“Do you have any information on franchise brand X?”

Because The Entrepreneur’s Source has coached thousands of individuals and families in discovering their ideal franchise opportunity since 1984, we’ve seen and heard a lot from our Clients. One of the most common requests our Coaches receive is, “Do you have any information on franchise X?” – with X being the currently trending franchise opportunity in the nation.

Our network of coaches are well trained and experienced at addressing this common question because it happens frequently. Instead of discussing specific franchise companies at the start, our methodology focuses on your Income, Lifestyle, Wealth and Equity goals first and foremost. By taking this education, awareness, and discovery approach, 95% of our clients have said they explored possibilities they would have never looked at on their own, or may have prematurely dismissed. If you’ve gone through the five step Franchise Match process – Step 3  allows you to select from a long list of industries that would be most appealing to you. While your coach may explore some of these industries with you, it’s important to keep an open mind and be open to new possibilities you may not be thinking of. This is one of the many benefits of working with an Entrepreneur’s Source coach.

What types of business does your market actually need?

While your Entrepreneur’s Source coach may explore a variety of industries with you, it’s important to keep an open mind in order to be truly receptive to new possibilities you may not be thinking of.  There are many options to becoming self-sufficient, but to make sure your goals are REALISTIC, you have to discover how others have accomplished taking control of their lives and financial futures.  You also have to be open to blowing up the old paradigms and ways of thinking.  Yes, that’s scary, but if you gather and examine the facts, not run with emotions or per-conceived ideas, and be really willing to explore, you might just find yourself ready to truly break free of the corporate bonds which hold you back.  These are just a few of the many benefits of working with a Coach!

Why isn’t franchise brand X available in my market?

What you will quickly find is that not all franchise opportunities are available in all markets.  The reasons a well-known, “national” franchise company may not be available are numerous, but may include:

  1. Local Market is Already Sold: Franchisors frequently work with area developers or multi-unit franchisees who agree to develop large markets over time.  Sometimes those development schedules can take years to complete, but if the franchisor has contractually committed the market you are interested in to an existing franchisee, they can’t award it you.
  2. Local Market is Unsupported: While most people tend to think of franchising as national or international expansion strategy, some new or emerging franchises intentionally grow within a region before they will commit to new location across the country.  If you find a franchisor unwilling to open in your state it may be because they know that providing support staff and services are not feasible at this point, but may be in the future.
  3. Local Market is a Registration State: 14 of our 50 states require additional legal filings that go above and beyond what our federal government requires each year from all franchisors. If you’ve identified an industry and live in a registration state, you may find that many franchise companies have not taken the steps legally necessary in order to even discuss new possibilities.

While there are other matters that come into play during the franchise discovery process, it’s important to keep an open mind about specific companies that may be available to you once you’ve selected a few different industries that should appeal to your local community.  Some companies you may not have heard of yet simply because they do not yet have a presence within your marketplace – this is actually a benefit to you.  If they were already known in your market, odds are good they wouldn’t be a possibility for you to consider since another franchisee is already committed. And keep in mind, whenever there are questions about various business industries or individual franchise possibilities, be sure to contact your TES coach for support and assistance.

Each year our network of Entrepreneur’s Source coaches help hundreds of families find their franchises and become business owners.  ESource coaches are educated and experienced with this process and stand ready to assist you with moving from Employment to Empowerment.

 

 

Find Your Franchise Industry

Find Your Franchise Industry First and a good Franchise Opportunity Next!