Many people who work in the financial sector contemplate starting their own business. It’s a logical step, from working for a corporation or firm to becoming your own boss and setting your own schedule. The challenge, however, is not only do you need to manage your client’s finances, but you also need to manage your own, as well as all the other administrative duties that go with being a business owner. Some might say to themselves “Well that shouldn’t be too hard. I already balance the books for my clients, what’s so hard about balancing my own?” But while managing your own finances may be something to which you’re accustomed, handling marketing, human resources, customer relations, and other aspects of a business might not be your forte. You may want to consider an alternative method for starting a financial services business through starting a financial franchise.


No matter how well or how bad the economy may be at a given time, there’s always a need for financial services. Businesses both new and established are often in need of advice from the experts, especially when their leadership doesn’t have any in-house financial expertise. In tough economic circumstances, businesses want advice on how to make the most of every penny they have and how to cut their costs without hurting their employees or company. When the economy is doing well, businesses want to know how to maximize their profits and revenue, and the smartest way to use their money.

Because the need for financial services is always there, it’s an industry with no shortage of members, which means plenty of competition. New independent financial businesses have an uphill job trying to stand out in the crowd, even more so if there are bigger firms, companies, and groups already established in their service area. It can help to have a recognizable brand name from a reputable franchise.


Someone who wants to get away from the corporate rat race, to stop being an employee, and have more control over their career might hesitate to join a franchise. But rest assured, franchising is not the same thing as being an employee. As an employee, your workload, your assignments, your paycheck, your hours, and many other aspects of your job are all set by somebody else. As a franchise owner, your only limitations are those set by the franchisor’s business model, which are far more flexible than those an employer sets for their employee. You set your own schedule. Your franchise’s profits are your own. How you delegate responsibilities to any staff you may have is your decision to make as the business owner.

Granted this is still the case with starting a business alone. However, when you start a business solo, you don’t have a ready-made support system to turn to if you face trouble. When running a solo business, any support services you need you’ll have to arrange for or provide yourself, from marketing to human resources to IT services. If your business runs into problems, you’ll have to find the answers for yourself or hire a consultant to help figure them out. Finally, starting out as a new business can mean starting without any industry connections. If you previously were an employee for another company, you can’t expect any of your clients or business associates to follow you once you leave. They may have standing agreements/contracts/accounts with your former employers. If you’re starting a business on your own, you may have to start networking from square one.

If you join a financial franchise, your franchisor provides you with a variety of support services in return for your franchising fees. Franchisor support often includes training programs, marketing services, industry networking, client referrals, and technology services.


Financial services take a variety of different forms, and there are just as many financial franchises to go with them. Depending on the type of financial services in which you have experience, you may be suited for one or more different types of franchises. Financial industry services can be divided into five general categories:

  • Financial advisors – Financial experts who provide their clients with a variety of different services, such as investment due diligence, valuation, and real estate assistance.
  • Wealth Managers – Accountants who help clients manage their savings.
  • Banking – Financial institutes that manage checking and savings accounts, as well as provide loans.
  • Insurance – Companies that provide financial aid to their clients during emergencies in exchange for regular fees.
  • Mutual Funds – Investment groups involving multiple shareholders.

Franchises can be found spread out throughout the financial industry, with a variety of different business models. Among the existing financial franchises are certified medial revenue managers, property/casualty insurance companies, and business accounting firms.


If you know the general kind of franchise you want to get into, you also want to consider a niche that suits your talents and interests. A financing niche can be defined by the kind of market you want to target. For example, you may want to provide your financial expertise to a particular group with which you’re affiliated. This can be a social group, a professional/industry group, a regional group, or other specific set of people to whom you can relate and customize your services.

Tech-savvy and traditionalists are also two good markets to target. When it comes to financial service, some clients prefer to use the latest technological techniques to keep their records, handle their investments, and improve their businesses. Others prefer to maintain tried-and-true methods that are effective, even if they’re not the trendiest or up to date. For the traditionalists, you can customize your services to act as a go-between to bridge the gap between your clients and the rest of the industry, while for the tech savvy, you can help them stay on the cutting edge by keeping on top of new and developing technology.

Financial education is an important niche for anyone who has a passion for teaching clients how to better manage their finances. Many clients need help with their accounting, their investments, and their savings because they simply lack the knowledge or experience to recognize the best financial practices or to know when and how to respond to changes in their financial situations. There are plenty of financial service franchise opportunities in providing clients with mentoring and coaching.


Every entrepreneur looking to join a franchise wants to find the best opportunity for them, and for you, it may be with ERA. We’re an expense reduction franchise dedicated to helping businesses find extra cash flow through savings and improved operational efficiency. Our consultants have expertise in a wide variety of industries, including the financial industry, to fully evaluate their business operations and find as many ways to save and streamline their operations as possible. As an ERA consultant, you’ll become part of a global network of industry experts, all working together to advise our clients. We provide our franchisees with a suite of benefits, including a 10-year renewable franchise license, training that includes up to six months of one-to-one coaching, in-field dedicated support and mentoring, marketing and sales support, 24-hour IT support, lead generation support, and more.

Learn more about our franchise opportunity by filling out this form and one of our representatives will be in touch.

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