The Best Franchise Now was formed in response to an underserved market in the industry for high-level, advanced education and training on purchasing a franchise. The world of franchising has become so complex and intricate that many potential buyers of franchises do not know how to decipher the vast information they received about each franchise. The options for purchasing a franchise are increasing exponentially, coupled with the amount of information available on each concept, there’s a great deal of data for franchise buyers to sift through. The Best Franchise Now recognized that there was a real need to assist the franchise buyers, therefore, we provide advanced research tools, consultative services and due diligence assistance, but also help prospective franchisees qualify for the franchises they desired to invest in.
We have partnered with experts in the industry and created a company that is built on helping you achieve your dreams of business ownership. We make this process easy for you throughout the research and award process, but also know it is important to have ongoing training and continued education after the franchise has been awarded. Because of our relationships, we are able to provide you with a full package of consulting services and ongoing support and training.
When you buy a house you go through a stringent process of checks and balances to make sure you know exactly what you're buying BEFORE you lay down your life savings. When you are looking into purchasing a franchise even more is at stake. You are considering a purchase that will determine your future income and stability.
For this reason, it is extremely important to take the time to do your research and align yourself with professionals. Franchise brokers and consultants know a lot more about this business than you do. Novice franchise buyers could inadvertently end up in a very bad position if they don't know what to look for.
All FBA consultants go through an extensive training program that not only consists of broker processes but also includes legal training, industry training, client training, profitability studies, franchisor training, and more. They are provided with a plethora of tools to help them examine a franchisor's continued viability and profitability. That knowledge is then passed onto you.
Franchise consultants gain a tremendous amount of insider information about franchisors successes, failures, financials, validation with other franchisees in the system, processes, support, and much more.
While some information is protected and unable to be disclosed, consultants can make sure that you are headed in the right direction.
If you indicate you want a business that does not match what your actual goals are, we can stop you and redirect you to one that does match you goals, ensuring that you get what you want!
Franchise consultants a great deal of time researching for you. They weed through and examine hundreds of franchises to find the ones that are closest in line with what you have requested.
Get prepared with the right questions
Just because you ask the franchisor questions, doesn’t mean they ask the right questions. There are certain questions that must be asked in order to properly evaluate a franchise. Consultants provide you with these questions.
Franchisors use a different language. They have a whole set of terms not used in regular business environments. They also have specific guidelines and process they must follow in order to be compliant with FTC guidelines and their own industry practices. After all this is franchising, it is all about following a system and a good franchisor does exactly that. They follow the system that has been laid out and expect anyone interested in working with them to do the same. If you don’t understand these guidelines and general process it can be very confusing and frustrating. Consultants can educate you on these processes, making your experience much more enjoyable and easy.
Consultants have access to some of the best franchise attorneys and advisors in the franchise industry. Using a consultant allows you access to these professionals that can get you previously unheard of negotiations on your franchise.
Franchising is an award process. Not just anyone can buy a franchise. You have to go through interviews, background checks, financial requirements, personality assessments and more. Each franchisor has different rules, but typically, the more selective they are the better the franchise. During the awarding process the franchisor typically shares their thought with the consultant on whether on not they are interested in accepting the client into their system. They also inform the consultant why they are hesitant if that is the case. The consultant can then advise the client on what needs to be done to increase their chances of being awarded, or they can advise them to move to another concept if that is a better option.
Work with highly trained professionals within a professional organization
Members of the FBA have access to and are actively engaged in ongoing advanced training that is not available to them anywhere else. Therefore, our members are the best in the industry. They are professionals with credentials to prove it.
Consultants in the FBA know how to do business profitability studies on franchises. They know what to look for in Franchise Disclosure Documents to analyze the sustainability of a franchise. With that knowledge they are able to direct you to franchises that match your goals.
Franchisors pay for consultants to handle the qualification and education of prospective franchisees. Consultants are paid from the franchisor's marketing budget. Under FTC guidelines, franchisors are not permitted to change the price of the franchise fee regardless of whether a consultant was used or not. The prospective franchisee wins in this situation because they are able to receive professional guidance and education at no charge, which makes them an informed buyer.
To an untrained eye a particular franchise may look great on the surface, but what about underneath the surface? Without using a franchise consultant, you are not made aware of valuable information that may change your decision to go with a certain concept. Franchisors are governed by FTC guidelines, however there are MANY items that are not disclosed that involve operations and support. It is important that you know and understand how to get that undisclosed information. Because franchise consultants work with these franchisors on a daily basis, they learn what is happening with the company right now, not last year. The documents that you are required to read are almost always from the previous year. For example, if the franchise is restructuring or undergoing dramatic shifts in management, you need to know that. In most cases, it will affect you as a franchisee.
All day, every day franchise consultants are researching franchises. That is their sole and primary function as a consultant. If you spent every day doing one activity, you would become an expert in that activity. Franchise consultants are knowledgeable experts in franchising.
Franchise consultants through the FBA are trained on a number of different funding options for your client. They can assist you in securing that funding as well as demographics information, and all around support services.
Franchise consultants use sophisticated tools to determine franchises that are a great fit for you. They collect the data and analyze it against the database of franchises. From there they contact the franchisors about their client to determine if that is a good market for the franchise, saturation, and also if the franchisor is interested in that client. You get the final list without having to do all the work. Perfect!