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The Entrepreneur’s Source Explains How to Take Charge of Your Life and Achieve YOU 2.0

The Entrepreneur’s Source Explains How to Take Charge of Your Life and Achieve YOU 2.0

What is You 2.0?

Consider this: Everything you have done up until this point in your life can be considered 1.0. It is not necessarily bad; It got you to where you are today in life, but what could the possibilities be? What can you do to be even better and to achieve what you want in life, whether it is income, lifestyle, wealth, or the equity you have always wanted? That improved person can be considered You 2.0.

If you and I were to meet again a year from today, what has to have happened in your life both personally and professionally for you to be happy with your progress? Those things make up the blueprint that will help you create and get to that next version of you.

So ask yourself: Is it time to reinvent myself? If yes, see the below steps to begin on the self-discovery process and embrace a new You 2.0:

Identify Setbacks –With all the fear and uncertainty that comes as a result of the Battered Career Syndrome, it becomes imperative for an aspiring entrepreneur to recognize those feelings as potential setbacks. As children, we used to have the ability to act on our end goals without the fear of failure. In order to move forward with a new business venture, we must regain that child-like ability and have faith in our skills to carry us forward.

Redefine short- and long-term goals – One of the most important things to do when seeking to become self-sufficient is to take the time to identify your Income, Lifestyle, Wealth and Equity goals (ILWE). Whether your goals are short term – spending more time with family – or long term – providing business equity for your family in the future – being honest with what’s important to you is the only means to determine your vehicle for success.

Identify your vehicle – After defining your desired ILWE, you can begin researching the business venture, or vehicle for success, appropriate to reach your goals. There are thousands of franchise concepts with systems already in place to ensure franchisee success – this step is about finding the right fit for you.

To help aspiring entrepreneurs learn more about how to start building the blueprint for self-discovery and transform into You 2.0, visit www.entrepreneurssource.com


The Entrepreneur’s Source Explains Why Franchising is an Ideal Career Path for Veterans

The Entrepreneur’s Source reviews why franchising may be an ideal career path for veterans.

As military veterans transition to civilian life, they face a difficult employment market. To help military veterans take control of their professional career and future, franchise business coaches with The Entrepreneur’s Source, the nation’s leading career and franchise business coaching network, share why franchising is a viable option for today’s veterans looking for a sufficient way to achieve their desired Income, Lifestyle, Wealth and Equity goals.

“As they return stateside, our service men and women should ride the crest of the economic recovery by taking advantage of franchise business opportunities,” said Terry Powell, founder of The Entrepreneur’s Source. “Franchise ownership provides an established, proven business model, ongoing training and support and an ideal structure for returning veterans to smoothly transition back into civilian life and the working world.”

Due to their training and discipline, countless military veterans have found franchised businesses to be a perfect fit for their skills. In fact, one out of every seven franchise businesses are owned and operated by veterans of the U.S. military, according to a recent study from the International Franchise Association (IFA). There are over 238,000 veterans and military spouses that have found opportunities in the franchise industry as either employees or franchise owners. There are over 6,500 veterans that have become franchise business owners since 2011.

“With prescribed operating systems, franchises are a natural fit for military veterans who are trained to follow standard operating procedures,” Powell added. “Besides being coachable and comfortable in a structured environment, veterans offer the ability to make decisions. All franchisors seek these qualities in franchise candidates, making veterans an ideal choice.”

To attract qualified veteran candidates, many franchises offer incentives, such as reduced investment fees, through the VetFran program, an initiative led by the IFA to help veterans transition from the military to the business world. Special financing options are also available to military veterans interested in getting started in small business ownership, such as the Patriot Express program offered by the Small Business Administration (SBA). This loan program streamlines and expedites loans, and includes additional assistance from the SBA and its partners in obtaining financing.

For more information on franchise opportunities with The Entrepreneur’s Source visit http://www.theentrepreneurssource.com/discovery/


The Entrepreneur’s Source Asks: Is a Semi-Absentee Franchise Right for You?

The Entrepreneur’s Source Asks: Is a Semi-Absentee Franchise Right for You?

You don’t necessarily have to quit your day job to become a franchise owner. Not all franchise concepts need an always-present franchisee at their location. Instead, many franchise concepts solely require a semi-absentee owner with a smaller time commitment to work on the business. Below, The Entrepreneur’s Source explains the ins and outs of the semi-absentee franchise model.

