Despite laws against workplace discrimination, the playing field continues to be uneven, and bias persists. More than 21,000 U.S. Equal Employment Opportunity Commission (EEOC) complaints for discrimination based on sex were filed in fiscal year 2020. A survey from Glassdoor (via Business Insider) found that 42% of American workers surveyed had experienced or seen racism at work. A Gallup poll released in January 2021 found that about one-quarter of Black and Hispanic employees had been discriminated against at work in the last year. The EEOC received more than 14,000 ageism complaints for fiscal year 2020.
However, some industries are taking steps to promote diversity and inclusion. In franchising, initiatives have been introduced to foster equity and representation. Programs have been established to increase opportunities for underrepresented groups and promote business ownership as a means of building generational wealth. Reports from the industry show substantial growth in franchise ownership among minority groups over recent years.
Franchising presents significant opportunities not only for potential franchisees but also for the professionals who guide them—franchise consultants. These consultants act as facilitators, helping aspiring business owners navigate franchise options and determine the best fit for their skills, goals, and resources. The role is well-suited to individuals from diverse backgrounds, offering flexibility, the potential to work remotely, and the chance to make a meaningful impact by guiding entrepreneurs.
Franchise consulting can be an ideal career transition for those seeking a change, whether due to burnout or a desire for more rewarding work. The process begins with evaluating whether an individual is a good fit for franchise ownership. If so, the consultant identifies franchise opportunities aligned with the candidate’s capabilities and preferences. Consultants must prioritize the client’s best interests while facilitating connections with franchise options that have the potential for success. The process is mutually beneficial, as franchisors rely on consultants to introduce candidates who align with their brand’s values and requirements.
To excel in this role, consultants should stay informed about the franchise landscape, including cost structures, operational practices, and financial health. This involves not only research through traditional and industry-specific publications but also attending networking events to build relationships and gain deeper insights into franchise opportunities.
In their work with clients, consultants must assess each candidate’s financial capacity, goals, and personality traits. This helps in matching candidates with franchises that align with their vision—whether they prefer creative freedom, multi-unit operations, or absentee ownership. At times, consultants may determine that a candidate isn’t suited for franchise ownership, such as those who are excessively risk-averse or unable to adhere to the operational systems required by a franchise.
By maintaining ethical standards, building knowledge, and developing strong interpersonal skills, franchise consultants can play a pivotal role in supporting aspiring entrepreneurs while contributing to the growth of the franchise industry.
Once candidates are evaluated and establish their franchise goals, they often require financing to cover startup costs. This is where industry expertise and connections become invaluable. Franchise consultants can guide clients toward securing funding through government-backed loans or reputable private lenders, leveraging relationships built through industry events. These specialized lenders are familiar with the franchise funding process, often enabling faster access to capital and reducing the time from franchise approval to opening the business.
Franchise consultants see results that reflect their dedication and effort. Their expertise is essential, filling a knowledge gap in a significant economic sector where franchise businesses employ millions of people annually. A common misconception is that franchises are limited to fast-food operations, while in reality, they span diverse industries, offering services ranging from home maintenance and beauty care to retail, healthcare, and hospitality.
Another misconception surrounds the cost of franchising. Many franchises require startup capital in the lower five-figure range, which can often be financed. Here too, franchise consultants play a critical role by helping clients navigate funding options and secure the necessary resources.
When the process is complete, franchise consultants can take pride in knowing they’ve helped someone achieve their dream of business ownership, contributing to an industry that generates significant economic value and growth opportunities.
