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SEARCHING FOR AND BUYING A NEW CAR OVER THE PHONE.
Imagine you have decided to explore acquiring a new franchise. First you might research them on the internet, perhaps go to a site which has "facts and pricing" on a lot of them. You then contact or are contacted by a consultant.
Now the consultant is a jack of all trades and a master of none, especially when it comes to answering specific questions about any one franchise. His only way to get paid is to “recommend” ones that he has a financial remuneration arrangement with. If you buy a franchise he recommends to you he will get a commission from the franchise.
So he asks you a lot of questions to try and narrow down and focus your search. This is good. He may use questionnaires or online tests or interviews or verbal telephone interviews. He may mail you motivational stuff that address overcoming fear and “pulling the trigger”. Then the sales person picks out three "matches" for you to look at [in your price range, available in your geography and matching as best he can determine, your interests].
If you buy one of the three, he’s a happy camper. If you don’t, he goes back to the list and shows you one or two or three more. When [if] you find a franchise you want to consider, he will notify the franchise who will have a Franchise Development person contact you. This is a good thing because they contact you and the franchise may consider you a serious buyer.
Meanwhile the franchise consultant is getting hungry and unless you buy one of the ones he has recommended, he is going to be faced with a choice:
1. Keep “recommending” to you until hopefully you find one you like and buy one. BUT you may never end up doing that or you may find one you like on your own or through another consultant.
2. Drop you and move on to a new customer hoping for a quicker “sale”
3. Turn up the sales pressure [along with the franchise] to get you to buy something he has recommended to you, whether it is the right or best franchise model for you or not. We all make quicker decisions when we have a pushy sales person in our face, RIGHT?
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Here is a partial list of “Franchise Consultant” organizations [all can be found through Google]:
Fran Net
Fran Choice
The Entrepreneurs Source
Business Advisers International
America’s Best Franchising
Franchise Development Services
Franchise Gator
Franchise Solutions
Franchise.com
Franchise Help
Franchise Mama
Franchise Mart
Franchise Opportunities
Franchise Works
Fran Corp
Franchise Mogul
Franchise Data
Franchise Services
Is Franchising 4 You
Let’s Talk Franchise
Red Hot Franchises
The Business Alliance
United Franchise Group
Which Franchise
Franchise Guide
Franchise For Sale
Franchise
Franchise 1
Business Mart
Franchise Expo
Find a Franchise
Bison
Franchise Mall
Franchise Direct
Franchise Online
Franchise Emporium
Franchise Expo
Franchise Buyers Network
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So What’s wrong with this picture you ask?
How many consultants do you need [or want] and who’s best interest does each have in mind!
Do you want a sales consultant or a coach?
It is a subtle difference on the surface, they look and sound the same. A coach will do everything in paragraph 3 above and then some. But what a good coach does next and who’s best interest they have in mind is the difference.
YES I am compensated by the business or franchise - not by you.
NO my compensation does not raise your acquisition costs.
YES I can probably help you not make a wrong choice because I can coach you how to evaluate each franchise and what to look for and where to find the true answers to your questions.
BUT I get paid and eat even if you choose not to choose.
Want franchise help?
Your first choice is who to choose for help.
It does not need to be me. There are a lot of good self-employment coaches out there. But please ask questions and choose wisely! Your only investment will be your time but you time is valuable.
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