3 Franchise Opportunities beyond Store Ownership

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When you think of franchising, do you picture a retail, food, or service business with a brick-and-mortar location? If so, you might think that franchising isn’t right for you. You may be surprised to learn that there are franchise opportunities available in the consulting field that don’t involve store ownership. Investing in a consulting franchise can allow you to chart your own course within the framework of a proven business model and provide you with essential training and support from an established franchisor. Here are three such opportunities to consider:

franchise opportunities

Franchise Consulting

If you’re business savvy and have a passion for helping others attain their goals, franchise consulting may be your ideal vocation. As a consultant, you can put your business acumen to work to help clients clarify their objectives and guide them through the labyrinth of available franchise opportunities to find one that’s the right fit for their situation. Franchise consulting involves much more than selling a client on a particular franchise concept, though. In a consultant role, you’ll:

  • Get to know prospective franchisees to learn about their business experience, skills, goals, financial situation, and desired investment level
  • Research available franchise opportunities in different industries to narrow down the choices to those that match your clients’ needs
  • Prequalify your clients to ensure that they meet the investment and background criteria each franchisor has established
  • Present a short list of franchise opportunities to your clients and advise them how to perform due diligence on each one
  • Introduce your clients to the franchise companies they choose
  • Act as a liaison between prospective franchisees and franchisors
  • Provide advice to clients once they’re matched with a franchise to ensure that the buying process goes smoothly

Franchise Development

As a development consultant, you can help put established owners on the right path to duplicate their business through domestic franchising, international franchising, or both. Franchise development professionals provide an array of key services to business owners, starting with a feasibility study to determine if their concept can be franchised. They also help owners of single businesses develop and implement all the essential elements that aid in their transition to franchising, such as:

  • Franchising strategy
  • Company branding
  • Business plan and financial projections
  • Operations manuals
  • Training programs
  • Franchise disclosure document (FDD)

Business Brokering

Unless you’ve bought or sold a business, you may not realize that this type of franchise exists. Business brokers typically represent owners looking to sell or act as a buyer’s agent. In some states, you can act as a dual agent and represent both parties.

As a broker, you’ll list businesses for sale and assist owners by:

  • Providing an accurate valuation for their business
  • Developing and implementing a marketing plan
  • Identifying and prequalifying potential buyers
  • Creating a business review or offering summary to give to qualified prospective buyers who’ve signed a confidentiality agreement

You can also match potential buyers with businesses for sale and provide them with services like:

  • An analysis of available businesses
  • Help accessing potential financing sources
  • Guidance and advice about performing due diligence
  • Assistance with writing an offer to purchase

Additionally, you can help the buyer and/or seller navigate the purchase and sale process by:

  • Arranging meetings between the parties
  • Assisting with completing all the necessary paperwork
  • Negotiating the purchase price and transaction details
  • Coordinating the closing

If these franchise opportunities pique your interest, you may be a good candidate for a Transworld Business Advisors franchise that combines these three complementary revenue streams into one. To learn more about the Transworld opportunity, contact us today!

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