Among the many things you should know if you’re a franchisor, is how to work with experienced franchise brokers. A franchise broker is a third party for potential franchisees who are driven to succeed and attempt to match them with the right franchise. It may sound straightforward forward but it can be a time-consuming process.
As previously mentioned, seeking suitable candidates to become franchisees who will represent your business can be time-consuming. The advantage of working with a franchise broker is that they save you both time and money, which are two elements in the business world that are imperative to success. An experienced and knowledgeable broker can sift through a large pool of potential candidates and recognize which ones have the potential to succeed on a variety of levels. As the franchisor, it is up to you to clearly define the experience, skills, and traits that a successful franchisee should bring to the table. It’s the franchise broker’s job to find the people who fit that profile, qualify them, and bring the two parties together.
All franchise brokers are paid a commission. If you’ve ever wondered why they’re so effective at their job, this is why. They earn their commissions by finding the right individuals to assume control over a franchise. Commissions vary and can run anywhere from $10,000 to $30,000 or more. At first glance, this might seem like a hefty sum of money for a franchisor to pay to a broker, however, the broker’s fee is a relatively small price to pay if it saves you time buying leads and chasing them down.
Because they’re finding the best candidates for your business, you’ll quickly recoup that money in less time than you think. A franchisee who is dedicated to learning your model and enthusiastic about your brand can deliver results, generate consistent revenue, and, above all else—succeed. When the franchisee is successful, the franchisor is successful. That translates into consistent royalties.
We mean it when we say that a franchise broker can make all the difference in the world.
If you’re ready to spread your wings and franchise your business, the experts at FranSave can help. Franchises aren’t just purchased. They are awarded by the franchisor. For the perfect opportunity that’s been waiting for you, pay us a visit 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.