Suppose you’re interested in helping your community or simply want to help others explore new business opportunities while being your own boss. In that case, a consulting business may be just for you. Becoming a franchise consultant, you will have access to an enormous database of franchisors and even have chances to attend webinars and training programs to help individuals become business owners.
The franchise industry has made almost 8 billion dollars in the U.S economy this past year. Small businesses are on the rise at this current moment in time. With comprehensive training and knowledge of the industry, you can help others open a successful franchise and help the franchisor with prospective franchisees.
What Does a Franchise Consultant Do?
There are many ways one can define what a franchise consultant does. As a franchise consultant, you will be the middleman between the franchisee and franchisor. An aspiring franchisee may want to contact a franchise consultant to help them explore their options in the franchise industry. You will also be prospecting clients to see if they are the right franchisee for the franchisor.
A franchise consultant helps the prospective franchisee every step of the way with the franchise system. Essentially, they are trained to offer advice and expertise for new franchises.
Having a designated franchise consultant can be very beneficial as a franchisee doesn’t know where to start when it comes to franchising, and that’s why they are there to help.
When searching for franchise consulting services, keep in mind that you will come across franchise brokers. There is a difference in both of these services. A franchise broker is actively trying to sell a franchise similar to a real estate agent.
What are the Qualifications to be a Franchise Consultant?
Now that you know that you’re the perfect fit for a consulting business, you’re probably wondering, “what are the qualifications of a franchise consultant”?
There are many ways one can receive training to become a certified franchise consultant. One way one can get started is by partnering up with IFPG, a franchise consulting business. In a nutshell, IFPG will help you become a successful franchise broker or franchise consultant in the industry.
However, IFPG is not necessary. All franchise consultants require no industry experience. One should bring into the industry the mindset of being your own boss and a strong desire to learn different business models throughout many franchise companies. Most importantly, be a salesperson to sell the franchisor that your prospective franchisee is the right fit.
Steps to Becoming a Franchise Consultant
A franchise consultant needs to be able to find the needs to find a franchise business based on their client needs and skillsets. Franchise consultants help determine franchise ownership for the franchisor to be successful.
As stated above, IFPG offers the ability to help future consultants understand franchise opportunities and franchise sales. They help provide you with extensive knowledge and training programs to get you started in your business ownership journey.
How Much Does a Franchise Consultant Make?
When considering a new job, the first thing everyone thinks of is how much the job pays. When it comes to the franchise industry, it can vary in many ways. A franchise consultant’s job is to help a client become a franchise owner, and of course, this can mean location for the franchise brand must be considered.
If research is done correctly, a franchise consultant can make $100,000 – $300,000 per year, helping franchise buyers expand their business.
Keep in mind you don’t need years of experience to get into the franchise consulting business. All you need is the entrepreneur mindset and the ability to be a salesperson. Whether it’s a full-time job or part-time, you will be able to gain the experience of helping your community neighbors grow, as they trust you are giving them the right business lessons.