Step 3: Explore

Dive into the best franchise brands on the market today, learn how to compare your top choices, and decide if you should hire a franchise broker.

Now that you have the franchise basics under your belt, the fun part of exploring various franchise opportunities can begin. We recommend you start broad and explore many different industries and business types within your investment range. Try not to focus too much on just one or two opportunities — you want to keep your mind open to lots of business possibilities early in your exploration process.

Our Franchise Matchmaker quiz can be a great tool to introduce you to businesses you may not have considered. It only takes a few minutes to complete and will give you great insight into unique opportunities.

Exploration Begins with Looking at the Top Rated Brands

Exploring all of your options is critical at this point in the process. Our Top 200 Franchises ranking highlights the best franchise opportunities based on owner satisfaction. There are thousands of franchise opportunities available to business owners today and many companies claim to be the “best franchise”, but our research delivers the most comprehensive list of today’s top franchise opportunities based on actual reviews from over 28,000 franchise owners across more than 300 of today’s leading franchise companies.

Key Factors to Consider when Choosing a Franchise

  • Compare the support systems that each franchisor provides their franchisees
  • Assess the franchisor’s professionalism, starting with your initial outreach
  • Make certain you and the franchisor are on the same page when it comes to mutual expectations
  • Learn the franchisor’s sales and business approach
  • Read online reviews, including FBR’s Franchisee Satisfaction Reports
  • Gather honest feedback from current franchise owners on their experiences, including unexpected challenges they encountered
  • Attend franchise events and be prepared to ask LOTS of questions
  • Solicit trusted second and third opinions on your final choices
  • Download our Franchise Comparison Worksheet where you can rate each franchise

Franchise Broker Option

What is a franchise broker? A franchise broker is a third-party agent with the goal of matching prospective buyers with the right franchise opportunities. Because of their franchise expertise, a broker can help you narrow your search and guide you through the franchise buying process. That said, it’s important to understand that brokers earn commissions from the franchise company, and their interests are not always aligned with yours. For more information, read our article on the pros and cons of working with a franchise broker.

Pros of Working with a Franchise Broker

  • Franchise brokers can expose you to many different opportunities.
  • Working with a broker can speed up the research process.
  • Brokers have access to available territories for different franchises.
  • Some brokers have many years of franchise experience.

Cons of Working with a Franchise Broker

  • Brokers are paid on commission and represent the franchise company, not you.
  • Many brokers represent riskier, emerging brands with limited history of success.
  • Brokers may push you toward multi-unit opportunities to raise their commissions.

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