Buying a Business FAQs

Buying a Business FAQs

Here are some of the most common questions we get at BizFranHub about who we are and what we do. If you have a question not answered here, please reach out and ask.



What is BizFranHub?

We’re franchise consultants and business brokers. You may have seen other people going by similar names, including franchise coach or franchise broker. At BizFranHub, we’re dedicated to transparency and building the best possible outcomes for the people who work with us. That means:

  • We help employees become entrepreneurs;
  • We help expanding businesses develop a franchise model;
  • We help franchise brands find serious, high-quality franchisees to operate their locations; and
  • We help business owners who are ready to sell prepare their business for sale, create a listing, and start screening potential buyers.

What is a franchise?

A franchise is a way to start your own business through a proven, profitable business model. As a franchisee, you’re in business for yourself, not by yourself. The corporate headquarters provides a safety net, training you in how to run the business and offering lifetime support.

Franchise companies have perfected their business models through years of trial and error. The company, or franchisor, has established the brand identity, management systems, and operations of the business.

They offer tested and proven risk mitigation, marketing, and startup help. Franchisees also benefit from corporate’s experience, purchasing power, and access to financing.

A franchise is a partnership, not a purchase. You and the franchisor will go through a discovery process to learn about each other before deciding if you’re a fit. You will get to know the brand, company culture, and the team at the corporate office. You’ll talk to other franchise owners to get their perspective.

If both you and the franchisor decide to move forward, you will enter into a franchise agreement, a contract that spells out each of your rights and responsibilities. You will pay a fee to join the franchise.

What does a franchise consultant do?

A franchise consultant helps people explore the world of franchising to find the franchise opportunity best suited to them.

Our free process starts with a short meeting to talk about what you’re looking for in a business and how soon you’d like to start. You’ll be asked to fill out an assessment that asks about your needs, goals, background, and the kind of opportunities that interest you. You’ll spend about an hour with your franchise consultant talking over your assessment.

Second, we match your goals and interests against hundreds of opportunities. We present you with the best six to eight options, then listen to your feedback. We keep looking until you find the opportunity you know is right for you.

Third, your consultant is your advocate in the discovery process. We make sure you get the chance to talk to other franchise owners and to interview the corporate team. We review the company’s mission and vision with you and make sure they align with what you believe.

Finally, we celebrate your new venture! We help you make strategic connections to business advisors, bankers, accountants and attorneys who can help you along the way. Then we help you get ready for your grand opening.

How much do franchise consultants cost?

Our services are free to buyers. When the sale closes, we get a percentage of the franchise fee. As a buyer, you pay the same fee to the franchisor whether you work with a consultant or not.

We have no quotas to meet and no incentives to match people with opportunities they don’t fit.

Can’t I buy a franchise directly from the franchisor?

Sure you can. But either way, you pay the same franchise fee. If you use our service, you get an experienced franchise consultant in your corner making things easier every step of the way. It doesn’t cost you anything.

The franchise you’re considering may not be a great fit for your goals and needs. And the contract and negotiation process is overwhelming if you’re not familiar with it. Our inside knowledge helps you feel confident you’re buying a business you’ll be happy in.

Can BizFranHub save me money?

In business, time is money, and we save our clients hundreds of hours.

When it comes to established businesses, the best are sold through business brokers like us before they ever hit the open market. We can give you the inside scoop on successful businesses quietly looking for buyers.

Researching businesses, finding a good fit, reviewing legal documents – working with us gives you more time and less stress for the same amount of money you would pay to figure it out yourself.

Is there a BizFranHub consultant near me?

Our home office is in Chicago, but we have consultants, brokers, and partners all over the country. Contact us to see if we have a consultant near you.

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