You will have a major advantage if you already have experience of running, or working within, a successful business; or in sales and marketing; or in lecturing in business studies and marketing; or in business or marketing consulting.

Having the right kind of business experience, expertise, and knowledge already, puts you in a strong position to enjoy early success as a business consultant working within the legal framework of your franchise agreement, and the fiscal services support structure available within the organization. You have all that expertise already, but now you also have the trusted brand behind you, a collection of marketing and analytical tools, and ongoing training resources and support for when you need it.

If you don’t have the appropriate experience, all is not lost. You can attend various business and marketing courses at community colleges and universities, and online courses are also now available to you. A good franchisor should also be providing a comprehensive training course when you first invest in the franchise, along with ongoing professional development, so if you have a strong desire to become a business consultant then you can still do so. Just take into account the time it will take for you to acquire the appropriate expertise to get started successfully.

You will need premises, but a room in your home will be suitable, or you can rent a small office somewhere. You can even use the services of an online virtual office (internet based) if you do not need to meet clients on your own premises. Normally, you will be meeting clients where their own business is located.

You need internet access, maybe your own web site, you need a telephone, computer and printing equipment, stationery supplies including letterheads and business cards, travelling expenses, maybe a car, marketing materials and resources, and possibly personal and professional training in addition to what your franchise company supplies.

All in all, your expenditure can be kept to a minimum, and is nothing like what would be required to operate a normal business.

Your big financial consideration, of course, is the franchise fee. Just like starting any kind of business you will have a relatively high up front capital investment. You won’t, however, have to pay for expensive premises, equipment, manufacturing, stock, and staffing.

Instead, you are paying a franchise fee to buy into the franchise, with all the benefits that brings to you. Franchise fees vary greatly so you need to do a lot of research to compare what you get for your money. Like anything, you get what you pay for. What seems like a good deal might prove a disastrous investment if you don’t receive the support and resources you expect, or if there is not enough business available for you, or there is too much competition.

 

Categories: Business