Franchise Consulting – What You Need to Know

Knabb Consulting is in the business of helping clients research business ownership and achieve independence through business ownership. There are some helpful things to know about franchise consulting as you explore entrepreneurship.

CONSULTANT, COACH, BROKER – What is the difference? They all work with clients like you to help you find a franchise brand for investing and ownership. I like to think that a Consultant provides a professional service. In my case, my accounting, data analytics, and project management background is used to help you navigate the research project and support you through the interviews with brands that are selected because they have qualities that are aligned to your goals, family needs and work styles. Coaches are similar. Each consultant or coach has different skills they are bringing to bear to help you in your search process. “Brokering” has a much heavier sales connotation. Some might do careful matching while some heavily represent particular brands. Some might be working to get the best and biggest commissions.

It is smart to interview with multiple consultants before selecting one to work with.

NO FEES – While you are the client, you don’t pay the bill. How can that be? Well, franchise brands can spend a lot of time and money trying to find well-suited people to invest as owners. General recruiting comes at a high cost. Therefore, franchise brands benefit when a consultant brings a well-qualified, well-coached candidate to them for a warm introduction. When that candidate moves forward and buys the franchise unit, the brand pays me a commission.

SPAM REDUCTION – Anyone can buy into a franchise directly. No consultant is needed. People can contact interesting brands directly or use portals that advertise for hundreds of brands. What you need to know is that when you provide your name and contact information, those brands start calling you and emailing you and trying to sell you. They will be primarily concerned about determining whether you are a good fit for them. What if they are exciting but they aren’t a perfect fit for YOU? What if there is a different brand out there that is better suited to helping you achieve your goals and will give you greater satisfaction in the end? Those brands you contact won’t be in the business of helping you figure out what is best for YOU, only what is best for them.

If you have any questions at all, book a meeting through https://calendly.com/cath-01. I am committed to helping people make the best decisions for their families and communities, and I am glad to answer your questions even if you decide not to engage my services. Cath

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