Whether you’re a franchisor in growth mode and need qualified candidates to help expand your brand, or you’re a hungry entrepreneur seeking a franchise opportunity that can provide the lifestyle you have dreamed of, working with a franchise broker can save you time and money.

How Brokers Help

Franchise brokers (or consultants) deliver a plethora of services to franchisors and franchisees alike. The broker’s job is to listen to and understand your goals, no matter which side of the relationship you're on. Here are some ways brokers add save time, money and add value:

• You're a franchisor and you don’t want to pay for leads UNLESS you get results. This is especially true if you’ve had limited to no success finding qualified candidates by buying leads. You don’t pay a broker unless the candidate they present becomes a franchisee.
• You want a career change. You’re considering buying a franchise but you’re overwhelmed with hundreds of brands with wide-ranging value propositions and investment requirements. A franchise broker will hand-select a manageable number of opportunities that meet your key criteria, including franchises you likely overlooked.
• You want to own and manage a franchise and maintain a low-risk profile. Franchise brokers can help you find franchisors with the best track records and avoid the ones that have a higher turnover rate.

Keys to Success

We’d also like to share some best practices for interacting with franchise brokers.

Invite franchise brokers to a discovery day.

Allowing brokers to attend a Discovery Day with potential franchisees is a great way to cultivate a working relationship. It allows the broker to see exactly what kind of prospects you’re getting, and then determine ways to find other candidates of similar (or better) caliber.

Always share important brand updates with brokers.

If you add or change important features of your brand, always inform the brokers so they have the most current information.

Always respond to brokers quickly and in a professional way.

Whether you’re responding to questions, territory checks, or candidate leads, be consistent in how you respond to brokers. If you take too long to reply or your response is less than helpful, brokers will be less likely to put their reputation on the line and direct candidates to you.

Never forget that getting the most out of your relationship with a broker goes well beyond listing your business (if you’re a franchisor) with them. Developing an ongoing relationship can help them help you whether you’re actively looking for a new partner today or later down the road.

FranSave brokers are trained to match franchisors and potential franchisees. Call us at any time to learn more about our services, at 844-476-7776.