HOUSTON BUSINESS REVIEW

How Do You Choose A Franchise Consultant?
By Adrienne Leigh

Adrienne Leigh is the President of FranNet of Houston, a franchise consulting firm that provides coaching to clients who are exploring franchise opportunities. She has over 20 years of experience in franchising and entrepreneurial start-ups. Each week, she will provide comprehensive information on the $1.5 trillion franchise industry.You can reach Addrienne at 713-586-8836 or via email. To learn more about Adrienne Leigh, check out her here


As with any profession, there are some great franchise consultants and then…well there are others. How do you find the good ones? Most people that start looking into franchise opportunities have no prior business ownership experience and also do not have any significant franchise knowledge. So any franchise consultant can sound knowledgeable even if they just know a little more than you do! So how do you find someone that will really be useful in finding a good franchise for your unique skills, talents, values and goals? How can you be sure they will provide useful information as you go through the process of research and investigation? Check to see that the broker you work with meets the following criteria:

* Their business comes primarily from referrals – would you want a doctor or financial advisor who got their leads primarily from the internet? Make sure referrals comprise the majority of your broker’s business

* They are selective in who they take as clients – not everyone is right for business ownership and a good broker will screen who they take on as clients.

* Have a proven system of success – in the same way that franchising works because there is a proven model of success, there is a system to finding a franchise. Is the broker’s system proven and well defined? Does the broker have experience?

* Acts as a coach, not an advisor – what’s the difference? An advisor gives advice, which by its definition is going to be infused with the advice-givers own opinions and biases. A coach works with their clients to clarify their goals and to help them reach the goals using proven techniques

* They take time to get to know what you are really looking for – would you want to work with a broker who fans out some brochures on their desk and asks you what you like? What help is that? You might as well get back on the internet and start hunting on your own. A qualified franchise consultant will spend time working with you to develop a business model of what is important to you and what your goals are. Many times a franchise consultant can help a client spell out what they are looking for and get it much more clearly defined and focused than a client could have outlined it for themselves

* Local Knowledge – does the broker work in the local market you will be opening your franchise in, or across the country? Different concepts work differently in different areas. And some are sold out in some areas with wide open territory in others. A local consultant will know far more than someone who is across the country. And you are also going to need local resources when you start in business – who better to ask than someone who regularly helps get into business in the local community

* Trust & Conviction – at the end of the day, do you believe the broker can act as your coach and help you achieve your goals. Do you feel comfortable talking to them and can you be honest with them

OK, so now you’ve found a great franchise consultant. One final word to the wise. You still need to invest your time in the research process and do your own due diligence to make sure the franchise will be a good fit for you, that you have the skills necessary to make it successful, and that you believe it will get you to your goals. Follow your coach’s system to make sure you’ve gone about the decision-making process in the most effective and efficient way so that you minimize your risk and maximize your return. But don’t take anyone else’s opinion in making the life changing decision to become your own boss and invest in a franchise. You want to become your own expert on the system you invest in.