After Discovery Day, the franchise team will communicate their decision to award you territory. Sign the agreement, Pay your franchise fee, and start the opening process!
We believe that very few opportunities have as much information available to you as investing in a franchise. Through engagement in this process and a few hours a week of your time, we find that most clients have the information they need to make a strong decision on a business in roughly 3 months.
There are over 4,000 franchises in dozens of categories of business. The process outlined below is intended to narrow down your options, save you time, avoid bad franchise opportunities, and ultimately set you up for success with a business compatible with you.
Our first call together focuses on clarifying your motivations and qualifications to own a business. Together, we will decide if exploring franchise businesses has strong potential to help you achieve your goals. A well-defined “Why” will give you clarity and confidence to commit your time to the following process.
The Zorakle Spot On is a well known tool in the franchise industry, used to understand the values, skills, communication and work styles of top performing business owners. You will complete this 10-15 minute assessment in preparation for our next call, and we’ll use the results as a starting point to understand which types of franchise business models would be a good match for you.
This is our second meeting where we develop your search criteria for an ideal business. It’s important to approach this call with an open mind. Often times clients come to us with interest in a specific brand or category of business, but through this process they’ll discover other options they never expected would help them meet their goals.
We will connect you with a franchise funding specialist for a free, no pressure consultation to explore options and strategies for funding a business. Depending on your specific financial situation, we’ll decide if this step is appropriate before an introduction to a franchise, or if it can wait until later in the process.
We will take about a week to conduct research, then meet to present three to five franchises that fit your criteria. We’ll explain the high level aspects of each business and how it fits or doesn’t fit your criteria. At the end of the call, we’ll prioritize these franchises and create a strategy to dive deeper into exploring one or two options.
Franchise Due Diligence starts with an introduction to the franchisor. It is a multi-step approach that is guided by the franchisor, but Advantage Franchise Brokers will be alongside you every step of the way to support your research with additional guidance, resources, and coaching. During this step you will learn about a franchise’s business model, the role of the owner, the systems and support, available territory, and much more.
This is the stage where you verify the information you’ve gathered with existing franchise owners. Many experts claim that validation is the most critical part of franchise research, and we whole heartedly agree. These are owners that were once in your position and will give you real numbers and personal experiences with the franchise, so that you can determine if this franchise is right for you and that you have proper expectations from the start.
This is your opportunity to meet the franchise team. At this point, your critical questions about the franchise have been answered and you will visit with the franchise leadership team for everyone to mutually decide if this relationship makes sense.
After Discovery Day, the franchise team will communicate their decision to award you territory. Sign the agreement, Pay your franchise fee, and start the opening process!
We use our industry experience to provide you with the information you need when you are considering buying a franchise business. We know which franchises are considered safer, more reliable, and most profitable. We also know which ones are currently available in your area. Our relationships with industry partners, including with representatives at the franchisors, mean that your applications get seen and you get access to the experts. More importantly, we can help you determine which franchises are the best fit for your role as a business owner! With our services, you save time, money, and your sanity during the important decision-making process.
There is no cost to you to use the services of a Franchise Broker. Your rate is the same as if you had worked directly with the franchisor. Our fees are covered through the marketing budget of the franchisor, because they respect our process and value the quality and type of candidates we refer to them. This means we are uniquely able to provide a win-win scenario for the client and the franchisor.
Franchising offers individuals the opportunity to be in business for themselves, but not by themselves. The franchisor offers support, experience, and knowledge of all aspects of the business, and they provide you with the tools to be successful. They will train you prior to your opening. They give you advertising and marketing support that can help build your business. Most importantly, a franchise reduces your risk with systems proven to work.
The amount of money needed varies greatly, depending on the opportunity you are interested in. Funding a franchise investment is usually a major conversation for our clients, and it is important to discuss financing options early on in the process. We have funding source experts in our network who we will introduce you to who can assist in finding the best options early on.
This depends in large part on you! Once we start working together, if you are motivated and responsive, we can find you a great match in as little as one to three months.
No – in fact, most franchisors prefer that you don’t! This is because they want you to learn their systems and follow their processes and procedures. Franchisors are typically looking for candidates who are coachable and have transferable skills. They want people who can motivate employees, close sales, and manage operations efficiently.
Our process is thorough – we want to match you with the best franchise concept that meets your specific criteria. And its personal, since we use our knowledge of your goals to align you with the people and brands that we work with. We take the time to get to know you in our introductory call, and we delve deeper into your motivations and goals using our franchise fit assessment. Then, we do our research using our insider knowledge of the brands and systems. You decide which opportunities you are interested in hearing more about, and we will introduce you to those brands. Our relationships with those people and organizations mean that our candidates rise to the top of the list, and as you move through the steps with those organizations, we stay with you every step of the way.
There are hundreds of franchise opportunities available to you. Sifting through them all can take months for a person without our knowledge of the industry. Many people get frustrated and give up. The consultation process makes it easier to match you with the opportunities that meet your specific criteria. We will narrow down the choices to a short list of franchises. With just a few opportunities to evaluate, you save a lot of time and effort.
Click HERE (link to How It Works page) to learn more about how we will work together to position you as a successful franchise candidate.
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