7 Reasons You Shouldn’t Work With a Franchise Coach
We can all use advice now and then, but beware the wolf in sheep’s clothing. People may say they want the best for you, but not everyone has your interests at heart. Nowhere is this more glaring than in the so-called franchise “coach.” Buying a franchise is arguably one of the most important things you will do in your life. Unfortunately, people commonly fall into the trap of trusting the wrong person for help navigating the process. But how and why could a coach steer you wrong?
Learn the warning signs of working with franchise coaches
1. They have a limited number of options
Many franchise coaches claim they work for you, but do they? Because many of them work off commission, they push a portfolio of select franchises that will give them the most lucrative cut. You are sitting there in earnest with your savings and maybe a loan on the line, while these coaches are only out for themselves. If they are offering you a limited number of options, that’s a red flag. Because those are the ones they are being paid to promote.
2. They seem to be in a rush
A coach knows you may have a lot to learn, and so they’re patient, right? You would think. But it’s shameful how many coaches will try to rush you through this process. This is a decision you’ll need to think long and hard on. It will affect your family and every aspect of your well-being, long after your “coach” has cashed their commission check. If a coach is leaning hard on you to move quickly, that’s your cue to leave.
3. They play hot potato
If someone is truly in it for you, why are they eager to hand you off to a salesperson? Too many franchise coaches are just trolling for leads, and you might get caught in their net. But you’d like to think you’re something more than the catch of the day — the one who helps them meet their quota. A true coach would spend whatever time it takes to make sure you are pursuing options that will be right for you.
4. They disappear
A good high school or college sports coach cares what happens to you after graduation. They root for you and help in every way they can. A bad coach? They’re just running you through the mill. That’s true of too many franchise coaches. Once you’ve bought your business, you’re on your own. What’s it to them?
5. They show little interest until you prove you’ve got capital
How do you feel when a car salesman treats you like you’re just kicking the tires? Probably the same way a franchise coach makes you feel when they gloss over unless you prove you have tons to invest. If you’re serious about finding a franchise that’s right for you, the last thing you need is someone who acts like your money is all that matters.
6. They don’t have experience in franchising
If you want to get better at golf, you don’t go to a tennis pro. It may sound obvious, but you should expect that a franchise coach has experience with the franchise world. Even more obvious, that person should have at least owned a business. But most franchise coaches come from corporate backgrounds and have never even run a lemonade stand. Their understanding of franchising (and sometimes even coaching!) is often very limited.
7. They’ll make you into a franchisee… even if you’re not
It’s astonishing how many franchise coaches will try to make you something you’re not. Franchising is not for everyone. If you’re creative and maybe even a little disruptive, you might be better off as a single entrepreneur rather than following a system. But there’s no money in that route for a franchise coach. No sale, no commission. End of story.
7 Reasons You Should Turn to Franocity
At this point, you might be feeling a little uneasy. If you can’t trust a coach, who can you turn to for advice? The answer is simple. For every reason you shouldn’t work with a franchise coach, we’ve got a reason you should choose our expertise instead.
1. We really listen
Our number-one priority at Franocity is you. We know the most important way to start getting to know you is by asking about your goals, needs, experience, and preferences. Understanding the kind of business you want to run allows us to help you find the best fit.
2. We are patient
We understand that this is a life-changing choice. Deciding to purchase a franchise should not come quickly and without much thought. Just as much as we want to ask questions, we want to answer them. So, bring your notepad, pencil, and inquiries when meeting with us.
3. We’ve been there
Our consultants have experience with franchising from all sides, including as business owners. We know how the system works, inside and out, and how it can best be used to your advantage.
4. We have industry connections
We work with hundreds of franchises across many business sectors and can help streamline your search. We are knowledgeable and equipped to match you with a host of suitable choices.
5. We can help you tap into the funding process
We can help you discover the myriad lending options available to new and small business owners. And we can even suggest strategies for reducing your overall start-up costs. Starting a business isn’t cheap, but there are ways to keep more of your own money in your bank account.
6. We’re on your side
Every single step of the way — we got your back. We will not give you advice that is against your interests. When you put your trust in us, it’s our goal to ensure you’re making realistic and viable decisions that will allow you to succeed.
7. We respect you
Each of us has been in your position — evaluating a business proposition with the goal of making the best possible decision. We are motivated every day by helping others clear those hurdles and prosper. When you succeed, we all succeed.
Contact us now for a free consultation!