FAQ
Here are some of the top questions my clients have when we first talk. But if you don’t find the answer you’re looking for, please reach out to me, and I’ll get back to you shortly.
What is franchise exploration?
I view franchise exploration as an eye-opening exercise in learning about a business and uncovering if it is (or isn’t) the right fit. With over 3,800 franchise concepts to choose from and 250M results on Google, franchise exploration can seem overwhelming – but it doesn’t have to be! I help clients break down the process into manageable steps, making it much easier to digest. Together, my clients and I work through a proven methodical process to aid in a successful exploration.
How do you decide which of the 3,800 concepts are worthy of exploration?
The franchise concepts I share have the following four characteristics:
- Longevity and established brands
- Good ROI
- Well known in their industry / vertical
- Reputable
How do you determine which concepts to share with a client?
All of my clients have different goals and needs. I support clients through a specific process to understand what they are trying to accomplish in the next chapter of their career and life. I then share concepts that speak to their specific requirements and are in alignment with said goals.
What franchises are “hot?”
Hot franchises are fads that come and go, and therefore, I don’t present these to clients.
I do not want to own a McDonalds, Subway, or some other fast-food restaurant – what else is out there?
The 3,800 franchises typically fall into six categories: Automotive, Restaurants, Retail, Business to Business, Business to Consumer/Homeowner, and Education/Enrichment programs. The latter three categories typically require significantly less capital than the first three, and we’ll focus most if not all of our time here.
What is the typical investment?
Clients typically invest anywhere from $350k to just $50K. Most put approximately 20% down and finance the rest – very similar to investing in a home.
How many franchise opportunities will a client explore with you?
Clients will typically narrow their focus down to two top concepts for a thorough exploration. Additional concepts can be added for a full exploration as the process unfolds.
What is the goal of franchise exploration?
The goal is for clients to obtain enough information and the right information to make a well-informed decision about franchise opportunities. This decision could result in making an investment OR further exploration with additional concepts.
Ultimately, our work together allows you to choose the opportunity that is the best fit for your unique needs – leading to a lifestyle that offers autonomy, financial stability, and the flexibility to do all the things you’re passionate about in life.
How does your business model work? Is there a fee for your services?
Clients pay no fee for my services. I operate similar to an Executive Search firm. The industry standard is that franchise coaches are paid by the franchisor ONLY if a client chooses to invest.
What is the length of the client/coach engagement?
There is no defined timeline. I’ve worked with clients anywhere from three months to three years. Our time together has no expiration date. Even after you’ve started that next chapter in your chosen journey, my door is always open for anything needed to help ensure your business thrives.