Which Franchises do Franchise Brokers
Represent?
When most people think of franchises very commonly the first
names that come to mind are Subway, McDonalds, Quizno's and
the other leading fast food type operations. The truth is these
massive franchise systems only account for a tiny fraction
of the franchise opportunities available today. There are over
2,000 franchises to choose from in US alone representing over
75 different industries!
The massive groups like Subway and McDonalds generally do
not work with franchise brokers as they tend to already have
a higher demand for their opportunity than what is acceptable
or available in terms of qualifications, investment amounts
and available territory. Franchise brokers typically work smaller
yet still major players in the franchise industry such as residential
and commercial cleaning franchises, automotive franchises,
business to business services, residential services, senior
care, staffing, food and beverage and more.
A strong franchise consulting firm will represent a wide selection
of franchise types but use enough discipline to represent only
the premium brands within each category. There are lots of
franchisors who will gladly work with franchise brokers but
the truth is many do not have very solid nor proven business
models and these are not always the best franchises to be exploring.
One of the most compelling reasons to buy a franchise is the
fact that it's a proven business system so beware the franchise
broker groups that represent a long list of non-proven franchises
that are desperate to grow.
The most productive franchise consulting firms in the industry
such as FranNet and The Franchise Select Group actually represent
some of the shorter lists of franchisors while some of the
least productive groups in the industry are the groups that
build their list of represented franchises based on quality,
not quality.
Despite what it may seem at first glance, there is little
if any correlation between a group that represents the most
franchises and the number of deals that group and it's brokers
do each year. When it comes to exploring franchises quality
should always take priority over quantity.
Did you know?
In many cases the franchise broker groups representing hundreds
and hundreds of franchises have only had successful placements
with a fraction of their represented franchises?
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