My first post about the topic of there being too many franchise consultant/brokers in the industry now, has prompted a pretty good discussion on a blog I contribute to, BlueMauMau.org, a very popular blog that is targeted to current and future franchise owners. More.........
There were over 60 back and forth comments about this topic as of Sunday evening {8-5.} I am quite passionate about this subject, so are some others in the industry....check out this discussion.
{Please come back here when you are done, to continue reading.}
The biggest problem I have with the amount of new "consultants" coming into our industry, is how they are being sold the bill of goods. Jim Coen, a 25 year franchise industry veteran up in New England, and fellow blogger, gives one example of a franchise that sells franchises, to those that want to sell franchises. {Confusing, huh?} See Below:
- No Experience Necessary
- Huge Demand and growing demand for our service
- No Cold Calling Required
- Work with the best franchises
- Tremendous Income Potential, earning up to $25,000 for a single transaction
- Complete Training
- Start from your Home
- Work Part time
- Only $19,900 to get started
$19,900 is quite the bargain, with no cold calling! Some franchises that sell franchises to those that want to sell franchises, have $30k-$50k Franchise Fees up front. To those folks that may be reading this, that are thinking about becoming a "consultant", what do you think "no cold calling" means?
What this means, in a nutshell, is that these franchises that sell franchises to folks that want to sell franchises will be sending you somewhat qualified "leads." Well kind of "leads." More like what I have been calling them for the last 5 years, inquires. A "lead' is someone who is fairly interested in learning more about what you offer. An inquiry is a tad more of a casual look-see.
{These are my definitions, others will disagree] Don't care. It is what is is. {IIWIIS}
A typical call to a "lead" that you may receive most of the time goes like this:
Us- "Hello, This is Joel Libava {or Jim Coen}, and we are responding to an inquiry you made online concerning franchise opportunities."
Lead- "Yes, are you from Blimpie's Subs"?
Us- "Well, actually no, we are franchise consultants/brokers, and we work with a large number of franchise company's..blah blah blah....."
Lead- "Well I specifically wanted information on Blimpie's, do you work with them or not?!!"
Click.Click.Clickarooni.
Well, that was enjoyable. On a positive note, it only takes about 75-100 internet "leads" to find 2-3 folks that really might work with you, and hopefully one that will actually buy a franchise that you represent.
{End of Part 2} Here's Part 3
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