| Franchise consultants are people who help broker | | | | Franchise consultants have to be very careful and |
| deals between franchisers and potential franchise | | | | analyze the prospective franchise candidate, to |
| prospects. Franchise consultants help franchisers by | | | | understand his needs, his financial capital available, if |
| referring qualified and appropriate franchise prospects. | | | | the business offered is viable and if the candidate can |
| How to Become A Franchise Consultant | | | | make a success of it. They have to be realistic and |
| Franchise consultants can be independent or work for | | | | make quick judgments and tell a candidate not to go |
| a firm of business consultants who have trained the | | | | for a business if he is not suitable for that business. |
| consultant, giving him access to their knowledge base | | | | Some franchise consultants get a bad reputation for |
| and the help of their established and experienced | | | | recommending bad prospects to clients just to make |
| attorneys, accountants, etc. The firm also provides | | | | a hefty commission for themselves. Try to be |
| them with leads during the initial period, creates a | | | | honest and remember that your primary duty is to |
| custom website, and provides business cards and | | | | help people get the right kind of business, not to |
| other items needed for day-to-day activities and also | | | | make a profit selling loss making businesses. |
| access to all companies they represent. The | | | | The customers usually do not pay a fee to the |
| consultants provide excellent training to help select | | | | franchise consultant; rather, the consultants are paid |
| the right business for the franchise prospect. | | | | by the franchisers for giving good referrals. The |
| It is very easy to set up an office, since franchise, | | | | candidates are questioned in length by the franchise |
| consultants can work full-time or part-time from their | | | | consultants to determine what kind of business they |
| homes or from a small office, as they desire. | | | | are interested in and to determine what kind of |
| Franchise consultants have to be motivated and | | | | business actually suits their profile. Thus, businesses |
| organized and should have good communicating skills. | | | | realize the role of franchise consultants and pay good |
| It is a highly profitable business if done correctly. | | | | referral fees for each deal that is closed effectively. |
| Franchisers pay $12,000 to $15,000 as a referral fee. | | | | You can be a franchise consultant by approaching a |
| If you are working as an affiliate broker of the firm | | | | good, reputable firm as well as to be their franchise |
| that trained you, you get to keep 90% of the fee. | | | | affiliate broker for the duration of your business. |
| Sometimes the firm works in collaboration with a | | | | These are some tips for those who need to know |
| financial institute and will get a referral fee if the | | | | how to become a franchise consultant. |
| franchise prospect is guided to approach them for | | | | There are firms that offer services as well as |
| financial assistance. The franchise consultant gets to | | | | products to help run a successful business. |
| keep 80% of the referral fee. | | | | |