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How Franchise Consultants Provide Value

A successful business owner understands how franchise consultants provide value for new business ventures. Utilizing a consultant gives a business owner the tools needed to make their business succeed. Starting a new business can be very hard for anyone. Without experience and the knowledge how a franchise works, a new franchise owner must receive guidance from a consultant.

A consultant helps with all aspects of franchises. There are consultants that specialize in different areas. A franchise consultant does not only provide help for new business owners. They provide help to owners of franchises sell their part of the franchise to others.

The Federal Trade Commission Franchise Rule on Franchising altered the rules that franchise consultants must follow. In the past, a person could call themselves a franchise consultant without having a lot or any experience. This was very misleading to people who thought they were receiving advice from a trained professional with experience. Now, a franchise consultant has to reveal their educational history and their work experience to prospective clients. This way, a future client knows who they are hiring to trust with their decision about franchising.

Usually, a franchise consultant does not charge for their service upfront. It is customary for them to be paid from the sale of the franchise. There are consultants that charge for their services before the sale of the franchise. It is best to understand fully how the consultant charges for their services prior to hiring them.

There are consultants that are also attorneys. Handling franchise can be frustrating because of all of the paperwork. Many attorneys who specialize in franchises have a strong background in real estate law. These attorneys are equipped to understand all of the legal implications that go along with franchises.

A franchise consultant can provide their clients with great value. They work with them to help them understand how to purchase and sell franchises. Consultants are invaluable to someone who has no experience with running a franchise.

About the author

Rob Bennett

Rob had served in the corporate-world for 18 years filling various technical capacities, from structural design to project engineer. His experience lends to FranFinders strategic planning, systems design and optimization.

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