What Does It Take To Be The Best Franchise Consultant?
Franchise Beacon is an analytically driven company. At the end of the day, franchise sales is nothing but math. If you’ve read the book How and Why to Franchise Your Business
, you know that our philosophy is that you can move the needle somewhat through skill, tenacity, having good franchise sales process
, and having a franchise sales method; but you can only move the needle so much. It should come as no surprise, then, that we use Google Analytics often. One of the terms I’ve seen come up on my search report recently is “the best franchise consultants”. “What”, I mused, “decides the best franchise consultants?” “Is there an award out there somewhere?”
Franchise Beacon, of course, prides itself in its ability to deliver high-level services to a very small select affirms and a under market price. I don’t think that in and of itself defines the best franchise consultant, however.
So, team Beacon decided to put our prospective franchisor hats on and think about what we would look for, with our current knowledge, if we are trying to find the best consultant. Without further ado, I bring you the top five things to look for in the best franchise consultant.
The top five characteristics of the best franchise consultants
- Franchisor experience. The number one position was hotly debated, but we decided that nothing else can make up for raw, in the trenches, experience. If you’ve never gotten a call from a frantic franchisee because their worlds crashing around on them, for whatever reason, you just can’t understand what it’s like to be there.
- Integrity. It was hard not to put this is number one on the list. Frankly, without the experience or the integrity, you should not be working with a consultant! Franchise consultants often become an integral part of the business, and guide you make decisions where they have expertise. If they’re not willing to look in the eye and tell you when they don’t know something, they could cost you time, money, or worse, litigation. Their integrity should be beyond reproach.
- Industry connections. To some extent, franchising is a “who you know” business. The drive of franchising isn’t cronyism, however, rather it’s a “give back” attitude that permeates the industry. When I think of this attitude, the first person that comes to mind is Doug Schadle, CEO of our direct competitor Rhino 7 Franchise Development. When Franchise Beacon was launching the now-integral part of our business, franchisee and franchisor funding, we sought the advice of industry experts, including Doug. He took about an hour out of his afternoon to speak with us, and his advice helped shape our funding program. That’s the give back attitude that permeates franchising, and if your consultant doesn’t get it, they don’t get franchising, and it’s not something you can fake. Make sure that your consultant is respected in the industry, not just by their clients but by their peers and competitors.
- Transparency. This is similar to #2, but not the same. I have spoken to several would-be-franchisors, and when we get to the costs, they freeze. Franchising is not cheap, and if someone is telling you it takes $15,000 to become a franchisor, they are not being transparent, end of story. There are differing opinions, and some folks may tell you franchising can be done on a shoestring budget with $100K in the bank, while others insist you can’t make a move with less than $300K. Typically, the best franchise consultants will tell you a range of investment and why; their numbers might not agree with ours but if they have transparency and an analytically-driven plan they pass this test.
- Make sure you like them. Yes, I am putting a completely subjective and personal requirement on being the best franchise consultant. Why? Because you really aren’t looking for the best franchise consultants; you are looking for the best franchise professional for you. So, make sure there’s a personal connection there, and that you can work with them comfortably to launch your new franchise venture.
Is Franchise Beacon the best franchise consulting company?
We are definitely in the top group! We are established professionals with backgrounds in running multi-national franchise companies, well connected and respected within the industry, and transparent in our methods. If you would like to see if we are a good fit for you, don’t hesitate to reach out!