It’s no secret that being a franchise broker is an exciting and rewarding profession. Whether you’re helping people sell their businesses or making their dream of owning a business a reality, the brokerage profession is a career worth considering. But did you know that many people who become franchise brokers were actually first looking to become franchisees themselves? In fact, many people are driven to become brokers after having a dissatisfactory experience with a franchise broker, according to our CEO Sabrina Wall.
“I find this to be really interesting and it’s – in fact – the way that I became a franchise broker,” Wall explains in the video, commenting on the finding that most brokers were initially franchisees seeking to purchase their own franchise.
“When I go through our training programs every single month, more than half of the people in the training class have a similar experience,” Wall reveals.
“One of the things that I hear commonly is that they [franchisees] immediately think: ‘Well, if this is the job and this is the role that they [franchise brokers] are doing, I can do a better job than this franchise broker.’ That’s their impression after working with a franchise broker,” Wall discloses.
Franchise Brokers Should Be Trustworthy Allies
However, that is not the impression that franchisees should have after working with a franchise broker. Franchisees should walk away from a meeting with a broker feeling motivated and confident knowing that their broker will diligently advocate for them regardless of the challenges that may arise during the demanding process of buying a franchise.
“When our brokers work with clients, the client walks away saying, ‘They earned their commission. I couldn’t have done this without them. I learned so much. They were really looking out for me through this process.’ And that’s the kind of brokers that we want to be. Those are the kind of business professionals that we work towards [being] every single day,” Wall details.
“It’s not simple to be the best. It’s hard to be the best. It takes diligence. It takes commitment. It takes a willingness to move towards the challenges, to move towards the problems and to deal with them as they come up,” Wall adds.
How We Help Franchise Brokers Succeed
Although a desire to help others is an important characteristic in adept franchise brokers, so is business acumen and an overall understanding of franchise business operations. That is why the Franchise Brokers Association ensures that all the brokers who join its team have access to a comprehensive training program that educates them on the franchise sales marketplace and trains them on how to best help franchisees buy the right franchises. In addition to the franchise broker training, the Franchise Brokers Association also offers a one-year mentorship program to accelerate its brokers’ success in the franchise industry.
“If you don’t understand business and you don’t understand what makes a good business, how can you advise people looking into going into franchising which franchise is good or not? And if you don’t have that knowledge, were you properly trained by your broker group? If you weren’t, then you’re probably doing a disservice to the clients. They need to know that their broker knows more about business and about franchise than they do. So, we look to bring in the most professional executives into our franchise association,” Wall explains.
“We look at the franchisor track record first and then based off of the track record – after we feel comfortable with the brand – that’s when we look at the sales and marketing information and your broker should be doing the same,” Wall notes.
Contact Us Today
If you’re looking to embark on your franchise broker journey, the Franchise Brokers Association can be your guide and ensure that you work on your terms while helping put others in a business they love. By leading franchise brokers on the path to success for more than a decade, we’ve raised the bar for the franchise industry and we’re confident we can be of service to you too.
Interested in becoming a top-tier broker in the industry? Learn more about our Franchise Training Institute and how we can support you on your journey to becoming the best franchise broker you can be.