Franchising is a world of its own. When compared to retail stores or restaurants outside of franchising, many of the outwardly visible processes and procedures look similar but when you dive in a little deeper, one quickly learns how different the foundation actually can be. This is exciting for franchisors as they have the liberty to create their own process towards success. But establishing these processes can sometimes be a challenge for the franchisor – where do they begin?
More times than not, hiring a franchise consultant will immensely alleviate your stress by providing you with an extra set of eyes that belong to an expert in your space. In the remainder of this post, we will share many reasons why hiring a franchise consultant is often the right business choice!
Expert Advice
When you have access to an expert in the franchise industry, someone who’s been there and done that, you can learn from them. As business people, we need to capitalize on our available resources and reap the many benefits of tried and true processes. Because whether you are looking to expand your footprint by 250+ locations, are just getting out of the emerging brands category or are simply just brainstorming and drafting a plan to create a new brand, franchise consultants have done it before, or have helped someone reach these goals before.
For example, put yourself in the shoes of a successful tech savvy salesman with over 15 years of experience, who has recently left his salary job to do something else. Something bigger where he can define his own brand and his goals. He wants to be an entrepreneur and wants to be his own boss. Since he has a successful background full of sales experience, he surely knows how to sell a product or service that he is passionate about, and with passion for a product comes good marketing. So now, he has the revenue team covered in the beginning, but this is just one aspect of establishing a successful franchise. This guy has never written franchise operations manuals but knows he must have one in place if he wants to be successful in franchising. This is an ideal example of where he will want to hire a franchise consultant and gain advice on the buildout of a 130-page operations manual, while also receiving suggestions on the best franchise management software platform to use when hosting such manuals.
Time is money, so focus your energy on what you know and outsource what you don’t.
Cost Effective
Now let’s talk about something that everyone always agrees on. When you have full control over the costs of a project or assignment, there’s nothing quite like it. You are able to spend exactly the amount of money you want for exactly the results you are looking for.
Franchise consultants are brought on a as needed basis to come in and out upon completion of your desired project. There are no unnecessary periods of employment, thus no poorly allocated money that has gone to less than essential requirements. A very economical approach.
This way, hiring a consultant is much more economical than a full-time employee, all while you can have the consultant focus on your areas of need. With a franchise consultant, you don’t need to worry about providing them with the several benefits you are used to providing your regular employees nor do you have to worry about providing quarterly or annual bonuses.
Success Stories
Lastly, I recently came across a franchise consulting success story that was brought to my attention. This particular story was unique because their ratio on closed deals was higher than the industry average. This story was yet another “Grand Opening!” announcement for a successful commercial services franchise, and they announced that over half of all of their closed deals are resulted from the referrals they get through their franchise consultant or broker.
A ratio like that is hard to pass! If you haven’t tried partnering up with a franchise consultant, give it a try and see what additional successes you can add to your growing business!
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