If you read our previous blog post on how brokers can help you meet your goals, you saw the many ways a broker or consultant can assist prospective franchisees. This time, FranSave, wants to look at the relationship between brokers and franchisors, specifically how franchise brokers help franchisors and two main mutually-beneficial components of the broker/franchisor relationship.
A good rapport between franchisors, franchise brokers, and prospective franchisees sets the stage for the successful launch of the franchisee in their new business. A broker must understand the criteria that a franchisor seeks in a prospect.
What should a franchisor expect from their relationship with a broker?
In order to fully leverage a good relationship with your broker, you should bring your A-game as well. One of the most deleterious problems that can hinder the franchise agreement process is a confusing or disorganized franchise system.
More to the point, it’s a huge mistake to believe that the task is done once you settle on a contract.
Sabrina Wall, CEO of the Franchise Brokers Association sums it up well when she comments “It is not just about closing the sale and forgetting about it. Even after franchisees are signed, the broker can become a valuable source of information and communication between the franchisee and franchisor. Brokers are able to advocate on behalf of both the franchisor and the franchisee.”
So, don’t be afraid to pursue continuing support and guidance from your broker. Yes, a franchise broker aptly fulfills the role of “matchmaker,” but that’s far from
their only function. For one thing, if you develop a pattern of success with one prospective match, then you know you have fertile ground with a franchise broker who could help you extend into multi-unit franchising. The future is bright and lucrative as long as all parties remain focused on a common purpose.
FranSave brokers take pride tin the service they provide to franchisors, prospects and franchisees. We also serve small businesses that see franchising as their expansion strategy and work with them to transform from business owner to franchisor. Maybe you want to expand beyond a one-unit business into a full-blown, diversified system. That’s great. We can help you franchise your business and attain those objectives. Call us at any time at 844-476-7776 to learn more.
This information is not intended as an offer to sell, or the solicitation of an offer to buy, a franchise. It is for information purposes only. Currently, the following states regulate the offer and sale of franchises: California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Rhode Island, South Dakota, Virginia, Washington, and Wisconsin. If you are a resident of one of these states, we will not offer you a franchise unless and until we have complied with applicable pre-sale registration and disclosure requirements in your jurisdiction. Franchise offerings are made by Franchise Disclosure Document only.
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