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Things to Look For in A Franchise Consultant

While a good franchise consultant can save you time and money as you pursue your dreams, unfortunately not all franchise consultants are created equally. Here are the 5 top things to look for in a franchise consultant.

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Things to Look For in A Franchise Consultant

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  1. While a good franchise consultant can save you time and money as you pursue your dreams, unfortunately not all franchise consultants are created equally. Here are the 5 top things to look for in a franchise consultant.

  2. Especially if you are a newbie, you want to choose someone who has years of experience working in the franchise industry. Particularly, they should either have experience as a franchisee or as a key member of a franchisor’s leadership team. Ask for solid evidence of their work to back up their claims. You don’t want to be taking advice from someone who knows even less than you do, because they will lead you in the wrong direction.

  3. Sometimes people choose to become a franchise consultant for extra money to supplement their main business dealings and don’t want to invest a lot of time into it. This is not the person you want working for you. You want a franchise consultant who will give you the undivided attention you deserve. Even after you have chosen a franchisor to work with, you will need guidance through all the paperwork and the initial setup of your business. A good freelance consultant will be there for you every step of the way and will always respond to your phone call or email in a timely fashion.

  4. Reputation in the business world is very important. You will want to work with a consultant that understands the industry inside out and has a broad enough knowledge to find the franchise that meets your individual needs or goals

  5. Make sure the franchise consultant is upfront about any fees. Sometimes the franchisor will pay the consultant to help recruit potential franchisees so if you are one of those potential franchisees there should no additional costs beyond what you need to start your franchise.

  6. While you don’t want a consultant who will push certain franchisors down your throat even if they are not a good fit for you, you do want them to have a pre-selected roster of franchisors for you to look at. They should be able to research their database of franchisors using your criteria to find the best options.

  7. One last thing to consider when shopping for a franchise consultant is knowing the difference between a franchise broker and a franchise consultant. While often both brokers and consultants just call themselves consultants, there is some difference in the services they provide.

  8. Besides a franchise consulting, it is also recommended that you hire a franchise attorney to guide you through all the legal language in your contracts, including your contract with a franchise consultant.

  9. For further franchising assistance and consulting please contact: Mark Ludes Executive VP of Brand Management and Hotel Operations mludes@mbbmanagement.com 856-314-5122

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