Franchise Glossary

The range of services offered by franchise consultants includes recruiting franchisees, drawing up financing strategies, writing business plans as well as searching for and analysing business locations for new franchisees. However, franchise consultancy also covers other areas such as managing franchisee networks, drawing up franchisee manuals and training franchisees. A separate service provided by franchise consultants is developing a business idea into a franchise concept which can be launched onto the market. This area of franchise consultancy is, however, wide-ranging and also covers the transformation of established firms into a franchise. As franchising is subject to a number of legal rules and regulations, specialist franchise lawyers must also play a role in the world of franchise consultancy.

Just listing the subjects which need to be covered by franchise consultancy businesses makes it very clear that the know-how of franchise consultants cannot generally be supplied by business consultants who do not specialize in this field. The fact that the franchise sector is becoming more and more professional demonstrates just how much specialist knowledge is required for franchise consultants to be able to provide competent services. People interested in learning about the full range of services offered by such franchise consultants can find detailed information on the websites of the various companies.

In general it can be said that franchise consultancy is considered to be very important within the franchise branch. As they advise both franchisors and franchisees, many franchise consultants find themselves playing an important role as mediator. On the one hand, they must fulfil the wishes of the franchisors and find new franchisees which suit the franchise best. On the other hand, they must inform potential franchisees about all the different aspects involved in joining a franchise and, as a responsible franchise consultant, only support franchise start-ups which have a realistic chance of being a success.

Even if many franchisors and franchise institutions, such as the bfa, contribute towards the further development of franchising, franchise consultancy provided by specialist consultancy companies and individuals is often irreplaceable. For, know-how also increases as the general success of franchising grows.

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