Franchise business consultants provide support to new franchise owners during the first year of operations. They require a combination of academic credentials and business experience, and their assistance varies depending on the needs of the business. Personal relationships are important when selecting a consultant.
A franchise business consultant is typically someone who has significant experience and knowledge in running franchise operations. He or she may be hired by the franchise company or a small business support agency. The primary objective of a franchise business consultant is to provide assistance and support to new franchise owners, typically during the first six to 12 months of operations when the risk of failure is greatest.
Qualifications to become a franchise business consultant vary, but generally include a combination of academic credentials and business experience. Most consultants hold a degree or diploma from a recognized post-secondary educational institute. He or she may have completed this training in another country, as franchise businesses remain a very popular option for skilled immigrants who are unable to find employment in their field. While education provides many useful skills, the most important requirement for any franchise business consultant is typically their business experience.
A franchise is a business structure in which the parent company grants the franchisee the right to sell trademarked products or use its techniques in exchange for a portion of the sales. The business model has a lower risk of failure than an independent business operation due to the use of a proven successful product and assistance provided by the parent company. Franchise agreements range from three to 100 years and often include access to support services such as a franchise business consultant.
The experience provided by the consultant varies depending on the needs of the business, the level of experience in business operations and the challenges. For example, a franchisee who has never worked in retail or owned a business of any kind will require significant assistance in understanding the key business requirements to successfully operate the business. Most franchise organizations include a three to six month training program for all new owners, but there is a real difference between discussing issues in the classroom and facing problems in business operations.
When selecting a franchise business consultant, the personal relationship is often very important. The consultant needs access to all areas of the company and must be able to provide criticism, advice and guidance that will be received and implemented. Owning a successful business can be very rewarding, but the first year can be extremely challenging. Working with a franchise business consultant provides owners with access to a wealth of knowledge and experience to help them avoid costly mistakes.
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