Why use a franchise consultant?

Buying a business is an important decision.  A franchise consultant can help you identify businesses that are closely aligned with your talents, interests and goals and has the knowledge, connections and experience to save you months of research and uncertainty. We can guide and advise you in identifying franchises that meet all of your financial and lifestyle objectives and are with you every step of the way.   

Why not go directly to the franchises instead of working with a consultant?

You certainly can, but bear in mind that franchise companies are mainly interested in whether you are a good fit for their brand.  A consultant on the other hand, will sift through many brands in various categories to find several that meet all of your goals.  Their in-depth industry knowledge allows a consultant to find the best match for you, saving you from wasting time pursuing leads that may not work for many reasons, such as unavailable location, wrong price range, incorrect skill set match,  and a multitude of other factors.

Do you work with all franchises, and if not, does that limit my options?

There are over 4,000 franchise brands and we do not work with all of them. Many have an unproven track record. Our commitment is to you, therefore we are very selective regarding the brands that we represent. We work with hundreds of highly successful brands that have been carefully chosen and represent a broad and divergent spectrum of industries. Each franchise company we work with has been carefully screened and vetted to ensure it is a solid, profitable and successful brand, and we are confident we can provide excellent choices in all industry categories.

What are the ‘hottest’ franchises or business opportunities?

The "hottest" is not always the best. It is more important that a franchise is an excellent fit for your needs than whether it is the "hottest" trend.  Often a more well-established franchise with a proven and successful track record is a better match than a new commodity that is not yet proven,  and may have an uncertain future.

How do I know you have my best interests in mind?

Our job is to match the right person with the right franchise. Franchises are very protective of their brands and will only award a franchise license to you if they feel you have all the necessary requirements to be a great franchisee.  In order for this to happen it must be a good fit for you and them.  Our reputation speaks for itself.  We will only match you with the proper franchises that are suitable for you.

How much does it cost to use a consultant?

Our consulting services cost you absolutely nothing, and whether you use our professional services or not, your investment cost is the same. Our fees are paid by the franchise companies, and they appreciate working with consultants who find them qualified applicants, saving them time and money by screening prospective franchise owners. 

How does it work and how will you find the best opportunities for me?

We work with you by gathering as much information from you as necessary to effectively build a solid business profile, and based on this we start the process of selecting franchise brands that match all your criteria.  We eventually narrow our search till we have a small selection of the best opportunities for you to evaluate.  Once you decide which you want to pursue, we recommend you to the franchise team and continue to advise you as you proceed throughout the process.

What are the benefits of owning a franchise?

It is easier and quicker to buy a franchise that to build a business entirely from the ground up.  With a franchise, you will own your own business, and you will also have a professional business team backing you, providing training, knowledge, and business experience.  You will have a proven business operating model to follow, and will receive all the tools you need to be successful.  A franchise system has already been proven to work, so you already have a greater chance of success than if you had started a business without this support.  In fact, over 90% of franchises are successful, compared to about 50-60% of new startup businesses. 

Should I consult with other types of advisors?

Absolutely. We always advise our clients to seek additional professional advice before making a final decision. You can seek out your own advisors or use ours.  Heritage Consulting has associations with a wide network of experienced, knowledgeable professionals with specialized franchise expertise who can advise you for all of your financial, accounting or legal questions. 

Do I need specific industry experience to successfully run a franchise?

Usually you do not need specific industry experience, and in fact most companies prefer this, as they foresee the franchise owners operating the business according to their established business model.  The majority of  franchise buyers have no experience in the industry that they choose.

What if I don't have the skills needed to run the business?

A franchise company will provide extensive training to provide you with the skills necessary to operate the business.  Franchisors train their business operators to run the business with their proven method. They want capable owners who can motivate employees, close sales and manage efficient operations and they are prepared to show you how to do that. One of the major advantages of buying a franchise is that the the franchise company already knows how to run this business successfully, and is now going to teach you exactly how to do that yourself.  

What if I don’t have enough capital?

It is extremely important to ensure you have sufficient funding prior to starting your business, as under-capitalization is one of the main reasons that new businesses fail.  We always suggest that you research your funding options as early as possible so that funding can be arranged sooner rather than later.  In this way, you can be confident knowing that you will have the right financing in place once you are ready to move ahead with your plans.  

Heritage Consultants has partnered with several outstanding funding companies who are experts in franchise funding and who can offer multiple funding options and avenues to meet almost every need.

How soon can I get started?

This really depends on your own timeframe, choices and motivation.  Generally it can take from one to several months to choose a franchise and complete the purchase.  It varies widely, as there are many factors involved, such as funding, location availability, training, employing staff and your own personal circumstances.