Multi-Unit Franchise Experts

Frequently Asked Questions

What does a franchise specialist do?

A franchise specialist assists candidates with finding the ideal opportunities for them. As a franchise expert, they can answer any questions candidates may have using their firsthand experience. The franchise specialist is there for you every step of the way!

How much does a franchise consultant cost?

Working with a franchise consultant or franchise broker is FREE! It costs no money to you to seek their advice, so take advantage of the opportunity to work with a franchise consultant.

Are franchise consultants worth it?

Yes! When you work with a franchise consultant or franchise broker, you have access to a franchise expert who has knowledge of everything you need to know about franchising. From the FDD and franchise agreement to discovery day and validation, the franchise consultant leads candidates through the entire process.

How does a franchise consultant make money?

While working with a franchise consultant, or franchise broker, is free to the candidate, the expert makes a commission when franchises are awarded. A franchise consultant has the ability to make their own hours and be their own boss. This means that the franchise consultant’s salary can range from an executive-level salary to an additional revenue stream during retirement.

Can you buy a franchise with $20,000?

Yes, there are many franchise opportunities out there that you can invest in for as little as $20k! Franchises with lower initial investment requirements typically fall into the category of home-based and can cover cleaning, mobile pet grooming, automotive and home inspection services. There are also service based franchises that cover tutoring, senior care, lawn care and landscaping, residential cleaning, and event planning services. Whether you’re a novice or franchise expert, these opportunities are for everybody!

How do franchise resales work?

A franchise resale is when someone purchases an existing location from a previous franchise owner. Before investing in one, you and another franchise specialist need to read the FDD and franchise agreement. A valuation of the business (either you or the seller hires a company to perform it) also ensures that you can trust the value of the business. No matter the reason for the resale (personal reasons, retirement, financial considerations, or changes in circumstances), you should find out why the franchise owner decided to sell.

By speaking with a franchise consultant, other franchise owners and the franchisor (who should also agree to the sale) about the seller, you can better determine if buying the business is a good investment. You can also request at least the last three years financial statements from the seller and franchisor to ensure the numbers match up. If you decide to buy the franchise, you may have to pay a transfer fee, and you need to decide if you would like to keep the existing staff members on the payroll.

Which is the best franchise to own in the US?

You don’t need to be a franchise expert to know that franchising has produced some of America’s most iconic brands. You can’t watch television without seeing commercials for Wendy’s burgers, Planet Fitness’ membership sales, 7-Eleven’s great deals, or Visiting Angels’ life-changing senior care services. But one brand stands out from the rest: McDonald’s. With a proven business model, extensive training and support, and a strong marketing presence, McDonald’s global network of franchise owners benefit from high brand recognition and consistent demand for its products. The Golden Arches is in a league of its own and is a blueprint for how franchises should run.

What are the most profitable franchises with low startup costs?

A low cost franchise that yields high profits is the best of both worlds! Examples of these franchises include JAN-PRO, a commercial cleaning franchise that allows entrepreneurs to benefit from multiple revenue streams, and home-based or mobile operations, which keep overhead low. Jazzercise franchisees generate revenue through class fees, memberships, and merchandise sales, allowing it to be both a profitable and low-cost investment. Wise Coatings, a leading concrete floor coating company, is also an affordable opportunity that boasts seven-figure average annual sales.

What are the top 3 franchise industries?

It’s no secret that franchising is booming across a variety of industries. Three industries that consistently top lists for the best franchise categories are food and beverage (fast-food, coffee, pizza), health and fitness (gyms and fitness centers) and personal services (hair salons, beauty spas, massage therapy centers, cleaning services, pet grooming). Brands in these industries are easy for a franchise expert like a franchise consultant, or franchise broker, to sell due to their high demand, replicability and scalability.

Which franchise is best to invest in?

The “best” franchise to invest in is entirely based on the individual’s interests, background, and financial resources. It is also incredibly beneficial to align with a brand’s values as that adds deeper meaning and purpose to the business. Franchising boasts countless opportunities that are accessible to a novice and a franchise expert.

What is the cheapest franchise to start in USA?

As any franchise expert will tell you, the initial investment cost for a franchise business depends on several factors: franchise fees, equipment, inventory, leasehold improvements, and other startup expenses. The franchises with the cheapest investments are generally home-based and require little to no equipment and employees to run the business. According to business.com, examples of low cost franchise opportunities include Cruise Planners, Proforma, Vanguard Cleaning Systems, and Stratus Building Solutions.

What is the best franchise to start?

Many business owners across a variety of sectors (home services, senior care, education, fitness) take the leap into becoming franchisors because they believe that their concept is scalable and replicable by franchise partners. Additionally, the brand offers an in-demand product or service that many communities benefit from. While there is no one right answer to what is the “best” franchise to start, the concept should be scalable, replicable and offer an in-demand service that is easily explainable by a franchise consultant, or franchise broker. This is true for home-based businesses and concepts that require a brick and mortar location.

Where is the best place to look for franchise opportunities?

There are several places to look at for great franchise opportunities! Franchise directories include FranchiseDirect.com, FranchiseGator.com, Franchise.com, and Franchise.org. These platforms allow entrepreneurs to look at brands based on criteria such as industry, investment level, and location. The International Franchise Association also has a comprehensive search tool! By attending franchise expos and trade shows, not only can you learn a lot about great brands, but you can also meet passionate like-minded professionals that can be added to your network. Examples include the International Franchise Expo (IFE) and Franchise Expo West.

An expert franchise consultant, or franchise broker, can help you on your journey by connecting you with franchisors who want to partner with candidates like you, and have in-depth knowledge of industry trends and insights into franchise agreement and financial considerations. It’s also beneficial to look at publications like Entrepreneur Magazine’s Franchise 500 list and Franchise Times, which regularly feature profiles of successful franchise companies and emerging trends in franchising.

How can I buy a franchise?

There are several steps in the process of investing in a franchise. To begin, do a self-assessment to determine if franchising is right for you. Ask yourself questions like: What are my long-term goals? How much time and resources am I willing to invest into the business? What are my skills and interests? The answers to these questions will guide you as you do research on specific industries and brands that fit your criteria. In addition to meeting with a franchise consultant, or franchise broker, understanding the market need in your desired area is. You want to invest in a franchise that meets the demands of your desired demographic and gives you the best opportunity for success.

Once you’ve narrowed down the brands that meet your criteria, reach out to the franchisors, who have contact information on their franchise pages. You will have to provide information about your net worth, working capital, desired area, and more. If the franchisor believes that you are a potential fit, you’ll be invited to discovery day where you can meet the team, tour the facilities, and ask questions. By attending these events, you get a better understanding of the franchise and its culture. You also get to review the Franchise Disclosure Document (FDD), which provides detailed information about the franchise opportunity, including fees, obligations, and the franchisor’s history.

Following discovery day, you do even more due diligence by speaking to franchise owners in the system and meeting with a franchise expert to review important documentation like the FDD and franchise agreement and discuss financing. You attend training after investing in the franchise and secure a location if the business requires one. From there, you follow the system and utilize the franchisor’s support for business success!