I’m really puzzled.
The average investment in a franchise business opportunity is around $180,000. The fees that I charge people who want to work with me to seriously increase their chances of success as franchise owners are usually less than $1,000. If I did my calculations correctly, future franchise owners only have to invest half of a percent of what they’ll probably end up spending on their franchise business.
So why aren’t more prospective franchise buyers requesting information from me?
I’m thinking that it could be one of three things;
1. There’s not enough people that know about my franchise advisory services.
2. Most franchise buyers don’t think they should have to pay for straightforward advice from an industry insider.
3. If prospective franchise buyers contact me, reality could be setting in, and they’re trying to avoid that.
I can fix #1. I’ll need to do a better job with my marketing. Maybe I can write a franchise book. According to several friends, if I did that, lots of people would be asking me to provide franchise services for them.
A gentle tip from The Franchise King®:
Do not buy a franchise until you know EXACTLY how to do thorough research.
Learn how here
When it comes to Free, #2, things can get complicated.
For example, most people that are looking for franchises run across websites touting, “free franchise consultations.” It’s true; franchise brokers and franchise consultants, (same thing) do offer their services for free. Except for one thing; if you choose to take them up on their “free consultations,” they’ll only present franchise opportunities that they get paid big, fat commissions on. Having said that, there are several great franchise brokers around. Contact me if you’d like to speak to one.
That’s why they offer a free service. I know this for a fact. I used to be a franchise broker.
Since I’m not a franchise broker anymore, I do things a lot differently. For example, I don’t try to match you up to any franchises. None. Nada. Instead, I’ll show you how to figure out what types of franchises you may want to look at, point you to places where you’ll be able to easily find them, and then teach you how to expertly research the franchises that you’re interested in. And more.
It’s one thing to “think” about becoming a franchise business owner…heck, any type of business owner. #3 It’s quite another to start taking your search for that perfect franchise opportunity to the next level. In our email and texting world, that next level could involve an actual “verbal communication.” (A.K.A. a phone conversation.) That is scary.
If you’re currently looking for a franchise to buy, you know what I mean. Checking out the top franchise websites, and looking for cool franchises to learn about is one thing. It’s quite another to fill out a, “request for information” form, and hit submit. That’s because once you hit submit, things may start to change for you. Not only will you now be getting a call from a representative of the franchise you just requested information from, you’ll have to talk to that person, and maybe even share some of your information with them.
Maybe even some of your financial information.
It gets worse; you’ll probably have to tell them why you’re interested in their concept, and you may even have to convince them that you’re worthy of their time.
And, what if you actually end up liking the franchise?
What will you do? How will you get the information you’ll need to make a fact-based, low-risk, intelligent decision?
How will you know if you’ve missed something?
“You want The Franchise King? You talk to Joel Libava! Joel can tell you everything you need to know about the franchise business. Save yourself some time searching endlessly online and just contact Joel for the real deal.” — Jim Kukral, Marketing Consultant, www.JimKukral.com