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The Entrepreneur’s Source Reviews Why You’re Never Too Old (or Too Young) to Join a Franchise

The Entrepreneur’s Source Reviews Why You’re Never Too Old (or Too Young) to Join a Franchise.

Today’s franchisees come in all shapes, sizes, ages, genders and ethnicities. However, now more than ever the franchise industry is turning from an old boy’s club to an industry in which individuals of every age are capitalizing on. People in their 20s, 30s, 40s, 50s, 60s and beyond are all entering the franchise sector.

In today’s franchise world, age is just a number and in reality, you’re never too old or too young to pursue your dream of leveraging a business to accomplish your Income, Lifestyle, Wealth and Equity (I.L.W.E.) Goals. Today, The Entrepreneur’s Source reviews the wide array of generations currently turning to franchising to become autonomous in their careers and capitalize on a booming industry.

Millennials in Franchising
Rewind 10 years, and you probably wouldn’t have found a large amount of young adults in their early 20s and 30s in the franchise industry. However, this norm has forever changed since the 2008 recession hit and changed the job market for these workers.

Today, more than 50 percent of Millennials – or those born between 1980 and the mid-2000s – with a bachelor’s degree under the age of 25 are jobless or underemployed, reports The Associated Press. Millennials have been plagued with entering the job market at a time where it isn’t too welcoming for them. When the recession hit, many companies downsized and kept their most capable employees, not wanting to take on the more unskilled and less experienced Millennials. This has caused Millennials to become wary of working in corporate America due to decreasing job security and low employer loyalty – driving many of these individuals to turn to alternative career options like franchising.

“Millennials are a generation driven by risk and innovation,” The Entrepreneur’s Source®Terry Powell said. “With limited job opportunities and natural independent drive, the entrepreneurship and stability of franchising is an appealing career path for Millennials.”

Many individuals unfairly plaster this generation with negative characteristics, but in fact, many of these so-called “bad” Millennial characteristics are good for entrepreneurship. Millennials are commonly negatively accused of wanting to live luxuriously, being impatient and relying on technology. Whether these characteristics are true isn’t the point. All three of these qualities are commonly viewed as negative, but when applying them to entrepreneurship they can actually be translated into strengths.

Generation X in Franchising
Generation X – or those born between 1960 and 1980 – are oftentimes dubbed as the “neglected middle child” generation, oftentimes being overshadowed by their older and younger “siblings” the Baby Boomers and Millennials, respectively. However, when it comes to franchising, they’re taken very seriously and are integrated into the sector.

The biggest factor driving individuals from Generation X to move to the franchise industry is their overwhelming pessimism about their ability to retire. According to the Pew Research Center, a near majority – 44 percent – of people in Generation X aren’t confident about their ability to retire. When the recession hit, many Generation X-ers found themselves as the victim of widespread company layoffs in corporate America, leaving them at a crossroads of where to turn for employment.

Similarly, many individuals in Generation X chose the route of franchise business ownership due to the increased control over employment and their future. These individuals are in the period of their lives where they’re raising their children and need to provide for their families and need to start planning for their future. Franchising offers many lifestyle benefits for these individuals, such as increased flexibility in their work schedule and a better work-life balance – two things Generation X-ers greatly desire. This added benefit of becoming a franchisee rather than continuing to work in corporate America is ideal for Generation X.

Baby Boomers in Franchising
Similar to those individuals in Generation X, a large percentage of Baby Boomers aren’t confident in their ability to retire as they near retirement age. According to a recent Gallup poll, one in 10 Baby Boomers predicts that they will never retire and nearly 50 percent don’t expect to retire until they’re at least 66 years old. In fact, the average retirement age has steadily risen from the age of 57 to 61 over the past 20 years.

Not all of this is due to the stagnant and unpromising job market, especially for older individuals who corporate America commonly characterizes as being “old school.” Many Baby Boomers are willingly choosing to prolong their careers because they want to keep busy. A great option for an alternative second-act-career for Baby Boomers is entrepreneurship through franchising.

