Written By: Gouri Ghosh

Did you know India’s franchise industry is growing at 30-35% annually, and by 2025, it may reach ₹10,000 crores! This is very important for everyone who wants to launch a business. The problem is that people in India require reliable business counsel as the franchise sector expands. Entrepreneurs require assistance in locating suitable franchises, while franchisors require professionals to link them with qualified investors. At this point, launching a franchise consultancy presents a fantastic opportunity. You may create a successful business for yourself and help others succeed. Doesn't that seem exciting? Let's talk about how you may lead the way in this rapidly expanding market and establish yourself as a reliable business advisor in India!

Franchise Consultancy: Roles and Responsibilities

The franchise consultant is an important activity in the franchise business. Here is a comprehensive detailed overview of his/her main responsibilities:

• Guiding aspiring entrepreneurs in choosing the right franchise: Help potential franchisees select the best franchise that suits their interests, budget, and location.
• Help brands expand through strategic franchise: Deliver expert advice on how brands can expand through franchises, including choosing destination points and identifying a target market.
• Bridging franchisees with franchisors: Smoothen, as much as possible, communication between franchisees and franchisors regarding each other's expectations and requirements.
• Gives advice: Growth, risk management, and scalability. Assist the organization in preparing for sustainable growth and in managing risks as well as effective scaling.

Why Start As An Independent Franchise Consultant?

Increasing demand for consulting and advising services in India's booming franchise market:

The booming franchise industry in India has a very high demand for expert consultation. As an Independent Franchise Consultant, you will be in huge demand among various individuals and brands on the road to franchising.

Earn handsome income through multiple revenue streams:

Potentially a great earner: As an independent consultant, one can make money through consultancy fees, revenue sharing on franchise deals, and charging fees for training and continued support services - all of which greatly increase the earning opportunity.

An opportunity of a bygone reputation as a trusted business advisor:

Independent Franchise Consultant is someone who develops a reputation as a trusted advisor as the consultant helps the client yield success and attract more clients towards himself for years to come.

Purpose of being within the business ecosystem, both for the emerging entrepreneurs and the corporate giant brand:

It positions you at the center of a vibrant ecosystem, supporting both fledgling entrepreneurs and established brands entering the market for development. You act as a connecting bridge between them, thus nurturing the growth of both sides.

What Does a Business Advisor Do?

Guides key business decisions

• Guiding companies on growth, profitability, and sustainability
•  Keeps companies competitive in industry or market.

Expert advice over core areas

• Strategic planning about matching business goals.
• Financial management through prudent resource allocation.
• The making of marketing strategies by establishing brand visibility.
• Synchronization of operations to carry on smooth business processes.

Navigation Over Challenges and Reduction Over Risk

• Risk identification and devises solutions
• Help in making the best of tough hurdles.

Find opportunities in which growth can be achieved

• It analyses the market for finding new growth areas.
• Suggests expansions, partnerships, or innovations.

It Supports Long-Term Planning

• It ensures businesses set realistic goals.
• Guides businesses to achieve their goals efficiently over time.
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What is the Budget for Starting Franchise Consultancy as Business Advising?

To start a franchise consultancy as a business advisor, you will incur several costs. Below are the few expenditures that you need to consider.

Initial Setup Cost. 

Office space: The office rental or cost to establish a home office may cost you between ₹20,000 to ₹50,000 per month, depending on the place. Technology and Equipment: It would cost approximately ₹50,000 to ₹1,00,000 in investing in such as laptop, phone, internet connection, and business software. 

Legal and Licensing Fees  

• Register the business, and get the licenses; this could go from ₹10,000 to ₹30,000. 
• A lawyer would charge you between ₹20,000 and ₹50,000 even more as consultancy fees for drafting the franchise agreements along with other documents.

Marketing and Branding

• Professional branding, from logo creation to website development and marketing materials, would cost about ranging from ₹20,000 to ₹1,00,000 depending on quality and scope.
•  Digital marketing campaigns (social media, SEO, ads) are likely to fall between ₹10,000 and ₹50,000 per month.

Franchise Training and Certification 

• Franchise-related training or certification aimed at improving your skills and knowledge could cash out between ₹30,000 to ₹1,00,000. 

