What is the difference between a franchise consultant and a franchise broker? The simple answer is… “it depends on who you ask.”
Anyone who helps other individuals through the process of buying a franchise is considered a franchise consultant or a franchise broker. Below, we define the terms “consultant” and “broker” to clarify the differences.
According to Wikipedia, a consultant (from Latin: consultare "to deliberate") is a professional who provides expert advice in a particular area. A consultant is usually an expert or an experienced professional in a specific field and has a wide knowledge of the subject matter.
Franchise Consultant Definition
The definition of a franchise consultant is multi-faceted. Their role is pivotal in every phase of the franchise discovery process. Franchise consultants’ services are in demand more and more as the industry grows. Acting as trusted advisors, franchise consultants help people who are considering a franchise purchase. First and foremost, franchise consultants help interested parties determine if a franchise investment is the right move. From there, franchise consultants guide candidates through the process of determining which ownership model, business sector, and brands would be suitable for the candidate’s lifestyle, investment level, and experience. Once specific opportunities and brands have been identified, the franchise consultant works hand-in-hand with the candidate and the franchisor to ensure a good fit is made for all parties.
Franchise consultants work independently but gain more industry recognition, education, and credibility when they are affiliated with a franchise brokerage such as IFPG. All IFPG’s Franchise Consultant members have gone through extensive training to ensure that they are educated on franchising’s best practices, and have in-depth industry knowledge. IFPG Franchise Consultants follow the IFPG Code of Ethics which upholds IFPG’s reputation for virtuous business practices and ensures that a candidates’ best interests always come first.
What is a franchise field consultant?
Even though their names are similar, a franchise field consultant’s job is completely different from a franchise consultant’s job. Franchise field consultants are employed by franchisors and work directly with franchisees. They work within a specified area and help franchise owners run their business most effectively by providing strategies and guidance set by the franchisor. Franchise field consultants also ensure that franchisees follow and implement the franchisor’s system as specified in the franchise agreement. Franchise field consultant jobs have been growing along with the continued growth of the franchise industry.
According to Wikipedia, a broker is an individual who arranges transactions between a buyer and a seller for a commission once a deal is executed.