One of the most challenging aspects of business brokerage is the double mission of selling listing services to business owners and selling companies to buyers. This is very uncommon in other types of businesses since selling generally involves selling to a homogeneous type of customers. Buyers and sellers have different needs and perspectives so selling to buyers involves a different set of skills than selling to sellers. This explains the low percentage of beginners who don't make it in this profession.
Selling new franchises is how ever much simpler. A franchise broker/coach/consultant has access to a variety of franchise contract with different franchisors and needs to find potential buyers who's personalities and skills fit with the franchises. While this profession share many commonalities with business brokerage, it has major differences and is accessible to a larger pool of career changers.
- Brokers need to find buyers and sellers while franchise consultants can only focus on buyers
- Business Intermediaries need a real estate license in Canada and a number of US states while Franchise Consultants don't need any.
- Business Intermediaries miss a large number of prospect buyers who lack the money, the skills or the personality to purchase and existing business while franchise consultant can help a larger pool of buyers since they have access to a much larger pool of franchise opportunities.
- Business brokerage requires deep knowledge in Finance, Accounting, Sales, Psychology and Human Resources while selling franchises principally needs people and coaching skills.
Just like brokerage, franchise consulting offers huge income opportunities for high energy individuals who have the persistence to learn and grow the business.
Some large US franchised companies have specialized in franchise coaching and consulting and have created a efficient system for representing north american Franchises.
