Most people have heard the word franchise. It often relates to some of our favorite companies! However, do you really know what it is or what it takes to become a franchise broker? Here at Franchise Brokers Association, we’re answering all your industry-related questions and extending a friendly hand in helping you find your next niche. Starting with what a franchise broker is and if you need a license to become one!
A Few Definitions…
To put it simply, at FBA we define a franchise broker as the bridge between a GOOD franchise and a person who wants to own it. Finding the perfect franchise match is quite intimidating to navigate alone, especially for first-time franchisees. The good news is, that people are looking to open franchises! But without the guidance to do it right, they search for franchise brokers to help. They are the needed and skilled professionals dedicated to putting franchisees into businesses they’ll love!
Now that may sound great to you, a prospecting franchise broker, but let’s get into the qualifications…
How to become a franchise broker
Are you a people person?
Someone interested in changing lives and making a difference in business?
Well, then you already possess a few of the must-have qualities of a franchise broker. Great! Now to answer your question, no. You don’t necessarily need a license or certification to begin your career in this business, however, industry wide it is recommended.
The not-so-pressing need to become licensed might sound appealing to any potential franchise broker. That is understandable. Most people want to dive right in! But a lack of credentials gives rise to many untrained brokers who have the power to topple the business dreams of many prospective franchisees. Good brokers solve problems, not create them.
Successful brokers possess certain professional knowledge which otherwise would prohibit them from breaking into the industry. So while the licensure is low, success means you need to be comfortable working with, talking to, and leading high net worth prospective franchisees. This is more than just those people skills mentioned above. There are techniques to be learned that require practice to have a positive transaction between both franchisor and franchisee.
Franchise Broker Training: How to become a franchise broker
Another amazing tool that you can add to your box is joining one of the training programs we offer at Franchise Brokers Association. We have four intensive programs at every level, designed to teach you everything you need to know to become an industry leader franchise broker.
Here are the programs we offer:
- Franchise Training Institute - our most comprehensive package yet. It's a 5-week course dedicated to teaching prospecting brokers the ins and outs of the industry. Further support and member base are offered after completion
- Current Franchisor Package - designed for the brokers who want a support team and additional resources to their already successful brokerage team
- Existing Business Owner Package - for those business owners who want to break into the franchising world without giving up their previous/current investments
- Agent Package - learn the ropes of franchising with an experienced broker from our team who will show you exactly what it's like to be in the industry
See a package you like and want to know how to become a franchise broker? Check it out here or get in touch with our team today!