There are a lot of different franchise options for you to consider that provide all kinds of different services and products, from hot dogs or ice cream to business signs or computer repair services. However, there’s another option that differs quite a bit from these franchises—business brokerage franchises. If none of the franchise options you’ve looked at have tickled your fancy, then you should consider looking into a business brokerage franchise. The following are some common questions that you might have about investing in and running a business brokerage franchise in general:
1. What does running a business brokerage franchise entail?
Being a business broker means that you will work as an intermediary between business owners that are attempting to sell their businesses and buyers. Some of the things you’ll be in charge of doing include evaluating the value of a business, marketing the business, finding qualified prospects that are interested in buying the business, negotiating terms, and helping the sale go through.
2. What is the demand like for business advisors?
There is a very high demand for business advisors because of the fact that many business owners have never sold a business before. They may be good at selling their particular products or services, but they probably don’t even know where to start when it comes to selling their company. Most owners don’t have the resources or knowledge about how to find potential buyers, and probably don’t even know how to accurately determine the value of their company.
Because of all of this, a business advisor offers an invaluable service to business owners. This is reflected in the growth of our Transworld Business Advisors franchise system, which has seen steady growth over the past decade. As of 2016, we have 171 U.S. franchises and 23 international franchises.
3. Do I need to have a business background?
It might seem like you would have to have some kind of business degree in order to be able to work as a business advisor. But this is not so with our Transworld Business Advisors franchise. First of all, we provide all of our owners with thorough training so that they will learn everything they need to know in order to run one of our business brokerage franchises.
Secondly, we have implemented a proven system with operations that are simplified and streamlined to the point where you don’t require industry-specific knowledge to run and operate one of our franchises. We also provide continual support to all of our franchise owners—whether it’s with basic guidance and advice or technical support.
4. How much does it cost to set up a business brokerage franchise?
Business brokerage franchises are one of the most affordable franchises to invest in. This is because unlike other franchises, you don’t need much to get started. You won’t need to open up a store—you can technically operate your business brokerage franchise from home. This means that you won’t need to hire a staff, either. You also won’t need expensive equipment to produce your product—all you’ll need is a decent computer and Internet access to provide your brokerage services. All of this means that the overhead costs for running your business will be very low as well.
These are four of the most common questions that are asked about running a business brokerage franchise. If you are interested in investing in a business brokerage franchise or you have more questions and would like more information, contact us at Transworld Business Advisors today.