How To Find A FranchiseFind the franchise business thats right for you. Ray haiber
As
a franchise sales consultant I am often asked what is the best way to
start the initial process of researching and finding the right
franchise to buy. Most of these individuals are still in the initial
stages of thinking about buying a franchise, and don’t necessarily have
a strong opinion either way about what type of opportunity they are
looking for. My answer is that there are more resources available in
today’s market then at anytime to find and research franchise
opportunities. Below is a list of some of the most popular methods
prospective franchise buyers can use to help narrow the search process
and find the franchise business that’s right for them.
Internet Directories:
The
fastest and most convenient way to begin the process of finding a
franchise is via the Internet. There are now dozens of franchise
opportunities directories online today that offer comprehensive
listings of franchise for sale, including information about investment
levels, training, availability, and how to contact the franchise
company for more details. These directories are also a good source for
free information about the general process of buying a franchise
business. You may want to visit A few different directories such as
franchiseopportunites.com, franchisegator.com, and http://www.azfranchises.com because not all of then will carry the same franchise listings.
Franchise Industry Publications:
Trade publications are another good source for general information about franchises available and franchising industry news. There
are magazines available such as Franchise Times and Entrepreneur, as
well as multiple online venues such as franchise-chat.com and
franchisenewscenter.com that provide a wealth of free information about
finding and buying a franchise.
Trade Shows & Conventions:
There
are numerous franchise opportunity trade shows and conventions held
through out the year and around the world. These venues offer the
chance for individuals to discover and research new opportunities, as
well as the unique opportunity to meet actual representatives of
franchise companies they may have an interest in. Some of the more
popular shows include the National Franchise & Business
Opportunities Show, and International Franchise Expo.
Franchise Consultants & Brokers:
Franchise
Consultants and brokers work with as little as a few to dozens of
different franchise concepts in their database that they generally have
in depth knowledge about. Considering the thousands of different
franchise opportunities that buyers can choose from these days, they
can be effective in helping a prospective buyer narrow their search by
first qualifying them, and then showing them opportunities that could
be a potential good match. Since
the majority of these consultants are paid a referral fee or success
fee by the franchisors if one of buyers they introduce moves forward,
the buyer generally has no direct expense associated in engaging a
franchise consultant to help them.
Some
of the potential downsides to working with a franchise consultant can
include that some only represent a few or a limited menu of franchise
concepts which can potentially limit the prospective buyer’s exposure
to seeing all the opportunities available in the market. And like some
sales people who work on commission, the motivations of the consultant
may some times not be entirely consistent with the prospective buyer’s
best interest or goals. But I would say overall, that the franchise
consultant industry has a very good reputation for treating their
clients fairly and professionally.
Business Brokers:
Many
professional business brokers are also franchise consultants, and they
also can be an excellent source to find existing or established
franchise business for sale in your local area if you decide to go that
route. Business
brokers generally also have good working knowledge of how franchising
works, and can often be very helpful to a prospective buyer because of
their inside knowledge of the local small business market. You can find
a local professional business broker in your area by visiting this
directory http://www.findabusinessbroker.com
Hit The Streets:
Another good and obvious way to find a research a potential franchise opportunity is to scope out and visit existing franchise businesses in your local area. There is no better validation that a franchise opportunity concept works than seeing a busy store or restaurant full of customers. And if they are available and have the time, you may also want to ask the owner about how business is going, are they happy with the franchisor, and would they recommend this opportunity. |
Add comment (Comments: 0) |   |