to help move the business forward by giving advice, opinions, and guidance to the franchisor or to the franchisee.
Learn about franchise consultants here and search for a franchise consultant near you.
Find Franchise Consultant Near You
Click here to check the nearest Verified Franchise Broker.
What Is A Franchise Consultant?
A franchise consultant is a person that advises and guides a franchisor or a franchisee to develop their business.
They might start working with their clients from day one and help with everything from choosing the right franchise to finalizing the agreement.
They might also come in at a later stage of the franchise to help the franchise grow faster or fix some problems.
These consultants generally have been working in the franchise industry for many years. They also have to have a lot of experience to understand the business.
There is no specific degree for franchise consultants, but it is a benefit if they have a relevant bachelor’s or similar degree.
Their ability to help comes mainly from their experiences with the franchises, not education.
Also Read: What Are Royalty Fees In Franchise?
What Do Franchise Consultants Do?
The main job of a franchise consultant is to guide and help entrepreneurs with franchise ownership and excel at it at a faster pace without many mistakes.
It’s important to remember that they are not salespeople. They don’t sell you franchises.
Their job is to ensure that you succeed as a franchisee or a franchisor and guide you through the processes.
There could be two main ways a franchise consultant can join a franchise and help;
- Join from day one and help with picking the industry and business, agreements, and other starter things and be with them until they stop working.
- Join the franchise after everything’s ready. In this case, a franchise consultant works to develop the franchise, see what’s wrong, and adjust accordingly.
The first option is generally the best option for many, especially for new entrepreneurs trying to break into the franchise industry.
However, in both scenarios, they aim to guide, help, and develop the franchise.
How To Determine If You Need A Franchise Consultant?
If you are about to enter the franchise industry or you are already in but seeing some problems, you might wonder if you need a consultant.
This is a tricky question because you must consider some important things. The most important is your franchise’s current situation.
If you already have an operating franchise, check out if you see the development you want and if there are any problems or anything that bats your eye.
If you think you need help, a franchise consultant might be a good consideration.
If you are a franchisee, your franchisor probably already has a consultant in place that you can work with.
When you are looking to enter into franchising as a new entrepreneur and don’t know where to start, a franchise consultant is your best option.
Without a doubt, you should opt for working with a franchise consultant because otherwise, the consequences might be hard.
This will allow you to avoid mistakes and open the franchise as quickly as possible.
How To Choose A Franchise Consultant?
You decided that you needed a franchise consultant and took the first step. Now you need to pick a franchise consultant to help and guide you in the right direction.
To make sure that you get a consultant that can achieve this, you need to look for some of these things:
- Education history,
- Experience in the franchise industry,
- Any certifications,
- Their network,
- Any referrals they have.
By looking at and researching all these, you might get a good sense of a franchise consultant.
You will still need to talk to them and do deeper research if they tick all the boxes with these starting principles.
The rest will mostly depend on your personal needs and what else you would like to see on your franchise consultant.
Do You Have To Pay A Fee For Them?
Just like with any other thing that provides value for a business, franchise consultants also come with a fee.
In most cases, the franchisor already has a franchise consultant they are paying for. The franchisee can get to use that for free.
The Salary of the franchise consultant can change depending on the consultant’s experience, expertise and education.
Here are the median annual Salary and the top 10% salaries on average across the USA for franchise consultants:
- Median Salary: $82,500 annually
- Top 10%: $152,000 annually
Depending on the situation, they might also receive extra commission or bonus as an additional income.
Because the franchise consultant is already working with the franchisor, you can imagine they know the basic principles of running a franchise. Be careful if the franchise consultant asks for money from you.
In this case, they are probably trying to get fees from both sides because the franchisor already pays their Salary if they are working together.
Also Read: What Is Franchising & How Does It Work?
The Verdict
Franchises are an easy way to start your entrepreneurship journey, especially for those without much experience.
But the franchise world could be extremely complicated and hard to understand due to the many decisions you need to make.
While making all these decisions and navigating the complicated world, you can make mistakes.
To not make any of these mistakes, the franchise consultants are ready to give a helping hand from day one.
They guide and help you in the right direction, and they generally have massive experience in the franchise world.
Your franchisor generally pays for their salaries, so as a franchisee, you get to have a consultant for free.
Sources
Amit Gupta is an experienced expert in digital marketing and co-founder of DrFranchises. With more than 11 years of knowledge in franchise digital marketing, SEO, email marketing, and social media marketing, Amit has helped many brands achieve incredible success online. As a passionate entrepreneur and owner of 7 franchises, he continues to study franchise models, looking at costs, revenue, and profitability to guide brands toward profitable growth. When he’s not working on digital marketing, Amit enjoys spending time playing with his beloved dog.