We have seen an increase in the number of consultancies which specialise in franchise development. Navigating you and your business through such a minefield can be fraught with danger. So how do you identify which franchise consultancy to use?
There are a number of simple steps that The Franchise Company suggest which can save you a lot of time and hassle (not forgetting the cost!). Here's what to look out for:Is the consultancy affiliated to the British Franchise Association (BFA) - affiliation to the BFA gives you a good idea of the quality of the work a consultancy produces. Remember, not every consultancy will be eligible to become affiliates, so those that do are usually providers of a high standard of franchise consultancy.Is plenty of information provided - a good consultancy will provide you with lots of information on their services. Don't be afraid to ask questions and certainly talk to more than one provider. Ask about the process, the cost and of course the individual consultants who provide the service.Client references - always ask for client references. These are crucial for you to get an idea of the types of businesses a consultancy has worked for. And they validate consultancies claims.Personality matters - if you are going to franchise, then working with a consultant you get on with is important. Both you and the consultant will work hand in hand, so make sure the chemistry is right between you.Consultancy fees - don't be afraid to discuss the issue of fees. If budgets are tight, a good consultancy will help you with a flexible payment structure and work with you.Be wary of sales pitches - if the consultant is promising you instant success and it sounds like a sales pitch, then avoid them like the plague! Franchising is not a panacea to all your problems and often entails a lot of hard work. If its sounds to good to be true, then it most likely is.Gut instincts do work - if the personality or the consultancy doesn't feel right, then trust your instincts. Remember, you're a successful businessman or woman and you've got this far with your instincts!
So now that you know what to expect, franchising should be a pain free exercise. The Franchise Company are keen to speak to you to learn how we can help. Contact us now for more information.