When you become a franchise consultant with Transworld, you will enjoy one of the best training and support programs around. Even if you have little or no experience, we can teach you everything you need to know to become a business advisor and franchise consultant. Still, if you’d like to take a quick look under the hood, here are a few tips that we believe help our franchisees to negotiate deals between clients and buyers.
1. Respect Their Confidentiality
As a broker, you will be privy to sensitive information about the businesses you represent. One of the reasons businesses choose to work with brokers instead of putting out a “for sale” sign is because they don’t want to advertise that they are for sale. Helping to protect the privacy of the businesses you represent will help you develop a reputation as a trustworthy broker who business owners can turn to when they need advice or when they would like to put their business on the market.
2. Spend Time Getting to Know the Businesses You Represent
How can you make the best possible decisions for the future of a business unless you understand it inside and out? If you are representing a restaurant, spend some time in the kitchen or eat a meal. If you are representing a bookstore, spend some time browsing and get to know the kinds of titles they stock. See if you can get to know any regular customers. This investment of your time can translate into valuable information to potential sellers who want to understand more about the business than can be summed up on paper.
3. Make Me a Match
As the party who is privy to exactly what kind of buyer is right for a business, it’s up to you to make the perfect match between the buyers and sellers you work with. Your knowledge of both parties is instrumental in these transactions. What line of work is the buyer looking to go into? How much business experience do they have? What is the top dollar price? What is the business’ lowest dollar price? Is the business looking to sell or to expand by franchising? Having a strong understanding of the needs of both parties is key when it comes to brokering a great deal.
These are just a few of the ways that business advisors and franchise consultants can negotiate deals between your clients and their buyers. If you’d like to learn more about becoming a franchise consultant or business broker with Transworld, visit Transworld Business Advisor or give us a call at 1-888-920-1852.