Frequently Asked Questions
Why use a franchise broker and not go directly to the franchisor?
We use our industry experience to provide you with the information you need when you are considering buying a franchise business. We know which franchises are considered safer, more reliable, and most profitable. We also know which ones are currently available in your area. More importantly, we can help you determine which franchises are the best fit for your role as a business owner! With our services, you save time, money, and your sanity during the important decision-making process.
What are the benefits of buying a franchise?
The client does not pay for the services we provide. You pay the same price for the franchise just as if you had gone directly to the franchisor. The franchisor absorbs our fees into their marketing costs. The franchisors respect the processes we follow and recognize the quality and type of candidates we refer to them. We are uniquely able to provide a win-win scenario for the client and the franchisor.
What are the benefits of buying a franchise?
Franchising offers individuals the opportunity to be in business for themselves, but not by themselves. The franchisor offers support, experience, and knowledge of all aspects of the business. They have been there so they know what challenges can arise and the best ways to overcome them. When you join a franchise concept, you get to “stand on the shoulders” of all those who came before you.
​
Franchisors provide you with the tools to be successful. They will train you prior to your opening. They give you advertising and marketing support that can help build your business. Most importantly, a franchise reduces your risk with systems proven to work. Their training and support help you handle whatever comes up along the way.
How long will it take to get my business started?
This depends almost entirely on you. After starting our process, if you are motivated and responsive, we can typically find a great franchise match for you within one month.
Do I need specific industry experience to buy a franchise?
No, in fact, most franchisors prefer that you have no experience in the industry prior to owning the franchise. They prefer this because they want you to learn their systems and follow their processes and procedures. Franchisors are typically looking for candidates who are coachable and have transferable skills. They want people who can motivate employees, close sales, and manage operations efficiently.
How will Franchise Seek find the best franchise for me?
We want to match you with the best franchise concept that meets your specific criteria. But we cannot do that unless we know what those criteria are. We learn these criteria by asking you questions designed to help us narrow our search and provide you with the best matches. Here are a few examples of the type of questions we may ask you:
​
-
What is attracting you to business ownership?
-
Have you owned your own business before?
-
How many hours and what time of day do you like to work?
-
Do you like selling or customer service?
-
Is there a certain location you desire?
-
How does managing people make you feel?
-
What kind of capital do you have available to start your business?
-
Is a recognized brand name important to you?
-
Do you want to have more than one location?
-
When do you want to open your business?
Once we have answers to these types of questions, we will create a personal profile for you and use it to research franchise options. The consultation process makes it easier to match you with the opportunities that meet your specific criteria. We will narrow down the choices to a short list of franchises. With just a few opportunities to evaluate, you save a lot of time and effort.
​
There are hundreds of franchise opportunities available to you. Sifting through them all can take months for a person without our knowledge of the industry. Many people get frustrated and give up. Using our service can help you avoid this situation and put you on the path to owning your own business that has everything you really want.
​
To be part of our inventory, each franchise concept has been thoroughly reviewed. We have high standards for every aspect of the business. By doing our homework, we are confident that we can offer you the best opportunities that are right for you.
​
What Is A Franchise?
What is a Franchise and what are the benefits?
Franchising is a business relationship between two entities wherein one party allows another to sell its products and intellectual property.. There are 2 general types of franchises - Business Format Franchising which is what most people think of when considering a franchise (concepts like McDonalds, Subway, 7-Eleven and others) and Product Distribution Franchising which is associated with product distribution (concepts like Coca-Cola, Ford, Exxon, and others). For the purpose of this website, we address and work with select franchise systems in the business format category mentioned above. A Franchise is often described as a business in a box; however, it is so much more than that. In basic terms, a franchise is a business opportunity that provides systems and processes often in a turn-key fashion that allow someone with limited to no experience in a particular category to start a new business and hit the ground running. Often these processes and systems will include access and use of trademarks, patents, marketing programs, training, national accounts, bulk buying, and more.
Is a Franchise and a Business Opportunity the same thing?
While similar in some respects, they are different in how they operate and how they are regulated. Some Business Opportunities are regulated by the contract laws while all Franchise Systems are not regulated by contract laws. An investment in a Business Opportunity is often an upfront purchase that may or may not require the buyer to buy supplies or services on an ongoing basis. Additionally, Business Opportunities are not legally allowed to charge an ongoing royalty percentage to the owner and they are also not allowed to make any financial claims as to revenue or profit potential. In a Business Opportunity, the company selling the opportunity will often make their money on the initial sale to the buyer and may make additional profits from forced ongoing sales of products or supplies.
​
The majority of franchise systems charge a fixed or variable royalty on an ongoing basis often for the use of their trademarks, systems, training, and ongoing support. Franchise systems can require that some or all of the products or supplies be purchased from them or from authorized vendors.
​
Both systems can have their pluses and minuses and there are few, if any, guarantees of success in either format.
What is a Franchisor and a Franchisee?
The Franchisor is the company that is offering the franchise concept for sale. The Franchisee is the individual business owner that has purchased or bought into the system.
Should I buy a franchise or start my own business concept from scratch?
Obviously this comes down to a personal decision. Franchising can make a lot of sense as it allows someone to move into an industry or category that they may or may not have experience or expertise in. There are numerous potential benefits in buying a Franchise including a proven business model and system, training, brand awareness, marketing and support programs, use of existing trademarks and patents, etc. Not to mention that there are people there to guide you (both from corporate as well as other franchisees) and help you sidestep potholes that you might otherwise be unaware of.
Is a Franchise right for everyone?
No. Franchises make great sense if you are wanting to buy into a concept and follow a system. While some franchise systems are flexible and open to suggestions on how to make their concepts better / different, others simply expect the franchisees to follow the proven system that has made the franchise brand successful. We can help you work through whether Franchising makes sense in your particular case.
What is a Franchise Broker and Why Should I Use One?
What is the difference between a Franchise Broker, a Franchise Consultant, and a Franchise Advisor?
In two words - very little. You may hear the term Broker, Consultant, Adviser, Coach, etc. used by various people in this industry. As they relate to matching individuals with franchisors, the services they provide are often very similar. The FTC classifies us as Franchise Brokers so that is how we refer to ourselves. Much like an executive recruiter, the franchise companies pay us a referral fee upon a successful placement.
What makes Franchise Seek different?
We love this question. We are a team of Professional Franchise Brokers working for you. Everyone in our office is uniquely qualified as they have both corporate experience as well as having owned their own businesses. We speak from a position of experience and understanding of what it takes to start a successful business and the challenges business owners face on a daily basis. We operate on a full-time basis out of professional office in the Mumbai area while many of our peers in the industry work part-time out of home-based offices. Additionally, we work with and maintain relationships with over 20+ franchise concepts. We use a state of the art matching system along with the best assessment tools and research information available on the market today. We also consult with companies looking to franchise their business as well as existing franchisors looking for specific development or operational support. We encourage you to stop by, give us a call, or send us an email to see how we can help you on your franchise journey.