Are you interested in a rewarding, work from home opportunity that offers the chance to help others navigate through the franchise discovery process? Then read more below about how to become a franchise consultant through Business Alliance, Inc.
Franchise businesses can be found in just about anywhere in today’s city landscape. Statistics show there to be nearly 800,000 franchise establishments in the United States outputting over $760 billion and employing 8 million people.
Being part of a successful franchise is a dream for many people, but most do not have the background or understanding of how to even start the franchise discovery process. Often times, the search is based on emotional reasons or experiences they have had.
This is where a Business Alliance, Inc., (BAI) Registered Franchise Consultant can help to ensure all the key pieces seamlessly fit into place to support a methodical process of discovery.
Being a Registered Franchise Consultant can be a rewarding opportunity to be your own boss, work the hours that fit your lifestyle, and obtain the satisfaction of assisting the many individuals looking for direction on how to navigate through their franchising journey.
What Is A Franchise Consultant?
A successful franchise consultant is equipped to provide guidance, information and support to those individuals looking to find a franchising opportunity they qualify for, meets the criteria of the franchise, and the goals of the individual. .
A franchise consultant can help match a franchisee with the best business brands by ensuring both parties are a good fit for the business agreement.
A franchise consultant helps minimize the time invested and risk involved with choosing the right franchise opportunity.
How Do I Make Money As A Franchise Consultant?
A franchise consultant is typically paid a percentage of the upfront franchise fee for the franchise referral. This percentage can range between 40% – 50% of the franchise fee and equates to a commission between $15,000 to $50,000 per referral.
It is recommended to talk to BAI franchise consultants to further understand the earnings potential and experiences they have had with their franchise consulting business.
What Kind Of Investment Is Required To Become A Franchise Consultant?
The investment required for Business Alliance, inc. $23,900 to cover all training, on-boarding, and full access to all proprietary tools to run your franchise consulting business. Working capital is also needed for marketing expenses to launch your business.
BAI offers a unique opportunity to save additional money by not charging monthly or annual membership fees, which is a common practice for other franchise brokerage firms.
What Qualifications Do You Need To Become A Franchise Consultant?
There are many factors to consider when trying to determine whether you are a prime candidate to pursue a franchise consultant opportunity.
Marketing and sales experience are beneficial, however this is a consultative role. Having the willingness, desire, and compassion to help clients succeed in obtaining their entrepreneurial goals would be a great foundation to start with.
In addition, if you enjoy interacting with people, have an insatiable curiosity to analyze your client’s skill-sets, business acumen, investment goals, and have a natural passion to unselfishly help others, then a franchise consultant opportunity may be right for you.
How Do I Achieve Success As A Franchise Consultant?
Acting as a liaison between aspiring franchisees and franchise companies can be an exciting opportunity, but challenging if you do not have the training, tools, and contacts available.
Being motivated and having the desire to help potential franchise owners move forward with their endeavors is a good start. But, having the right skill sets to be an effective franchise consultant can make all the difference to having a successful consulting career.
Business Alliance, Inc. looks at many factors during the approval process. The following skill sets can be helpful for anyone looking to become a franchise consultant.
- Business Savvy – Although a degree in business is not necessary to become a franchise consultant, you should possess a good understanding of business concepts and be able to navigate through business deals. Being business savvy can include a wide spectrum of competencies such as financial acumen, insight into the business markets, understanding economic factors that may impact business performance, and understanding overall business strategies.
- Organizational Skills – Being able to juggle client meetings, perform research activities, and work on new client leads can be an exhausting experience if your time management skills are lacking. One of the biggest components of effectively managing your time is being organized. Organizational skills are needed to manage your calendar and ensure you can devote enough time to take care of all your responsibilities. This can help avoid the risk of falling behind and putting the closing of any potential deals in jeopardy.
- Communication Skills – Being an effective franchise consultant would not be possible without the ability to listen and communicate clearly. It’s important to listen and clearly understand your client’s needs, wants and goals. It is also just as important to be able to give clients clear direction and confidence that you as a consultant can successfully guide them through the franchise discovery process.
- Presentation Skills – Having solid presentation abilities can go a long way in getting your clients to understand the franchising process. Whether it’s using Powerpoint or any other means of presenting, some clients may be more comfortable with understanding concepts using visual aids such as charts and graphs. Having solid presentation skills can make all the difference in closing a deal.
- Computer Skills – Most franchise consultants work in a home office with clients throughout the country. This is a national, as well as international business. A franchise consultant needs to possess computer skills to effectively communicate with their clients through email, sending attachments, on-going marketing tasks, and tracking communications.
Benefits Of Being A Franchise Consultant
A successful franchise consultant is afforded freedoms of working as their own boss and controlling their own destiny.
Gone are the days of stressing out on the back and forth commute to work. No more challenging work schedules or fear of being micromanaged. No more worrying about the corporate hierarchy structure and where you fit into the puzzle.
Being your own boss will allow you to dictate your work hours, work from home on a regular basis, become the primary decision-maker, and obtain an overall greater sense of satisfaction and fulfillment that you are helping others achieve their business goals and dreams.
Benefits Of Working With A Franchise Consultant
The benefits provided by a trusted franchise consultant cannot be understated.
Many have found that by having a consultant by their side when attempting to purchase a franchise can help lead to a smoother and more comforting experience.
A consultant can save time and energy when it comes to reviewing and understanding the discovery process. Additionally, they provide additional resources that can include funding companies or franchise attorneys that specialize in the franchise industry. Franchise consultants can reduce the likelihood of making mistakes during the process that can negatively impact franchise purchases.
Overall, a franchise consultant can offer peace of mind in knowing that a professional is looking out for the best interest of the client and can guide them through the entire franchising purchase process with confidence.
What Do I Get When I Become a Registered Franchise Consultant With BAI?
BAI offers an exceptional four-phase program that includes personalized one-on-one training , which helps build the solid knowledge base needed to succeed in this role.
The proprietary tools are available 24/7 for all BAI consultants. We provide the backing of a corporate team, who monitor your progress and provide coaching along the way.
We also offer critical ongoing support, which includes business development webinars, lead generating market strategies, round-table sessions with peers, trainers, regional in-person events, and executive team members to help strengthen relationships and provide valuable insight into your franchise consulting career.
Why BAI Chooses You?
Our reputation, performance, and results confirm the importance of our selection process. The success of BAI starts with the foundation of exceptional service from our franchise consultants and corporate team to continuously grow our franchise brands.
Franchise businesses have become such an integral part of our current economic landscape and successfully growing these business ventures are the key to maintaining a healthy economy. This magnifies the importance of franchise brokering and the critical services we offer as we continuously grow future franchising opportunities.
Here at BAI, our standards are extremely high when it comes to working with high-quality, Registered Franchise Consultant candidates.
If you have a strong desire to be your own boss and are truly passionate about building relationships and making a difference in the life of aspiring entrepreneurs, then becoming a Registered Franchise Consultant may be a great fit.
With 30 years in the business, we have helped countless brands and entrepreneurs come together to form mutually beneficial business relationships.
These relationships have led to successful business expansions and an ever-expanding group of qualified franchise consultants looking to make the future bright for aspiring franchise owners.