There are many professionals and industry experts in the marketplace who have the title of "Franchise Consultants." What does it mean to be a franchise consultant and how can these professionals benefit a business professional?
There are two types of franchise consultants in the marketplace, one side of the franchise consulting industry supports franchise buyers who are investing in a franchise opportunity. These franchise consultants are familiar with the franchises available in the franchise industry and can help a buyer navigate the process of finding and investing in a business that is the best fit for them personally. This franchise consultant should be utilizing character analysis tests, Myers-Briggs tests, personality testing and other tools to figure out what kind of business person you are in order to find the right franchise.
This franchise consultant should also have a detailed understanding of the franchise marketplace and which franchises are available. A good franchise consultant should have a wide knowledge of the franchise offerings available so that a complete analysis and review of the franchises can be done for each buyer in order to find the best fit for a franchise relationship.
On the other side of the equation, a franchise consultant also describes a professional who works with businesses to develop and launch franchise systems. These franchise consultants should have experience and understanding in working with businesses to design and build franchise companies, they should understand the legal aspects of franchising, the operational side of the business as well as the marketing and sales of franchise opportunities.
Franchise Consultants come in all shapes and sizes, there are large firms that provide franchise development services along with smaller franchise development firms. There are different reasons why companies choose one franchise consultant over another, my recommendation is to find one that feels right and seems the most attentive to your needs and will work with you throughout the entire process of not only designing your franchise program, but also acting as your partner in implimenting and executing on a new franchise program.
FMS is a team of expert franchise consulting professionals based in Canada that provides solutions for franchise development, franchise consultation, and expansion of businesses globally.