How to Find Franchise Opportunities
A franchise can provide the perfect investment for a smart-minded entrepreneur, but how do you go about finding the right franchise? As of 2019, there were almost 800,000 franchise options in the United States alone. That’s close to a million different franchise opportunities. Finding the perfect opportunity to suit you and your financial endeavors can be complex and frustrating. Here are some tips on how to find franchise opportunities so you can succeed and grow your entrepreneurial dreams through 2021 and beyond.
Use a Franchise Consultant
What is a franchise consultant? In simple terms, a franchise consultant is a business that works closely with established franchises and helps them find future franchisees. They are paid a commission for each entrepreneur they bring into the franchise’s fold. A good franchise consultant, however, cares about their clients and represents them accordingly. They will help you find franchises and match you to the perfect industry. After all, a successful match plays a significant factor in a franchise’s success and growth.
Hundred Acre Consulting has been a staple in the franchising industry for more than 25 years and has more than 550 well-established franchises to offer their clients. Our team can connect you with the perfect franchise in more than 21 sectors, so no matter where your interests lie, we can find you the ideal opportunity.
A franchise consultant does more than show you the right opportunity. They can conduct personality tests to narrow down the right brand that fits you. They can also teach you how to successfully market your business and help connect you with the right resources to grow your business properly.
Look Around
Do you have a favorite place to get groceries? Maybe you’re a gym enthusiast that loves to spend your free time getting in shape. You will be surprised to find that some of your favorite haunts are actually franchises. This is an excellent way to find franchise opportunities. They surround you! For example, you may start every morning with a hot cup of coffee from your local Dunkin’ Donuts, especially the mornings you go to Great Clips for your monthly trim. Well, Dunkin’ and Great Clips are both well-known franchises.
Investing in a franchise gives you the option of owning a traditional franchise or a semi-absentee business — both of which can be excellent investments. It all depends on your needs and goals as an entrepreneur. Sometimes finding the right franchise is as easy as looking around and seeing which brand calls to you the most.
Attend a Discovery Day
Real estate agents hold open houses so the public can see what the home they are representing has to offer. In the franchise industry, franchisors have similar events called discovery days. They are an awesome way to find franchises. Discovery days allow you to visit a franchisor’s headquarters and to meet their team.
This event enables you to ask any relevant questions you may have about their business model and network. But discovery days go both ways. The franchisor will also be scoping you out as a potential business partner, everything from your personality to how professionally you dress. So, be sure to represent yourself as best as possible.
Hundred Acre Consulting: Your Next Step
Finding the right franchise is a tricky business. Potential franchisees may be intimidated by the current climate and unsure about making such a significant business decision. There are many paths to finding the right franchise.
We believe the most intelligent solution is to use a seasoned franchise consultant to help you navigate the many different types of franchises and help you make the right choice. Let our team at Hundred Acre Consulting lead you down the path to becoming a successful franchise owner.
If you’re interested in learning more about the franchises we work with and the services we offer, contact me today, and let’s get started!
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