What is a Semi-Absentee Franchise?
Essentially, a semi-absentee franchise is a business concept that an individual can start and operate on the side while simultaneously having another job or obligation in the mix, compared to a full-time business that requires complete effort and constant presence. It’s important not to confuse semi-absentee ownership with partial ownership. Being a semi-absentee franchise owner oftentimes requires the same amount of capital, time and initial investments from a franchise owner to get the business up and running, but once it’s operating the semi-absenteeism begins. Once this is achieved, semi-absentee franchise owners typically spend 10-15 hours per week working on the business. It’s imperative for prospective franchisees to understand that semi-absentee models can potentially take longer for them to turn a stable profit due to spending less time working on the business.

How do these Concepts Work?
Many franchise brands specifically structure their models to run this way for various reasons, but regardless of the reason, it’s important for prospective franchisees to understand this. Where people tend to get into trouble is when they try to turn a business that is intended to be run by a full-time franchisee and try to turn it into a semi-absentee model. For this reason, individuals looking to invest in a semi-absentee franchise brand are advised to contact a business coach at The Entrepreneur’s Source to help them to identify specific concepts that employ this model. In the end, it’s important to make sure that with whatever concept you invest in it fits in with your overall long-term strategy, ability and time availability. Franchise brands that embrace this model range from brick and mortar stores to mobile or portable businesses even to vending and kiosk-based concepts – the options are vast.

How to Know if A Semi-Absentee Franchise is Right For You
When contemplating whether a semi-absentee business is the right investment for you, it’s essential to examine your needs, goals and expectations of your investment. Do you want to become a franchise empire builder? Do you want to build numerous concepts?  How much capital do you have to invest? Consulting with a business coach at The Entrepreneur’s Source can better help a prospective franchisee identify the right questions that he or she should be asking himself or herself before deciding on a model. Prospective franchisees need to consider what will be required from him or her with the presented franchise opportunity and if this meets the needs, goals and expectations of that individual.

Take the First Step, Contact The Entrepreneur’s Source Today
For those wanting to take the next step toward the route to self-sufficiency and business ownership or for individuals looking to learn more about semi-absentee franchise brands, contact a business coach at The Entrepreneur’s Source today.


The Entrepreneur’s Source Shares Five Tips on Reviewing FDD’s

Terry Powell, founder of The Entrepreneur’s Source® helps aspiring franchisees tackle Franchise Disclosure Documents

Decoding the language and structure of Franchise Disclosure Documents (FDDs) is one of the most difficult challenges facing any aspiring franchise owner.  Even if these franchise prospects pursuing alternative careers that allows them to take control of their lives, have experience with franchise terminology and legal documents, full-scale FDD reviews can still be difficult and intimidating. And regardless of any prospect’s comfort level, reviewing any FDD without the help and support of a franchise coach who has spent decades in the franchising space is downright dangerous, as the chance of selecting the wrong franchise opportunity is infinitely more likely.

To help franchise prospects take a more strategic approach to the FDD review process, we asked franchise thought leader, Terry Powell, to provide us with five quick tips for getting started. Few leaders in franchising are better equipped than Terry to share these insights as he is the man responsible for building The Entrepreneur’s Source®, the leading national franchise coaching company that is devoted to helping franchise candidates find powerful alternative careers through franchising, from the ground up for more than 30 years.

Terry Powell’s Top 5 FDD Tips for First-Time Franchise Candidates

1. Expect Unknowns
FDD’s can be daunting. You need a skilled guide. Work with a franchise coach to learn the difference between the actual FDD section and Exhibit of the Franchise Agreement

2. The Franchise Agreement is What Counts
Remember that the only binding document if/when you become a franchisee is the Franchise Agreement, not the FDD in its entirety. The FDD only summarizes certain provisions in the Franchise Agreement.

3. Take Time to Analyze Mission Critical Items
Focus your attention on items 1, 7, 12, 19 and 21 in the FDD as they describe mission critical components of the franchise opportunity, including the brand’s history and leadership team, required initial investment and the financial performance representation.

4. Always Ask Yourself, “What am I missing?
The key to successfully reviewing the Agreement is asking yourself, “What are my rights and obligations if I enter this agreement?” A franchise coach can help you answer that important question.

5. Under No Obligation
Understand that being asked to sign a receipt for an FDD does not bind you or obligate you to proceed with the investment.
If you have any questions regarding any of these tips or any other franchise matter, contact an alternative career coach at The Entrepreneur’s Source® franchise today. E-Source coaches can provide you the leadership and guidance that you need to help you uncover if an opportunity may be the right fit for your goals and aspirations. For more information on how a coach can help you better evaluate franchise opportunities, contact a coach today. https://www.entrepreneurssource.com/blog/contact/