A combination of due diligence and connecting a timely opportunity with the ideal candidate is a recipe for franchisee and broker success. This rang true for FBA broker Adrienne Leigh, who closed a record deal with the sale of 22 Temperature Pro units in July.
When FBA Broker Adrienne Leigh first met her client and potential franchisee “Mel” in October of 2018 following an outplacement company webinar, she discovered he came with an open mind and a drive to generate profit on a large scale.
“He was truly the ideal client from the standpoint of keeping an open mind and doing his due diligence, and really asking great questions and giving thoughtful consideration to everything,” said Leigh.
Leigh immediately dug in and connected him with four viable options, and Mel dove into calls with franchisors. Just after the New Year, however, he decided to give himself one more opportunity for COO position before starting a business. Come March, he contacted Adrienne and said that he and his brother were ready to do something in Denver. At first, they explored the concept of a winery/wine bar. However, he found that this was not aligned with his goals of generating fast profit.
Instead, Mel said he was interested in exploring Temperature Pro. Adrienne connected him with the proper franchisor rep, where they learned that Temperature Pro had also been getting ready to launch Plumbing Pro -- and along with that the idea of their "Pro Network" that would include all three brands including Pop-A-Lock.
The CEO of System Forward (the parent company of all Temperature Pro, Plumbing Pro and Pop-a-Lock) owned the Denver territory for Pop-A-Lock and had been considering selling it. This was ideal timing for Mel, in that it opened up the Denver area to be the first "Pro Network" in their system – and he was first in line for a viable opportunity.
“Mel heard about that and really took the ball and ran with it,” Leigh said. “He saw a need-based, recession-resistant business that he and his brother could grow exponentially.”
The next four months, Leigh and the franchisor assisted with all the due diligence including the background on the existing Pop-A-Lock business. All of Mel’s concerns were carefully addressed by the franchisor, which was important with the existing Pop-a-Lock business in the mix.
“The franchisor really pulled out all the stops for the Discovery Day since they were also anxious to get their Pro Network launched and Mel and his brother Al were definitely great candidates to do so!”
Leigh continued to check in and assist with the franchisor rep each week, seeing Mel through the steps to closing. July marked the official close date for Mel’s new Denver enterprise. Leigh proves the recipe for broker success is careful matchmaking and technical follow-through.
“I think when the right candidate meets the right concept it can take on a life of its own.”
For more information on becoming a Franchise Broker, check out Franchise Training Institute, or join us as an FBA Member here.
There are a few difficult things in this world that we all experience, regardless of country and culture. These are wars, pandemics, and economic hardships. And though these make for tough times - throughout history, we have overcome them each time. As the economy starts to slow - both here in the US and globally, […]
If you've clicked on this article, chances are you're passionate about business and/or youth sports. Good news: You're about to uncover a golden insight, and you won't need to read much further to grasp it. A business that not only delights your community but also promises a healthy profit. That’s the dream, right? Yet, people […]
When considering the leap into business ownership, franchising is a compelling option. Often celebrated for its blend of freedom and support, buying a franchise is the best of both worlds. But like in any significant investment, franchising comes with its own set of pros and cons that potential buyers must carefully evaluate. At FBA, we […]
