What is a Business Consulting Franchise?
Rather than go into business consultancy on your own, you can invest in a franchise with an established business consulting company that is offering a franchise to practise business consultancy, usually, but not always, in a specific geographical area. In return for the franchise fee, you should receive the backing of their brand name, training, ongoing support, business and analytical tools, marketing resources, and maybe in house expertise to call upon when needed.
The company offering the franchise is called the FRANCHISOR while the person investing in the business consulting franchise is called the FRANCHISEE.
Better Chances of Success and Generating Income Earlier
Getting started in any business of your own can be a huge step. Fear of failure stops many people going ahead with their dream. If you have issues going it alone, then consider investing in a franchise. It vastly increases your chances of success, and tends to generate income much earlier.
If you want to become a business consultant, it can be very difficult acting alone because you cannot have all the expertise required to meet the many challenges of consulting with different kinds of businesses. Even if you specialize in a specific industry or field, there will be many occasions where you just don’t know how best to help a client business. A business consulting franchise, by its very nature, can offer a powerful support structure.
All the Support and Resources You Need
For example, a good business consulting franchisor will provide you with training both when you first get started, and on an ongoing basis. They will also be able to offer you advice and help with many specific business growth and marketing strategies that your client businesses may require, whatever line of business they are in.
You should also have the benefit of a selection of marketing materials and reference materials to use on an ongoing basis.
In general, franchisees are better supported, better motivated, better skilled, and better financed, to win new business than new business start-ups on their own. So if you are starting your own business consultancy, and going it alone, you could face an uphill battle.
Being a business consultant on your own can be a very lonely existence. On the other hand, when you are part of a large supportive organization, particularly in these days of online membership forums, you will always have colleagues willing and ready to help you, not just with expertise and possible solutions, but with encouragement and mutual support.
The Backing of a Brand Name – Possibly Well Known
You also have the powerful benefit of a strong brand once the business consultancy company has established itself in the market, and by buying into that brand through your franchise, you have all that credibility and trust behind you. It will be easier to acquire new client businesses to consult with, when you have a strong company brand behind you.
A Proven System
The whole point of investing in a franchise is that you will have access to a proven system that has already been well tested.
You Are Your Own Boss
You will, of course, be your own boss, and you can work when and how you want, and be very flexible. There is nothing like being self-employed and being in control of your own working hours. However, many business owners are just slaves to their businesses, having to be there all the time. As a business consultant, you can probably work from home, or a small office, so overheads and business expenditure can be kept to a minimum, leaving you with a higher income. Also, you have no staffing problems!
Substantial Incomes Can be Earned
As a successful business consultant, you can become financially free, meaning you no longer have any money worries. If you are helping businesses to expand and grow their profits, then there are substantial earnings to be made, especially if your agreement with your client businesses includes them paying you a percentage of the extra profits you helped generate.
Very Worthwhile and Respectable Profession
As a successful business consultant, you will experience the satisfaction of doing something worthwhile with your life, knowing that by helping businesses to grow their profits, you are helping all the people associated with that businesses: owners, management, staff, manufacturers, suppliers, joint venture partners, and all their families. You are helping make the world a better place and that’s a very worthwhile cause to attach yourself to.
Helping others realize their personal and business goals by showing them how to successfully deal with the difficulties and challenges of managing a business, also brings more back to you in the future. The more value you give to others, the more you receive in return, and not just the financial rewards from the business you have given value to. You will receive much more in return from other sources. Whenever you work successfully with a client business you can use their own testimonial to help you acquire new businesses to consult with, or the satisfied business itself is happy to recommend your services to other non-competing businesses. So by giving real value through your consultancy services, you should never be short of new business challenges to find solutions for!
If you have a family, then you will be proud to be providing for them the lifestyle you all deserve, and doing so while pursuing a very professional and highly respected business consultancy.
Great Way to Acquire Expertise, Experience and Authority Status
As you gain more and more experience of dealing successfully with different business consulting challenges, you are acquiring valuable expertise, knowledge, and confidence. All this raises you to a much higher level of business consulting competence. In so doing, you will also become a respected business consultant in the field, and possibly acquire expert status, with the backing of the franchisor’s brand, so on a professional level, you feel on top of the world.
So, a business consulting franchise may be the perfect way to go, if you would like to put your business skills to use in a positive way, especially if you want a change from running your own business or working in someone else’s business, and not getting the rewards you feel you deserve.