Both help you find a business. Here is how to distinguish them.
If you are looking at franchising, you will find advisors who help you. Understanding how they are compensated ensures you get matched to the right concept for you. Professional guidance ensures your future is the priority.
How Compensation Works
Here is the honest version. A franchise consultant, including me, is typically paid by the franchisor when a candidate signs on. This keeps the service free for you. The brand compensates us for finding great owners.
This fact is a standard part of the industry. Ensure the fit of the concept is always the priority. Success happens when the advisor puts your future first.
Fee Structure Does Not Have to Compromise the Advice
Many professionals work inside this model and put the candidate first. Character and process ensure good advice. Here is how to tell the difference from the outside:
Observe the focus of the conversation:
- A focus on your finances and goals first shows a commitment to your success
- Understanding you first ensures the fit is doing the talking
You can feel the quality of the advice during the first call.
Ask These Questions to Ensure a Good Match
- How are you paid, and is the fee consistent across all brands?
- What is our process if we find that these concepts are not a fit?
- How often do candidates decide to wait, and are you supportive of that decision?
- Why are these specific concepts right for my situation and my numbers?
The answers provide clarity. Someone confident in their process welcomes these questions. This ensures you are in a professional and helpful conversation.
Why My Process Starts With You
My introductory call is a fit conversation. Before I suggest a concept, I want to understand your financial position, your time, your risk tolerance, and the life you are building. The concepts come later, and only those that match your specific goals.
It is a mutual interview. You decide if I am someone you trust. I decide if I can genuinely help. We move forward only when the match is right.
Start With Fit Before You Compare Opportunities
Vetting your advisor is step one. The next step is getting clear on what kind of franchise actually fits you before you spend time looking at specific brands.
That is exactly what Erica and I are walking through in this month’s free Deep Dive, Find Your Franchise Fit.
In this recorded session, we will show you how to think through your lifestyle needs, owner role, business model options, and the type of franchise that may match your goals. You will also learn how to use a simple Fit Scorecard to narrow your direction before reviewing opportunities.
A good advisor should help you protect your future. A clear fit process helps you make better decisions from the start.
If you want a simple way to understand what type of franchise may fit your life, register here for the free Deep Dive. We will send the recorded webinar to registrants on Wednesday, June 24.