A lot of success can be found in the franchise business if you know how to do it right. Besides having a good concept and financial stability, having the right resources at your fingertips is crucial if you want to make your franchise a household name.
One important but often underestimated resource is having a franchise consultant on your team of advisors. Whether you are a franchisee or a franchisor, a franchise consultant can help you grow your business more efficiently.
If you are a potential franchisee, then a franchise consultant can help you pick the best franchise to join. They will help you go over your finances and make a good list of what you are looking for in a franchise business. They can also help you with all the legal paperwork. They should be able to steer you away from franchises that are not a good fit for you. Because they know the industry so well, they will be able to connect you to so many more potential franchisors then you could on your own.
Business owners looking to become a franchisor can also benefit from the services of a franchise consultant. If you are a business owner looking to franchise your business, a franchise consultant can help you every step of the way, from everything from writing up the franchise agreements to marketing materials. They can also help you recruit potential franchisees. If you have never been a franchisor before, it helps to have the experts backing you up.
Choose Your Consultant Carefully
As a potential franchisee, one thing you have to watch out for is if the consultant is being paid for by the franchises. If you are getting their services for free and the consultant earns a commission from the franchise you buy into, it can be problematic if you are not careful. You need to make sure they are not going to push a franchise on you just to make a sale. You want to make sure they have your best interests at heart. It is always a good idea to ask for referrals so you can see what other clients have said about their experiences with this consultant. Also, do some digging on your own.
Not every franchise consultant offers the same services so make sure you research exactly what services a particular consultant can provide. Common services include development of new franchise programs, assistance with legal documentation as well as the development of all operations and training documentation and strategic planning to grow your franchise business. Some franchise consultants will also offer marketing help including the design of web pages and recruitment materials including a logo and help existing franchisors build their leadership team and conduct sales and marketing audits as well develop benchmarks and best practices.
While a good franchise consultant can save you time and money as you pursue your dreams, unfortunately not all franchise consultants are created equally. Here are some tips on what to look for in a franchise consultant:
- Level of Experience – Especially if you are a new to the franchise industry, you will want to choose someone who has years of experience working in the franchise industry. Particularly, they should either have experience as a franchisee or as a key member of a franchisor’s leadership team. Ask for solid evidence of their work to back up their claims.
- Level of Commitment – Sometimes people choose to become a franchise consultant for extra money to supplement their main business dealings and don’t want to invest a lot of time into it. This is not the person you want working for you. You want a franchise consultant who will give you the undivided attention you deserve.
- Reputation in the Industry – Reputation in the business world is very important. You will want to work with a consultant that understands the industry inside out and has a broad enough knowledge to find the franchise that meets your individual needs or goals. When the franchise consultant only spends a few minutes getting to know you and spends most of it talking at you instead of asking insightful questions and listening intently, this is usually a big warning sign. If the franchising consultant only works with a handful of franchise companies and is going to suggest one of them even if the fit isn’t right, then he or she doesn’t have your best interest at heart.
Let MBB Management Help You
We can all use a little help to achieve our dreams. Why not consider hiring a franchise consulting company like MBB Management in Philadelphia to help you?
As the top franchise consulting firm in Philadelphia they specialize in food and beverage consulting working with local restaurants like Zac’s Burgers, national ones’ like Famous Chaps Pit Beef and international ones like Tony Luke’s, helping them reach their full potential. And they can help you too.
MBB Management focuses on bringing you the best tools and expert advisors to provide a solid path to success. They work primarily with restaurants looking to expand their business through becoming a franchisor. Your one location should already have been proven successful before considering franchising it. MBB Management also works with restaurants who are already franchisors, but who are looking to improve their system. Consultants can aid you in hiring personnel as well as increasing efficiency and quality and boosting up franchise sales.
Some of the services MBB Management offers you include franchise development for new franchise programs, strategic planning for franchise growth as well as help with all the legal documentation involved. They also offer assistance with developing operations and training documentation and franchisee recruitment marketing strategies.
MBB Management also works with other businesses looking to franchise as well, including manufacturers, dealers and distributors. For existing franchisors, services include franchise system best practices and benchmarking and organizational audits, improved franchisee support systems and franchise sales coaching.
Other services include brand development, name and logo selection and design and due diligence assistance for mergers and acquisitions.
Overall, the knowledgeable and experienced staff at MBB Management can provide you with hands-on consulting to help you grow your franchise by pinpointing the areas that you most need support. If you are considering a food and beverage consulting company in Philadelphia then consider MBB Management.