It might surprise you to know that the number of franchise brands in the United States surpasses 3,000, and this number is gradually increasing every year. For those who are considering entering the world of business ownership through franchising, selecting the right franchise that fits their financial profile, unique skill sets, and income and lifestyle needs can be challenging. Because of the time-consuming nature of this process, many seek out the services of a franchise broker to make an informed decision, saving them hundreds of hours and potentially lots of money in the process.
A franchise broker helps match franchises with prospective candidates who are looking for the right opportunities. It’s a broker's duty to look out for your well-being and best interests and match you with a franchise that’s ideal for you. It’s also the broker’s responsibility to build relationships with franchise brands, understand their value propositions, and find candidates that fit their profile of an ideal candidate. Their reputation is on the line on both sides of this three-way partnership. Their role is to qualify and educate you, the candidate before they pass you along to the franchise to start the investigation process. Remember, just because a candidate is qualified and starts down the path of Discovery does not mean the franchisor will reward a franchise to that individual.
There are a few different ways that brokers help you find the right franchise that is a strong match for your experience, talents, and ultimate goals. One who’s adept at their craft will build a relationship with a candidate and develop an understanding of their personal goals so they can present several franchise opportunities that are a strong fit. They’ll also guide you through the research that’s needed to make an informed decision, point you to financing options if needed, and do a territory check to see if units are available. While brokers may talk about the discovery steps and explain what an FDD (franchise disclosure document) is, the franchisor is the only party who should share and discuss their specific FDD.
Choosing the right franchise business can be difficult. That’s why working with a broker can make the process easier, faster, and far more satisfying. A broker has knowledge of the marketplace and will introduce you to business opportunities in industries you might not ever have considered on your own. By significantly reducing the time that you would typically put towards research, the selection process can be sped up by a considerable amount. Your broker will provide you with franchise options they have already vetted, and you could find yourself in productive discussions with the right people at several franchisors in a matter of days versus weeks or months. This means, instead of having hundreds of options that tic some of your boxes and not knowing how to effectively scrutinize and whittle them down to a manageable number, your broker will present you with opportunities that meet most or all your needs. The franchise world is huge and growing daily, meaning more brands are competing for viable candidates. Having a franchise broker working for you – at NO cost to you -- is one of the best tools you can leverage to your advantage.
FranSave has helped many people grasp opportunities that lead to success. The franchise world continues to grow every year, and with our depth of industry knowledge, our brokers can point you toward the perfect opportunity...at NO cost to you. To find a broker who will work for you, visit us at fransave.com.
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.