Franchise consultants are some of the most impactful players in the industry, yet many people don’t know what they do. These professional matchmakers do a lot! They introduce franchise brands to aspiring franchise owners and work with both parties to ensure the best outcomes for everyone involved.

The franchise industry has enjoyed record growth in recent years, and franchise consultants are at the heart of this surge. According to the International Franchise Association’s 2023 Franchising Economic Outlook, franchised businesses grew 2% to a total of 790,492 units in 2022 and will increase by 15,000 more, to roughly 805,000 in 2023. By bringing the right people to the right brands, franchise consultants help foster this growth.

So, what does a franchise consultant do on a day-to-day basis to contribute to this growth? In addition to educating themselves about franchise brands and keeping up with the ever-changing industry, franchise consultants work closely with candidates to find a perfect fit. Here are some of the key tasks they perform.

1. Conducting a thorough assessment: The first step in the franchise consulting process is to conduct a thorough assessment of a candidate’s goals, skills, experience, budget, and lifestyle. This helps the consultant understand the candidate’s needs and preferences and to identify the most suitable franchise opportunities.
2. Researching and identifying franchise opportunities: Once the franchise consultant has a clear understanding of the candidate’s needs, they research and identify franchise opportunities that meet those needs. This involves reviewing hundreds of different franchise companies and narrowing down the list to the ones that are the best fit.
3. Providing education and guidance: Franchise consultants provide education and guidance to their clients throughout the franchise discovery process. They explain the pros and cons of owning and running a franchise, the different types of franchises, the costs involved, and the legal and financial requirements.
4. Facilitating introductions: Once the consultant has identified a few potential franchise opportunities, they facilitate introductions between the candidate and the franchisors. This allows the candidate to ask questions and learn more about the franchise opportunity, while also allowing the franchisor to get to know the prospective franchisee and determine whether they would be a good fit for the franchise.
5. Helping with due diligence: If the candidate decides to move forward with a particular franchise opportunity, the consultant helps them with due diligence. The consultant can ensure the candidate doesn’t miss important steps, such as validation calls (calling present franchisees in the system and learning about their experiences). The consultant may also help review the franchisor’s disclosure document, and other legal and financial documents to ensure that they fully understand the terms and conditions of the franchise. 
6. Reviewing the franchise agreement: Once the franchisee candidate has completed their due diligence and decided to move forward with a particular franchise opportunity, the consultant helps them review the franchise agreement. This involves identifying any areas of concern and negotiating changes or modifications to the agreement.
7. Providing support and encouragement: Good franchise consultants serve as a franchisee candidate’s coach, cheerleader, and support system. They provide ongoing guidance and encouragement throughout the entire franchise discovery process, from initial assessment to signing the agreement. Even after the franchise agreement is signed, a good franchise consultant will check in from time to time to see how the franchise business is working out. 

How do you become a franchise consultant?

To become a franchise consultant, individuals must undergo specialized training and education. For example, IFPG’s CFC program offers comprehensive franchise consultant training that covers all aspects of the franchise consulting process.  

Although franchise consultants come from a variety of backgrounds, they all should have one thing in common: a love for entrepreneurship and great people skills. Successful franchise consultants know how to build strong relationships with aspiring franchisees and franchisors and understand the needs and preferences of both parties.

What does a franchise consultant do?

Without franchise consultants, the process of finding and growing franchises would be much harder and less efficient. Franchise consultants are critical intermediaries who help aspiring entrepreneurs navigate the complex world of franchising while enabling franchisors to grow with quality, qualified franchisees. Franchise consultants are the key professionals who bring it all together.

About the Author

Don Daszkowski is the CEO and Founder of IFPG, a leading franchise broker network ranked No.1 on Entreprenuer magazine’s top suppliers list. IFPG trains individuals to become Certified Franchise Consultants and connects franchise professionals.