Operational Expenses 

• You will spend about ₹10,000 - ₹20,000 at start up on visiting cards, office supplies and other essentials of operation. 
• TOTAL ESTIMATED INITIAL INVESTMENT Low End: INR 100000-150000 High End: INR 250000 - 500000 

Business Advisor Salary in India 

The salary range of a business advisor in India is between ₹ 6,00,000 to ₹15,00,000, according to industry experience and expertise. While establishing your brand and clientele, this salary may tend to increase and highly when you establish your own consultancy.

Starting your Franchise Consultancy: Steps-by-steps

Research the Franchise Market

Evaluating the latest in franchise trends and insights into prospective clients in the times, followed by understanding the booming industries and opportunities available in the Indian franchise market.

Acquire Necessary Know-How

Acquiring a certification in franchise consultancy. Understood are things pertaining to franchise agreements, legality, and business model knowledge for building expertise and credibility.

Build Network

Connect with franchise partners and industry-specific people, attending events, and joining associations to keep up with and business build.

Set Up Your Consultancy

This has established setting up one's consultancy rather offline or online. Professional branding is used to cash in great website creating online presence to attract clients.

Define Your Services

Clearly, define services,  whether with franchising consults where clients help in selecting their franchises or with continued assistance to clients. This helps clients know how you can help them.

Market Your Consultancy

Use the course of digital marketing: using social media, content, or ads to promote services. Thus, show your expertise and allow new clients to be attracted and the brand to grow.

Tie-up with Franchisor

Build the relation with a well-established franchisor. Denote an exclusive value to consultancy you provide to the clients.

Ongoing Support

Beyond the establishment of franchises by clients, maintain continuous support and counseling for the clients to ensure a long-term existence guarantee. This is the trust and loyalty built.

Challenges and solution  to start Franchise Consultancy

You have to cross hurdles as a new consultant while establishing your reputation among peers in the industry.

Establishing Your Credentials as a New Consultant

Through blogging, networking, and understanding through social media, build up the eminent reputation. Business advisory services in India can then help establish credibility and trust.

Coping With Competing Expectations from Franchisees and Franchisors

Be a neutral advisor, listening to both sides to provide balanced solutions. Your guidance should make both parties realize their objectives as a trusted business advisor in India.

Continuing to Learn about the Changes in Franchise Business World

Continue learning through events and networking in the industry because that's how you become current and are able to provide the best counsel in business advisory services.

Making Sure Clients Are Happy While Upholding Professional Ethics

Be clear, set achievable expectations, and concentrate on the result. With this honesty, you shall maintain that trust in which you have been established as a trusted business advisor in India.

Conclusion

The Way to Become India’s Best Trusted Advisor 

Franchise consultancy starts as a single case. It takes dedication and expertise to embark on this interesting journey, and of course, the right approach. You need to do market research, acquire knowledge through certified courses, build networks, and establish a strong brand to get going. Once you set up your consultancy, keep extending your services with a vigorous marketing strategy and continuous support toward the clients.

This is an opportunity to make substantive contributions to the franchise ecosystem in India. Your work becomes profitable as you help entrepreneurs and established brands succeed and build an industry. 

Remember: In both the field of franchise consultancy and the wider business advisory arena, success is never without a degree of trust, expertise, and love. While you grow your consultancy, build long-lasting relationships with your clients by delivering reliable advice and solutions. This will enable you to become one of the most trusted business advisors in India and on the path towards long-term success.

FAQs

Does becoming a franchise consultant require any prior business experience?

No, you don't need any prior business expertise. But it's crucial to understand the fundamentals of business and franchising. Anyone may succeed as a franchise consultant with the correct instruction and commitment.

How much money does it need to launch a franchise consultancy?

The initial investment required to launch a franchise consultancy might range from ₹50,000 to ₹2,00,000. Legal registration, marketing, certifications, and perhaps office space are among the expenses. As you expand, you can scale up from a tiny start.

What kind of education or credentials will be useful to me in this line of work?

It helps to have training in business consulting or franchise management. Seek for classes offered by IFA, Franchise India, or online learning environments such as Coursera and Udemy. Your credibility and knowledge will increase with these certificates.

Disclaimer: The brands mentioned in this blog are the recommendations provided by the author. FranchiseBAZAR does not claim to work with these brands / represent them / or are associated with them in any manner. Investors and prospective franchisees are to do their own due diligence before investing in any franchise business at their own risk and discretion. FranchiseBAZAR or its Directors disclaim any liability or risks arising out of any transactions that may take place due to the information provided in this blog.