Who Does a Franchise Broker Work With?
When you are in a room full of people and you tell them you are a Franchise Broker, you will command the room’s attention. Many people don’t know that Franchise Brokers exist. You instantly become the most popular person in the room. Everyone is asking you questions about the best franchises available and what their options for franchising are. Of course, when dealing with the public, you are going to get some people who don’t qualify. You will learn to weed through them. You can get very good at spotting the buyers by learning proper qualification techniques. You are taught this in our franchise training programs.
HERE ARE THE TYPES OF PEOPLE YOU WILL BE WORKING WITH AS A BROKER.
There is a definite profile of a franchise buyer. They are people who have either owned a successful business in the past, or have had years of management, sales or operations experience.
Franchise owners can be anywhere from 35 to 70 years of age, but the majority of them are between 40 to 55 years of age. They are usually married. This helps with expenses as the business is getting started. They are typically well educated, bright, personable and have a strong work ethic.
They are almost always in transition or have some reason why they are looking for a change. The reason needs to be compelling. For example, being unemployed, relocating, or having their position eliminated would be good reasons to start a franchise. There is a small growing group of Franchise Investors who get into franchise businesses for the purpose of profits alone. This is not the average person you will deal with…yet. Our plan is to make franchise investing just as common as real estate investing.