How to Choose the Right Franchise for You [Part 2 of 13]

How to Choose the Right Franchise for You

The video discusses the process of choosing the right franchise for a potential franchisee.

Amanda Vargas, a franchise broker, emphasizes the importance of identifying the goals and financial situation of the buyer to find a suitable franchise.

The process involves completing a scientific assessment, exploring different funding options, and working with professionals such as CPAs and franchise attorneys.

Are you looking for a franchise to buy? Book a discovery call with Beau to learn all about owning a franchise - https://www.franuniversity.com/discovery-call

The process works as follows (in a nutshell - watch the video for more):

The broker presents the buyer with six to eight opportunities and guides them through due diligence and contract review.

Amanda also noted that many people end up choosing a franchise concept different from what they initially thought they wanted, and highlights the benefits of the franchise model, including the system and training provided.

Timestamps
[00:40] Basic framework of the whole franchising world from start to finish
[00:58] Tricky part for buyers when going online
[01:25] The brands that we have access to are most likely private
[01:34] Why do that franchise brokers exist?
[02:03] Identify what your goals are
[02:15] What is your financial situation?
[03:01] 10 steps of high-level processes manageable in a few months of work
[03:59] Franchising business is not for everyone, usually, it’s for the people who have sales and marketing skills
[04:29] High-regulated, accurate, and precise franchising process
[06:13] 8 out of 10 people who want to try franchising are not pursuing the business
[07:00] Reasons why you want to try a franchising model

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💥 Thanks for watching 💥
#franchisebusiness #franchise #franchisefinancing

About Beau: Beau Eckstein is a real estate entrepreneur, TV personality, and commercial mortgage advisor, specializing in construction financing and multi-family lending.

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