1851

Anyone exploring franchise ownership has to evaluate thousands of potential business opportunities. The franchise discovery process is a labor-intensive journey, but ideally, one that allows entrepreneurs to identify the best possible business ownership opportunity for them.&nbsp; Oftentimes, consulting professional advisors while undertaking this process can be beneficial—and can save you time and effort in the long term.Here are three experts who can provide information and insights when you are considering whether to buy a franchise.A Franchise Broker or ConsultantFor the entrepreneur who doesn’t know where to start, working with a franchise broker or consultant is a great way to gain exposure to the industry. These franchising pros serve as facilitators between brands and franchise prospects, providing insights to candidates on the business ownership options available to them by factoring in their background, interests and desired investment levels. Consultants and brokers then match prospects with a manageable number of opportunities to consider. By identifying a select pool of franchise brands, these professionals streamline the discovery process considerably.&nbsp;It’s important to note, though, that these industry tour guides aren’t objective third-party outsiders with absolutely no personal interest in the matter. While their services come at no cost to franchise prospects, franchise brokers and consultants do receive a commission from franchisors in their networks to whom they deliver qualified prospects. This means that brokers and consultants might be more inclined to present prospects with the franchise brands they have existing relationships in place with, rather than the best opportunity for that individual. All of that being said, consultants and brokers still play an important role in many franchisee’s decisionmaking processes because of their exposure to the industry as a whole.&nbsp;&nbsp;A Business Financial AdvisorThere are a few important considerations a franchise prospect needs to face before deciding to invest in a franchise opportunity. Understanding the financial commitments of buying and operating a franchise—from meeting the minimum net worth and liquidity requirements, to paying a franchise fee and percentage of royalties—is crucial to making an informed decision.With this in mind, some key questions a franchise prospect needs to ask themselves early on in the discovery process include: What do I have available to invest? How much am I willing to borrow? What kinds of loans are available to me, and what do I need to do to qualify for them?Enlisting the services of a business financial advisor to understand what’s realistic for them individually is an excellent means of mitigating risk and not getting too attached to a concept that’s outside of one’s price range.&nbsp;&nbsp;A Specialized Franchise AttorneyWhen a franchise prospect arrives at the point in the discovery process where they’ve engaged with a franchisor they’re particularly excited about, the franchise disclosure document (FDD) review process begins. At this stage of the discovery process, prospects should strongly consider consulting the expertise of a franchise attorney.The FDD is a binding legal document and should be treated as such. A specialized franchise attorney can advise prospects on the most important sections of the document, including previous litigation (Item 3); renewal, termination, transfer and dispute resolution information (Item 17); and store closures over the last three years (Item 20).This support is pivotal in determining whether a given franchisor is the right fit, which is why dedicating the necessary time and resources to go through the document with someone who has the expertise necessary to spot any red flags is paramount to making the most educated decision possible.

3 Experts To Consider Hiring To Aid in Your Franchise Search

1851 Franchise

The franchise discovery process can be daunting for prospects unfamiliar with the industry. Don’t go at it alone—consider hiring these experts.

3-experts-to-consider-hiring-to-aid-in-your-franchise-search

Griswold

“There’s No Place Like Home”: Griswold Highlights Mental Health Benefits of Aging in Place

theres-no-place-like-home-griswold-highlights-mental-health-benefits-of-aging-in-place

Home Halo

How Home Halo Is Shaping the Future of Senior Care Franchising

home-halo-franchise-senior-care-franchising-dan-deak

Minuteman Press International

Minuteman Press Franchise Owners Danielle & Tony Colecchi with their President’s Club Award.

Minuteman Press Franchise in Leechburg, PA Joins President's Club

minuteman-press-franchise-in-leechburg-pa-joins-presidents-club

Woodhouse Spas

Woodhouse-Spas-Reading-the-Woodhouse-Spas-FDD-2025

What To Know About the Woodhouse Spas Franchise FDD

woodhouse-spas-fdd-costs-earnings

home-halo-nurses-make-ideal-franchisees-image

Why Nurses Make Ideal Home Halo Franchise Owners  

nurses-home-halo-franchise-owners

Buying a Franchise Masterclass

 Franchise Opportunities

Get Support Buying a Franchise

How to Buy a Franchise White Paper

How to Buy a Franchise

How to Sell Franchises

How to Grow a Franchise

Find a Franchise Supplier

1851 Franchise Opportunities

Franchisor News

Franchisor Power Rankings

FranCamp Mastermind Summit

Franchise Development Website Builder

Franchise Resources

What ALEC-Laffer's Report Means for Franchising

Website Awards

Power Rankings

About 1851

Advertise on 1851

Contact 1851 Editorial

Terms of Use

1851 Login

GROWTH CLUB LOGIN

facebook

instagram

twitter

linkedin

youtube

What June’s Jobs Report Means for the Franchise Industry

what-junes-jobs-report-means-for-the-franchise-industry

Drone Delivery Takes Flight in QSR: The Future of Franchise Operations?

drone-delivery-takes-flight-in-qsr-the-future-of-franchise-operations

Chick-fil-A Tops Customer Satisfaction Rankings for 11th Year as Challenger Brands Gain Ground

chick-fil-a-tops-customer-satisfaction-rankings-for-11th-year-as-challenger-brands-gain-ground

Technomic Releases Annual Ranking of the Top 15 Fast-Food Chains in the U.S.

technomic-releases-annual-ranking-of-the-top-15-fast-food-chains-in-the-us

Rising Jobless Claims Could Signal Challenges — and Opportunities — for Franchising

rising-jobless-claims-affect-franchising

The Ultimate Guide to Selling Franchises: How To Create a Strong Incentive

how-to-build-strong-incentives-to-attract-prospective-franchisees

Top 25 Franchise Marketing Leaders: Kelsey McManemin — Vice President of Marketing, HTeaO

top-25-franchise-marketing-leaders-kelsey-mcmanemin-vice-president-of-marketing-hteao

Photo of a large group of people standing in a circle, placing hands together in center

Franchise Opportunities for Minorities: Expanding the Franchise Network

franchise-opportunities-for-minorities

Amanda Evans - Stellar Service Brands - Franchise Marketing Leaders 2025 - 1851 Franchise

Top 25 Franchise Marketing Leaders: Amanda Evans — Senior Vice President of Marketing, Stellar Service Brands

stellar-service-brands-marketing-leader-amanda-evans

How Vishal Juneja Turned a Family Tradition Into a Paris Baguette Franchise

How Vishal Juneja Turned a Family Tradition Into a Paris Baguette Franchise Built on Heart and Community

paris-baguette-franchise-rockaway-new-jersey-vishal-junjea

Franchisee spotlight graphic with photo of Ricki Oberoi and Layne's Chicken Fingers logo

Multi-Unit Wendy’s Operator Signs 12-Unit Deal With Layne’s Chicken Fingers

ricki-oberoi-laynes-chicken-fingers-growth

Franchisee spotlight graphic with photos of Danielle Rosemond & Usman Khan & TruBlue logo

Family Members of Local Physicians Bring TruBlue Franchise to North Central Nassau, Long Island: A Health Care-Inspired Approach to Aging in Place

family-brings-trublue-franchise-to-north-central-nassau

How This Franchise Consultant Turned a Love for Dogs Into a Business with Dog Training Elite

How This Franchise Consultant Turned a Lifelong Love for Dogs Into a Growing Business with Dog Training Elite

how-this-franchise-consultant-turned-a-lifelong-love-for-dogs-into-a-growing-business-with-dog-training-elite

3 Experts To Consider Hiring To Aid in Your Franchise Search

MORE STORIES LIKE THIS