Welcome to our monthly series “Meet Our Consultants,” where we’re putting the spotlight on our local franchise matchmaking experts. These franchise specialists work with individuals every day that are interested, considering or ready to become business owners.
Let’s meet …
Dave Broughton, Franchise Consultant with FranNet of South-Western Ontario
Q: How long have you been with FranNet?
A: Broughton: 12 years in August.
Q: Tell us a little about your background?
A: Broughton: I am a Canadian Chartered Professional Accountant (CPA), and I also had 25 years as the CFO of an auto parts firm. That firm started at $10 million and grew to $250 million and was later sold to Carquest. I was also the CFO of a $100 million homecare business across Canada.
Q: Why franchise consulting?
A: Broughton: Franchise consulting fit my background. After working with branch locations my entire career, I learned to help people be more successful. It also fit my interest to keep busy past the normal retirement age.
Q: What do you like most about what you do?
A: Broughton: I get to help clients clarify their real interests and goals by showing them a franchise opportunity that would help them be more successful than they had ever contemplated.
Q: What is the first conversation you have with a new client?
A: Broughton: I usually try to find some common ground with my clients. Most times I have done business in their community, and I often find mutual interests in people we know or I connect with them through family, sports, future goals, bad boss stories etc.
Q: What are the top three frequently asked questions you hear from clients?
- “I don’t want to waste your time because I am still trying to figure out what I want to do.” This is how all of our clients start. Our unique FranNet process will help you to define your goals and clarify your options. We will coach you to make an informed decision that is best for you. If you do not buy a franchise we may still benefit if you value our service and send us a referral.
- “Why would I pay for a franchise in that business when I could do it myself?” More often than not the franchise will be much bigger and more successful through the power of their proven franchise model. It is likely you will enjoy the business much more by focusing on finding and developing client relationships instead of being mired in the details of building the structure.
- “Why would I go into that business when there is so much competition?” If “too much competition” was an issue, FranNet would not be recommending it and I would never present it to you. All opportunities that are attractive have lots of competition. Their success is derived from a proven business model, which gives them a competitive advantage. You can confirm this with existing franchise owners, which many FranNet clients have already done.
Q: If you could give just one piece of advice to individuals who want to become a business owner/own a franchise business, what would it be?
A: Broughton: Do NOT underestimate yourself. Your experiences and skill set will be a good fit for different business opportunities. These opportunities will provide you with more financial rewards, satisfaction and control in your life than whatever job opportunities you are likely to be presented with.