Unveiling the Path to Franchise Success

How Franchise Match and Career Ownership Coaching Transformed Our Journey, EP 107

Venturing into the business world might sound daunting, and owning a franchise can be even more so. That might seem like a challenge only suited for experts. However, with the right guidance and support, this journey can be more attainable than you might think. Today, we’re exploring how a Franchise Match can transform your business aspirations into a tangible reality, much like it did for Becky Delmonico’s family.

Learn how Becky and her husband overcame past franchise failures to seize new opportunities 20 years later.

Discover the crucial role that mentorship and financial guidance play in franchise success.

The Initial Steps: From Skepticism to Exploration

Becky’s journey began in corporate America, where she and her husband juggled demanding jobs while yearning for a career that offered more flexibility and personal fulfillment. They dipped our toes into the franchise waters years ago with less-than-stellar experiences. However, 20 years later, an unexpected connection on LinkedIn led them to a Career Ownership Coach from the Entrepreneur Source. 

Becky’s coach reached out, not with an aggressive sales pitch, but with a genuine interest in understanding her values, dreams, and concerns. This approach was refreshing and quickly transformed skepticism into genuine curiosity about the opportunities in franchising. “He enlightened me definitely on the franchising world,” she notes, emphasizing the diversity within franchising beyond typical fast-food chains. Intrigued, she explored this opportunity further with her husband, who was initially reluctant due to their past experiences.

Discovering Franchise Possibilities

Did you know that franchises account for over 10% of businesses with paid employees in the United States? (Source: International Franchise Association, 2021). This vast array of franchise models extends far beyond the typical fast-food chains, encompassing diverse sectors such as fitness, cleaning, and home improvement.

The Del Monaco’s were introduced to excellent possibilities, and they realized they had been too narrow in their perceptions of what franchising could be. Becky says: “We were presented several avenues: from home cleaning services to bathroom remodeling, and lastly, ‘The Exercise Coach’ – a fitness franchise that resonated deeply with our desire for a healthier lifestyle.

Building a Franchise with a Safety Net

“What truly set this journey apart from our previous attempts was the structured support and financing options available through Franchise Match and our Career Ownership Coach™. Back in the day, we struggled to secure financial backing. This time around, with Joe’s guidance, we explored innovative financing options like the Rollover for Business Startups (ROBS), converting part of our IRAs into investments in our future.”

Our coach also connected us with financial experts, guiding us to consider small business loans and home equity as viable pathways. As of today, approximately 56% of franchisees use non-retirement savings as their primary funding source (Source: Franchise Business Review, 2023). Knowing this gave us the confidence to push forward, reassured that we weren’t alone in facing financial uncertainties.

“It’s surprising again that you can get into some franchises with very little money and actually no cash up front.”

The Role of Our Career Ownership Coach™

Our Coach didn’t just open doors with introductions and financial advice; he was a constant presence, providing moral support at every step. He emphasized the importance of aligning our business pursuits with our personal values and long-term goals. This holistic view of franchise ownership instilled a sense of purpose, making this more than just a business venture – it became a family legacy waiting to unfold.

A Family Affair: Investing Together, Succeeding Together

According to Becky, Franchising, with the proper guidance, has granted us a unique flexibility in our lives. Balancing full-time jobs while establishing a franchise was no easy feat, but knowing our hard work was building something for our family kept us motivated. Over time, it became a family project, integrating our daughters into the business. A study by the U.S. Census Bureau reveals that approximately 30% of family-owned companies transition successfully from the first to the second generation (Source: Conway Center for Family Business, 2020).

Our ambition stretched beyond financial reward. This was about crafting an enduring legacy, something our family could nurture and grow together even as we transitioned fully into retirement.

Looking Ahead: Success Through Support and Networking

Now part of a vibrant business community, the Delmonico’s are actively engaging in local networking events and business chambers. This exposure not only broadens their potential client base but also solidifies their business footprint within the community. Franchise businesses create approximately 20,000 new jobs each year, contributing significantly to local economies (Source: Franchise Business Economic Outlook 2023).

“Throughout this journey, The Entrepreneur Source® and the franchising network have ensured we’re never left to navigate challenges alone. Weekly meetings with franchise coordinators clarify our progress and fine-tune our strategies. They celebrate our successes and analyze any setbacks, ensuring that we learn and grow continuously.”  Becky says.

Becky’s Final Thoughts: Embarking on Your Franchise Journey

As our story unfolds, the essential truth remains that franchising offers unprecedented opportunities for realizing personal and professional aspirations. If the thought of being your boss and crafting a secure future intrigues you, don’t hesitate to explore the resources available. Reach out for a Franchise Match consultation or consider the steady hand of a Career Ownership Coach™ to guide you through.

Remember, stepping into the business arena doesn’t require a leap of blind faith. With the right support, careful planning, and a dash of courage, you can unlock the door to a rewarding future. Just as we’ve discovered, in franchising, the road to success is paved with possibilities you may never have imagined.

Our family’s journey to franchise ownership has transformed our perspective on business, family, and the art of seizing opportunities. Whether it inspires you to take the first step or provides reassurance for your current path, remember – the next chapter of your entrepreneurial story is waiting to be written.

“And that’s the great part, is that we are investing in us, right? So that we are investing in our future with this franchise opportunity.”

Find Out More About Your Career Revolution:

Our mission is to help individuals explore self-sufficiency as an alternative career.

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Dedication:

We dedicate this book to the tens of thousands of clients who have allowed us to guide then through their Journey of Discovery – courageous people who have made their dreams come true by taking the path less traveled. You inspire us every day. May you, the reader, also achieve your dreams and may this book empower you and assist you in your journey.

—The Entrepreneur’s Source Career Ownership Coaches

We help them define their Income, Lifestyle, Wealth, and Equity goals and provide education on the best ways to achieve them. We don’t sell franchises – we help people achieve their dreams of self-sufficiency through business ownership. The approach is different, the experience is different. And it works.

 

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