The Secrets of Franchise Matchmaking
by Seth Lederman
A franchise coach or consultant has to walk a fine line between consulting, coaching, and sometimes even prodding, depending on the day. There are over 3,600 franchise opportunities across twenty different industries, and at times, things can feel a bit overwhelming.
Finding the right franchise opportunity is a bit like marriage: you have to have many things in common and similar goals to achieve success. A franchise coach or consultant has to walk a fine line between consulting, coaching, and sometimes even prodding, depending on the day. There are over 3,600 franchise opportunities across twenty different industries, and at times, things can feel a bit overwhelming.
The Only Real Way to Build Wealth is Business Ownership
Franchise ownership attracts people from many different walks of life, from middle management to retired professional athletes. Those most invested in finding their franchise match are the ones who understand that working for someone else is essentially working to build someone else’s wealth and not your own. The only way to build wealth for yourself is to be in business for yourself. Not everyone wants to be stuck in a nine-to-five office job until the day they die.
“I would highly recommend Seth to anyone looking to explore the universe of franchise options.He was a great help to me in realizing what I was best suited for and what got my juices flowing.” –Jay Weitzman, Owner Monster Tree Service
Sometimes You Need Expert Guidance to Make the Best Decisions
In keeping with the matchmaking analogy, working with a franchise matchmaker is similar to working with a real estate agent to buy a home in an unfamiliar city. Your agent is the expert, and they will tell you more than the number of bedrooms and the asking price. They know where the safe neighborhoods are and the good schools and probably have insider information from other clients who have purchased homes in the same area.
For real estate agents to find the right home, you need to know yourself and what you want, and they need to possess the expertise to help you find it. That’s precisely why you benefit from working with a franchise coach — they know what they are doing and will save you time and frustration. At Frannexus, we understand that making the right match is critical to the success of a franchise business.
Experience Not Necessary
A franchise coach or consultant will help stack the deck of cards in your favor by choosing a franchise to reach your financial and lifestyle goals. Franchises generally have a higher likelihood of success over mom-and-pop and startup businesses because they have a proven recipe for success and effective marketing and advertising. They have created a brand and customer base that are assets to the franchisee from day one. Unlike a startup business where entrepreneurs do best by knowing the ins and outs of a specific industry, franchise companies are looking for a clean slate to start. They will teach you how to do it right and don’t want you coming in with bad habits from prior experience. Most franchisors are looking for people who have specific skill sets and strengths that will fit well with the underlying process of the franchise. They are looking for people who don’t already have preconceived notions about an industry or strong background and experience. Although it might sound counterintuitive, franchises tend to do better with motivated franchise owners who come to the table as a blank slate, ready to follow a proven path to success.
Passion: The Biggest Determinant to a Successful Franchise Match
When trying to find a good franchise opportunity match for you, the most significant determining factor of success is the passion of the franchise owner. Franchisors are looking for highly motivated people, passionate about building something for themselves but not by themselves, and willing to follow the playbook for success that is already laid out for you.
A Great Franchise Match Starts with Understanding Your Goals
The most successful franchise consultants start by understanding the goals of their clients. They must get a feel for what motivates them, their hobbies, background, and experience. More importantly, things like risk tolerance, expectations around ROI, and factors like available capital and how and when to pay yourself all play a significant part in deciding which opportunities to pursue.
If you are considering investing in a franchise, don’t take the chance of choosing the wrong one and not achieving your goals. Learn from the experience of others in the franchise field, like a franchise coach, to have the greatest likelihood not just of succeeding but exceeding what you think is possible. At Frannexus, we have the expertise, knowledge, and experience to help you achieve your financial and personal goals. The right match is waiting for you, and Frannexus is the matchmaker to find your franchise soulmate.
DISCOVER A BETTER WAY TO EARN WHILE LIVING
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In “Profits are Better Than Wages”, experienced franchise advisor, Seth Lederman answers the “how” and “why” of going into business for yourself.
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