If you’re unable to attend a conference or trade show in-person, webinars give you a free, convenient alternative. For example, the International Franchise Professionals (IFPG) hosts a Virtual Summit for members to discuss best practices from the comfort of their homes or offices. The two-day event has speed networking sessions giving participants the opportunity to nurture their relationships. The event’s expert panels are interactive and discuss timely topics. There are also spotlight presentations and guest speakers that provide indispensable knowledge about the industry. IFPG also offers franchise broker courses that prepare you to run your business to the best of your ability.
While conferences are fun, informative events planned well in advance, there are ways to educate yourself every day.
Subscribing to Podcasts and Newsletters
In today’s fast-paced world, it can seem like everyone has a short attention span and needs a quick way to get information. This is where podcasts and newsletters come in handy. Whether you’re driving, exercising, or traveling, podcasts are a fun and informative source of information no matter where you are. Industry podcasts cover a variety of topics including founder’s stories, franchisee testimonials, and hot topics and best practices. To keep up with your favorite podcasts, you can subscribe to them and get notifications when new episodes are released. At the end of podcast episodes, hosts typically ask guests to offer ways to learn more, such as their social media or industry news site that they may write for.
Franchising News Sites
Franchise news sites provide you with resources and success stories to share with candidates who use your franchise consulting services. Founders' stories also give a behind-the-scenes look at the brand. A site that offers resources and the latest franchise industry news is FranchiseWire.
The franchise news site provides resources for women and minorities, veterans and students as well as expert advice for franchisors, franchisees and candidates looking to buy a franchise.
These articles are informative and digestible content that you show candidates about a brand they’re interested in. Many news sites also allow you to subscribe to their newsletter, so you have access to important articles in a single email sent on a daily or weekly basis.
While podcasts and news articles can be great sources of information, books give a deeper look at a topic that takes more time to digest and understand. For additional inspiration, you can give candidates books about building generational wealth, if franchising is right for them, and the importance of persistence. Reading inspirational books isn’t just important for Franchise Consultant growth; it helps your overall growth.
Franchise Broker Education: Knowing the Brands
To sharpen your knowledge about franchise brands, reach out to franchisors, franchisees and attend Discovery Days.
By speaking with franchisors, franchise business consultants get a sense of who the ideal candidate is and can get indispensable information about how the brand works, the financial requirements, and more. This knowledge of the brand will save you and the franchisor time since they know everything upfront.
Speaking with franchise owners in the system gives you a fuller picture of who succeeds with the brand and if your candidate has some of the same characteristics or background. This is the ultimate validation of a franchise brand.
Attend Discovery Days
Attending franchisor Discovery Day gives you the ability to get a behind-the-scenes look at a brand to determine if it's worth showing to candidates. It is important to not rush and take the time to ask specific questions. These can include:
- What differentiates the brand from the competition?
- What are your short- and long-term goals for the business?
- Are territories protected?
- What is a typical day like in the business?
Education for Top Franchise Consultants
To improve your Franchise Consultant business and stay ahead of the curve, you need to constantly educate yourself. You can do this by attending trade shows and conferences; subscribing to podcasts and newsletters; looking at franchising news sites; reading books; and more.
You should also take advantage of Franchise Broker courses offered by broker networks like IFPG. By calling franchisors and franchisees as well as attending Discovery Day, you become more knowledgeable about brands that you can show to candidates.