Does anyone have experience working with FranchiseFit Brokers?

September 02, 2022

by a searcher from New York University - Leonard N. Stern School of Business in Los Angeles, CA, USA

Evaluating franchises and am connected with a broker at Franchise Fit who is working on my behalf. Anyone have experience working with them?

they participate in diligence, help set up calls with franchisors and assist in negotiation, but only get paid by the seller....too good to be true?

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Reply by a searcher
from University of Notre Dame in Charlotte, NC 28277, USA

I'll second John's comments - I've talked with dozens of franchise brokers over the years and find that same storyline from most of them (yes, I bought and exited one franchise previously but don't recall hearing of FranchiseFit). Feel free to DM me for more discussion but remember where incentives are aligned and long-term relationships exist (franchise development salesperson and broker each make money when you sign the franchise agreement with no connection to you after that transaction while they move on together to the next franchisee-candidate).

Reply by a professional
from Marquette University in Kirkland, WA, USA

I'm not familiar with Franchise Fit and every other franchise broker is what you describe. They usually run you through an assessment and recommend a short list of franchises. They do get paid by the franchisor. Keep in mind there is little to no negotiation. If the franchisor gives you something different than what is in the FTD they then must disclose it in their next edition and every new and existing franchisee will want the same terms. I speak from experience, I was part of a franchisor team.

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