Growth Club
1851 Growth Club
Top Franchise Brokers: Jose Torres, FranNet
Jose Torres understands that business ownership is probably the biggest decision a client is going to make in their life. That’s why he approaches his job as a consultant with honesty and integrity.
After working as a corporate executive, Jose Torres decided to take everything he had learned in corporate America and utilize it in the franchising industry, first as a franchisee and later as a franchise consultant with FranNet. Now, for 13 years, he has been helping potential franchisees and franchisors find the perfect match.
Torres believes a successful franchise consultant is a subject matter expert, both in the franchise industry and the local landscape where a client is hoping to open their business. “You have to be able to guide your clients toward the right decisions with regard to business ownership,” he said. “Help them look at the local landscape where they’re looking to put their business, and help connect them to that local market.”
First and foremost he advises potential franchise owners to be honest with themselves and their goals. “You have to really reflect and understand if you’re fit for business ownership,” he said. “Why are you doing this? Because you can’t find a job? That’s a terrible way to go into business. You want to make sure you have the motivation and the self-confidence to do it.”
Torres also believes that the current market is incredibly diverse, and franchisors should be looking for more than just the status quo in franchisee candidates. “If franchisors are looking to grow in a particular region, they have to recruit franchisees that reflect that local market in terms of gender, culture, age group, etc. Because the more they find a candidate that reflects the target population they’ll be serving, the better they’re going to do,” he said. “White males aged 45–55 are what has been typically recruited for years and years, but that’s not going to cut it anymore. Millennials are playing a big role in disrupting almost every industry. There’s also never been a better time for women to go into business. We have to get out of that mentality that there’s a particular type of franchise candidate who fits our model.”
Watch the full interview above, or click here to watch it on YouTube.
If you are a potential franchisee looking to invest or a franchisor looking to attract new candidates, contact FranNet at https://frannet.com/.
