Franchise Advisor Liz Leonard: Six Steps to Choose the Best Franchise to Buy

YARMOUTH, Maine, June 3, 2024 /PRNewswire/ -- For the thousands of candidates who annually consider investing in a franchise, choosing from among hundreds of franchise options can be daunting. But one franchise advisor says with the right guidance, candidates can succeed in choosing the right business to buy.

"Enlisting the expertise of a seasoned franchise advisor can alleviate the overwhelming process," assures Liz Leonard, franchise advisor and author of Your Franchise Fast Pass: Your

Step-by-Step Guide to Finding Your Ideal Business (2024, Best Seller Publishing).

Based on her extensive experience in the corporate world and a track record as a successful franchise owner, Leonard has shared valuable guidance as a franchise advisor since 2014. Her journey includes rising through the corporate ranks, owning a childcare center and later purchasing a franchise called Kitchen Tune-Up.

As a candidate considers the journey toward franchise ownership, Leonard says they should follow these six critical steps.

1. Education and Resources. A good franchise advisor will educate the candidate about the franchise industry's nuances, including regulations, costs, relationships and opportunities.
2. Assessments and Tools. An advisor should spend time learning about the candidate's background, skill sets, personal and business interests, and financial capabilities. Candidates should also receive personality and financial assessments to help determine whether they are qualified for business ownership and which type would suit them for the most successful outcome.
3. Guidance and Expertise. Based on the candidate's assessments, investment level and market, they should be introduced to proven franchise opportunities that would be a good match.
4. Due Diligence and Awareness. With each franchise opportunity a candidate decides to pursue, their franchise advisor should guide them through a due diligence process. This six-week research project gives the candidate a chance to get to know a franchise company's executives and franchisees so they can ask important questions.
5. Facts and Validation. Candidates should have the opportunity to speak directly with franchise owners, get a good look inside their business model and ultimately meet face-to-face with the franchisor's leadership team.
6. Funding Strategies. A candidate can get prequalified with lending partners and determine the most ideal funding strategies for their business. At the end of the process, the candidate should have a great deal of data to compare and contrast investments, ensuring they have completed their due diligence in narrowing down their choices.

Leonard's services come at no cost to the franchisee because her finder's fee is paid by the franchise company once a placement is made.

"This means candidates get all the guidance and support they need from an advisor for free," says Leonard.

Leonard emphasizes, "The guidance of a franchise advisor is invaluable in preventing the costly mistake of investing in a business that's not a good fit. The difference can be made by a franchise expert with real-world industry experience. Even more beneficial is a consultant who understands the realities of franchise ownership firsthand."

Some interesting statistics from the 2023 Franchising Economic Outlook report predicts an "anticipated increase of nearly 15,000 franchise establishments in 2023, a growth rate of 1.9 percent, totaling 805,000 units in the U.S." and a "forecasted addition of around 254,000 jobs to the franchise sector in 2023, with total franchise employment expected to reach 8.7 million, growing at a rate of 3 percent."

Leonard uses various tools, including an online proprietary education system with eight learning modules. These resources support candidates in finding the best match while also ensuring they follow all the steps during their due diligence process. She is dedicated to helping individuals find opportunities to build their wealth and achieve entrepreneurial success.

About Indie Book International

Indie Books International (Indie Books International.) is helping distribute the book Your Franchise Fast Pass. Indie Books serves as an independent publishing and book promotion alternative for business owners, consultants and agency owners to help these authors create impact and influence.

Contact

Henry DeVries
[email protected]
619-540-3031

SOURCE Liz Leonard