franchise consulting vs. sales vs. brokerage
TRANSCRIPT
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Franchise Consultingvs.
Salesvs.
Brokerage
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There’s no single ‘type’ of person who comes to the realization that they’re
interested in starting a franchise.
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There are not even a few categories of such folks — they come in all attitudes, shapes, sizes, and abilities.
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If you’re talking to the folks who get people into franchises, however, there are exactly three categories:
● you have the people who do franchise consulting,
● the ones who do franchise sales, and● the ones who do franchise brokerage
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Notice I don’t say:
“franchise consultants, franchise salespeople, and franchise brokers.”
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That’s deliberate, because a surprising number of people in this arena manage to completely mis-use those terms.
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You’ll find people doing franchise consulting but labeled “Franchise Broker,” and so on.
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So let’s talk about the difference between these activities categories...
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Franchise Consulting: Pay Money, Get Tough Love
➠Franchise Consulting is “getting paid by a person to determine whether that person would make a good franchisee and, if so, which franchise their abilities are most appropriate for.”
➠Franchise consultants tend to focus the vast majority of their time and attention on that first part: on assessing their clients’ ability to handle a franchise.
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➠If a client of theirs goes into business and fails, they ‘lose face’ (so to speak).
➠Unfortunately, this creates a harsh dynamic, because they’re incentivized to tell most people that they won’t succeed as franchisees — and the people they say this to are the ones paying their bills.
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So talking to someone who is consulting with you on your ability to franchise is often like giving someone money to kick your dreams into the gutter.
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Franchise Sales: Everything Looks Like a Nail
➠On the other extreme, you have franchise salespeople.
Franchise salespeople will put you in a franchise if you can
afford it — because they work for a franchiser, and they get
paid for each person they sign up as a franchisee.
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➠It doesn’t matter what you did for a living or what you
love to do with your life, they have the same suggestion: hand
over a pile of money, because being a franchisee for their
particular company is great!
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➠Needless to say, if you’ve been a car parts salesman for
years, and the franchise recruiter for Subway is selling
Subway, they’ll pitch you Subway, end of story.
➠They have no other options, and they have no income if
you don’t sign up — so they have no incentive to do anything
other than ‘whatever it takes to get you to sign up.’
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Franchise Brokerage: Matchmaker
➠In between the two, combining the best aspects of both,
you have the franchise broker.
➠These folks work for large groups — as many as ‘several
hundred’ — franchisers, and they get paid by those collectives
to match your skills and circumstances to the franchise that
you are the most likely to succeed at.
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A franchise broker won’t kick your dreams, but
they also won’t try to wedge you into a mold that you
don’t fit.
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If you believe that a franchise is in your future, a
broker is usually the best person to talk to.
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Getting hooked up with a franchise broker is
easier than most people think.
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Franchise City offers free unlimited services from
brokers who are under contract with nearly 600 of the
top brands across a wide range of industries.
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Through a unique and proven 20 step process, we
help clients find the best franchise business to fit your
passion, interests and budget.
For further info, check out http:
//franchisecity.net