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How can you decide if a franchise consultant or broker is right for you?

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Franchising can be a rewarding and profitable way to own your own business, but it also comes with many challenges and risks. One of the decisions you may face is whether to work with a franchise consultant or broker, who can help you find and evaluate franchise opportunities, negotiate terms, and guide you through the process. However, not all consultants or brokers are created equal, and some may have hidden agendas, conflicts of interest, or lack of expertise. How can you decide if a franchise consultant or broker is right for you? Here are some tips to help you make an informed choice.

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1 Know the difference

A franchise consultant or broker is someone who acts as an intermediary between you and the franchisor, helping you find the best match for your goals, budget, and location. A consultant or broker may work with a network of franchisors, or specialize in a certain industry or region. A consultant or broker typically earns a commission from the franchisor when you sign a franchise agreement, which means they have an incentive to close the deal. However, a consultant or broker should not pressure you into making a decision, or steer you towards a franchise that is not suitable for you.

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Michael Kinney

Owner of The Savory Advisor foodservice consultant at Kinney Brokerage, specializing in business brokerage and hospitality.
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I am a licensed Real Estate Broker in New York. With that said I also have about fifty years of experience! And yes I am old; I have run all types of food service, my own 11 years, country club chef, country club manager, taught cooking and food service program, and ran my own consultant business. Everybody hates a consultant; I now call it mentor, advisor, or coach. Work on your education or hire an expert to help you!

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Chuck Barson

Franchise Consultant - I Work With Executives, Retires & Veterans That Want to Own a Franchise To Fit Their Interests, Location & Investment Amount - to Achieve Greater Income and Long Term Wealth.
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Choosing to work with a Franchise Consultant or Broker is a much better choice than conducting your search on your own for several reasons. A good Consultant will never rush your decision, and will take all the time you need, weeks, months, or even years. Equally important is a good Consultant will ask a lot of questions trying to see the future through your eyes. What are your dreams and goals? - That is where a very good consultant is invaluable!

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David. Greenberg

Corporate Exec Turned Entrepreneur, Multi-Unit Franchise Owner | Franchise Consultant, Helping Others Do the Same | Own Six Prosperous Franchises | Leveraging Decades of Experience, Guiding People to Franchise Ownership
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Agree, but it is also very important to work with someone who has been or is a franchisee themselves. My entrepreneurial journey from corporate executive to multi-unit franchise owner and now a franchise consultant gives my candidates decades of experience to work with. There are over 4,000 franchises out there. I only work with 200 or so that are A++. The process should not be pressure-driven; it should be a process of investigation. I work with my candidates through a six-week process that gets them prepared to make a decision. Yes or no is fine with me. And, please, remember, that franchises are awarded, not bought. They need to love you to protect their brand, and you need to love them to protect your money and time.

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2 Do your research

Before you hire a franchise consultant or broker, you should do some background research on their credentials, reputation, and track record. You can check their website, social media, testimonials, and references to see how they present themselves, what kind of services they offer, and what kind of results they have achieved. You can also ask them for a list of the franchisors they work with, and how they select and evaluate them. You should also verify that they are members of reputable associations, such as the International Franchise Association (IFA) or the Franchise Brokers Association (FBA), and that they follow ethical and professional standards.

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David. Greenberg

Corporate Exec Turned Entrepreneur, Multi-Unit Franchise Owner | Franchise Consultant, Helping Others Do the Same | Own Six Prosperous Franchises | Leveraging Decades of Experience, Guiding People to Franchise Ownership
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Trust us is a big part of selecting a franchise consultant. I agree 100% with doing your research on who you work with. What can they offer you? Experience of being a franchisee themselves? Experience of making a transition out of the corporate rat race? Check out their Linkedin their website and understand what they have to offer you. BEWARE of those consultants who shotgun your name to 8-10 franchisors. That is different from how it is done. After a deep consultation with a consutant, they should be able to match you up with 3-4 offerings that fit your lifestyle and financial goals.

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3 Ask the right questions

When deciding if a franchise consultant or broker is right for you, ask some specific questions that can reveal their level of knowledge, experience, and integrity. Examples include: How long have they been in the franchise industry, and what is their background and expertise? How do they assess your needs, goals, and qualifications as a potential franchisee? What criteria do they use to match you with the best franchise opportunities? How do they help you prepare for the discovery day, the franchise disclosure document (FDD), and the franchise agreement? What kind of support do they provide throughout the franchise process, and what kind of follow-up do they offer? How do they disclose their relationship with franchisors, and how do they handle any conflicts of interest? Finally, how do they measure their success, and what are some examples of their clients' outcomes?

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David. Greenberg

Corporate Exec Turned Entrepreneur, Multi-Unit Franchise Owner | Franchise Consultant, Helping Others Do the Same | Own Six Prosperous Franchises | Leveraging Decades of Experience, Guiding People to Franchise Ownership
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When vetting a franchise consultant, asking the right questions is crucial. Find out how long they've been in the industry and what specific expertise they bring. Are they matching you with franchises based on a thorough assessment of your goals and qualifications? Inquire about how they prepare you for the key steps throughout the franchise investigation process, like Discovery Day and navigating the Franchise Disclosure Document.

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4 Trust your gut

Finally, you should trust your gut feeling when choosing a franchise consultant or broker. You should feel comfortable and confident with the person you are working with, and have a clear and honest communication. You should also feel that they have your best interests at heart, and that they are not trying to sell you something that you don't want or need. If you feel any red flags, such as pressure, deception, or lack of transparency, you should walk away and look for another option.

Working with a franchise consultant or broker can be a valuable and helpful step in your franchising journey, but only if you find the right one for you. By following these tips, you can decide if a franchise consultant or broker is right for you, and avoid any pitfalls or regrets along the way.

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David. Greenberg

Corporate Exec Turned Entrepreneur, Multi-Unit Franchise Owner | Franchise Consultant, Helping Others Do the Same | Own Six Prosperous Franchises | Leveraging Decades of Experience, Guiding People to Franchise Ownership
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bsolutely, trust your gut. If something feels off, it probably is. You should feel like the consultant is transparent, honest, and truly has your best interests at heart. If you feel rushed or pressured, or sense a lack of transparency, those are red flags. The relationship with your consultant is crucial in your franchising journey, so it should be built on trust and mutual respect. Always trust your instincts; they're your inner compass for a reason.

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5 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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How can you decide if a franchise consultant or broker is right for you?

1

2

3

4

5

1 Know the difference

2 Do your research

3 Ask the right questions

4 Trust your gut

5 Here’s what else to consider

Franchising

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How can you decide if a franchise consultant or broker is right for you?

1

2

3

4

5

1 Know the difference

2 Do your research

3 Ask the right questions

4 Trust your gut

5 Here’s what else to consider

Franchising

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