Franchise consultants enjoy an enormous amount of independence in operating their business. But for some prospective consultants, there is one common aspect of the self-driven business model that can cause apprehension: How do I successfully grow my own franchise consulting firm?
As the world’s largest franchise consulting organization, FranServe Inc. often hears this concern expressed in the early stages of business development. How do I identify and approach qualified franchise candidates? How do I build relationships with franchisors? How do I market myself to reach the right target audiences?
If you find yourself asking these questions as you consider a career in franchising, know that you are not alone. In fact, thinking about how you will build your consulting business is a sign that you understand your most immediate challenges. The great news is that success is completely achievable, with the help of a few key strategies and access to valuable franchise industry resources.
Leverage Your Training Program
The franchise consulting training program you choose can have a major impact on your early success. Many large consulting organizations provide some level of training and marketing support to their newest team members. This is an excellent opportunity to learn franchise industry best practices, ask questions, and discover networking resources. Alternatively, you can also enroll in a certification program or franchise consulting course.
According to FranServe franchise consultant Libby Baucom, “Training has been key for me. The initial training was exactly what I needed to get a handle on franchises and the industry—how they work, what they offer candidates and how to help others see the incredible potential of being part of a franchise system.”
Libby says the support was valuable beyond her initial training, particularly in developing a solid approach to building relationships with prospective candidates. “Training has been continuous and easily accessible—there is always a new option to help me learn more about a particular franchise, how to strengthen my process in working with candidates, and especially how to set goals and reach them,” she says.
Learn from Franchising Experts
While training provides an excellent foundation for success in the franchise industry, advice from experienced consultants can help you form actionable strategies—and even avoid common rookie mistakes. Take full advantage of mentoring programs or group workshops, which can provide wonderful opportunities to learn from established consultants. If you are associated with a franchise consulting organization, you may already have access to these valuable opportunities. Libby points specifically to the ability to talk through specific business strategies one on one as an advantage: “My mentors were instrumental in answering questions and helping me get off the ground as I began working with candidates.”
For FranServe consultant Chris Smith, surrounding himself with a support system of talented colleagues has proven invaluable. He says, “A mentor program really helps you fine-tune your approach and get to a high degree of success. There are also many programs that help you meet other consultants, which helps build smaller partner teams you can learn from and educate yourself through.”
Independent franchise consultants can also seek out peer mentors through networking channels like the International Franchise Association and LinkedIn. Many franchise consultants take part in industry associations and events, sharing first-hand experiences and field-tested insights with professionals at all stages of their franchising careers.
Establish Strong Relationships
As a franchise consultant, you are always considering the needs of two distinct groups: prospective franchise owners and franchisors. Your success depends on your ability to build lasting, respectful relationships within both segments.
Prospective franchisees, on one hand, will look to you to provide thoughtful guidance in their quest to decide if franchise ownership is right for them. Good communication skills are vital in establishing trust and getting to know each entrepreneur you work with. As a consultant, you should develop a system for tracking their goals and interests. It is also important to identify each candidate’s strengths and weaknesses as a potential franchise owner—this information can help you narrow the field of ideal franchise brands.
When it comes to franchise options, prospective franchisees will expect you to be intimately familiar with a wide variety of companies. This includes knowledge of each franchise brand’s track record, contractual agreements, company culture, and franchisee satisfaction. Your roster should ideally include franchises of all types, sizes, and investment levels. If your inventory is limited to just a few brands, candidates might question whether you have their best interest at heart or are steering them in a certain direction purely for your own financial gain.
This brings us to the second group of key stakeholders: franchisors. Establishing relationships with a diverse range of franchise brands is one of your primary responsibilities as a new consultant. If you are part of a larger consulting firm, you will have access to its existing network of partner franchisors—a huge advantage to any consultant. If you are operating independently, you will need to do the legwork to introduce yourself to key franchise brand representatives and learn what they are looking for in a qualified candidate.
Invest in Marketing Strategies
Solid marketing efforts are a necessity in nearly every realm of business, and they are just as important when operating as a solopreneur. As a franchise consultant, your reputation and experience are what set you apart in the field. You need a way for prospective franchise candidates to find information about you and feel reassured that they are choosing a franchise industry expert. You also need to set up various channels for qualified lead generation.
What are some marketing must-haves for new consultants? A professional website is one of the best ways to communicate your skills and enable individuals in search of franchise guidance to contact you. Digital search engine marketing (SEO and SEM), done with the help of a specialized agency, can get your business into top search results, with endless ways to narrow your target audience. And don’t forget marketing collateral—printed brochures, business cards, postcards—as a great way to boost awareness of your services in the course of networking or via a targeted mailing.
Marketing, like franchise consulting training, is an investment. But it’s one that will pay off in increased referrals, leads, and valuable business connections. Do your research to see if the franchise organization you are joining offers any marketing support as part of your affiliation. At FranServe Inc., for example, we provide ongoing support to help our consultants generate prospects, including a customized website; high-quality collateral; SEO, SEM, and social media marketing; insightful webinars; and access to a wide range of lead generating services.
As husband-and-wife FranServe consultants Jack and Jill Johnson say, “[Consulting] is an excellent investment opportunity. For those that have a strong desire to help others and become their own boss with a wide diversity of proven and emerging franchise brands—this is your model. The FranServe team will provide you with the support, training, and infrastructure you need to be a high-performing franchise consultant.”
Become a Leading Franchise Consultant with FranServe Inc.
When it comes to benefits, training, resources, and support, FranServe Inc. provides franchise consultants with the tools they need to successfully grow their own consultancies. We go beyond the basics to offer comprehensive operations and management training and support. Our goal is to provide each of our consultants—as they launch their firm and even two, five, ten years into their career—with the most current business development strategies and ample marketing resources.
With the industry’s largest number of contracted franchisors, FranServe works nearly 600 franchise brands—including both established legacy companies and hot, up-and-coming concepts—across more than 80 industry categories.
Ready to join the world’s largest franchise consulting organization? Contact us today to get started.