Guide to Great Questions To Ask Before Working With A Franchise Broker/Consultant

Franchise "brokers" and "consultants" are paid a fee by the franchise company they are contracted with for a successful placement of a new franchise owner. Their role is similar to an executive recruiter's role. There are great executive recruiter's who really care about placing the right candidates. and there are average to below average ones, who want to make the most money that they can, and may not always have the candidate's best interest in mind. The franchise brokerage and consultancy sector is the same, in that respect.

Before you decide to use the FREE services of a franchise broker, you need to ask them these 10 questions:

1. Exactly how long have you been a franchise broker?

2. What is your franchise experience?

3. How many articles on franchising have you been quoted in?

4. How many articles on franchising have you written?

5. Are you part of a franchise yourself? And if so, do you get paid a fee for referring folks to your franchise companies headquarters?

6. Can you give me a list of 20 people who are in franchised businesses of their own, directly as a result of working with you?

7. Can you give me the names of at least 3 franchise attorneys who know you, and who will vouch for your character?

8. Do you hold face to face meetings in your local market area in your own leased office space with prospective franchise owners, or do you work from home, via phone?

9. Do you teach small business/franchise classes at local colleges, libraries and high schools?

10. Is this your only business, or is this an add on to another business of yours?

This list of questions is a good start for you, if you are considering working with a franchise broker/consultant. Here are a couple of things to really key in on, when selecting someone to help you with the process of franchise selection:

1.Is this broker locally based, or is it someone that you will only have phone conversations with?

2. Is this broker new? This one is huge. Do you really want to risk $100,000-$300,000 of your own money with a broker who is learning the business at the same time you are?

I know the questions to ask, and I also know the answers you should be hearing. I am a franchise consultant. About me