What is a business broker, you ask? Business and franchise brokers help the businesses they serve to expand, to find buyers, or to be sold. In particular, franchise brokers help businesses to expand by teaching them the ins and outs of becoming franchises. Franchising is an exciting way to do business in which successful entrepreneurs leverage their successful business into multiple locations. In this post we’ll take a quick look at some of the ways businesses can benefit from using franchise brokers.
Franchising is a great way for business owners to expand their business, leveraging the strong brand names they’ve already developed into greater earnings for themselves. However, the process of converting an existing business into a franchise business can be complicated and is fraught with plenty of paperwork, legalese, and important questions. Transworld business brokers are experts, and have taken part in a comprehensive training and support program that has left them well-prepared to help business owners navigate these challenges. Business owners know they can rely on Transworld franchise consultants to make the process of converting their business to a franchise as simple as possible.
Helping to Find Prospective Franchisees
If you’ve asked “what is a business broker?” chances are you’ve considered the buying and selling of businesses. One important job business brokers do is to identify potential buyers for businesses that are up for sale. Similarly, Transworld franchise consultants help businesses to franchise themselves by identifying potential new franchisees. With your expertise and contacts, you’ll have your finger on the pulse of the business community, including who is looking to buy and sell. This insight helps franchise consultants to make the perfect match between franchisor and franchisee.
Developing a Strong FDD
The franchises disclosure document (FDD) is one of the most important documents a new franchisor needs to develop. The FDD lays out everything about a business for prospective franchisees, from the performance of current locations to any potential legal issues. Franchisees rely on the FDD in order to decide whether or not to invest in a franchise, so it’s more important than ever that the FDD be clear and comprehensive. Putting together this document is one of the most important services a franchise consultant can provide.
Hopefully this post has addressed the question “what is a business broker?” to your satisfaction. Contact us today to learn more about the services provided by the franchise consultants at Transworld, and to learn how becoming a Transworld franchisee can be your next career.