“A vast majority of today’s unemployed Baby Boomers are seasoned executives with severance packages who are now looking for new ways to invest in their future,” said The Entrepreneur’s Source ®Terry Powell. “The Baby Boomer generation [wants] a ‘second act’ career that offers independence as well as benefits and structure, which is often found in franchising.”

Contact a Coach at The Entrepreneur’s Source

Are you interested in franchise business ownership? Contact an alternative career coach today at The Entrepreneur’s Source®! E-Source coaches are trained professionals in helping their clients find the right franchise fit for them. For more information on how a coach can help guide you through your career contemplation process, contact a coach today: https://www.entrepreneurssource.com/blog/contact/.


The Entrepreneur’s Source Lisa Powell Memorial Endowed Scholarship Nears Funding Goal

Terry Powell, Visionary Founder of the Nation’s Leading Franchise Coaching Network, The Entrepreneur’s Source®. Created the Lisa Powell Memorial Endowed Scholarship to help female Sacred Heart University students dedicated to entrepreneurial studies.

In 2016, Sacred Heart University, a Connecticut-based private university committed to combining education for life with preparation for professional excellence, and The Entrepreneur’s Source®, the nation’s leading franchise coaching network, joined forces to endow a scholarship in the name of the late Lisa Powell, the daughter of The Entrepreneur’s Source® Visionary Founder,  Terry Powell, and former employee of The Entrepreneur’s Source®. Today, as we approach the June 30th, 2017 fundraising deadline, Sacred Heart University and The Entrepreneur’s Source® are proud to announce the  Lisa Powell Memorial Endowed Scholarship  is less than $10,000 from reaching its goal of $35,000.

According to Powell, the Lisa Powell Memorial Endowed Scholarship is intended to promote, empower, and financially benefit female business students who have a focus in entrepreneurship.   He says the scholarship has been created at the perfect time as more and more women are pursuing entrepreneurial dreams.

“It appears we are entering the golden age of women entrepreneurs,” says Powell. “According to business start-up activity in 2016, women now make up 40% of new entrepreneurs in the United States, the highest number in 20 years. Not only that, but in the last 5 years, the growth rate of women entrepreneurs worldwide has nearly tripled those of their male counterparts. We are hoping this scholarship will help inspire more young women to seize opportunities to dream, plan, and grow successful businesses here, and around the world.”

Sacred Heart University will award the first Lisa Powell Memorial Endowed Scholarship in the summer of 2018 to a rising female sophomore, enrolled in the Jack Welch College of Business, who has a 3.0 grade point average, and has declared entrepreneurship as their minor. This will be the first entrepreneur related scholarship in the history of the SHU.

Powell says he is proud to honor his daughter’s legacy through this scholarship and credits his colleague, Lori Tyll for the idea of creating a scholarship in her name.

“My daughter, Lisa, had a passion for supporting women interested in business, and specifically entrepreneurship,” says Powell. “The idea for the scholarship actually originated with Lori Tyll, the Vice-president of Operations for The Entrepreneur’s Source®. Her son was an alum of SHU, and her late husband enjoyed donating to the school. When she approached me about setting up the scholarship, as an enduring legacy to both Lisa and Lori’s husband, it was a very easy decision.”

Lisa Powell graduated from Northeastern University in 1993, with a degree in psychology. She had a successful career in healthcare marketing, and had re-joined her father’s company in 2009 as the Marketing Resource Manager. Lisa died in 2015, remembered by friends and colleagues as a dynamic leader, trusted mentor, and loyal friend.

If you wish to honor Lisa’s legacy by making a donation to the Lisa Powell Memorial Endowed Scholarship you can do so here .

For more information about Terry Powell and The Entrepreneur’s Source®, please visit http://www.entrepreneurssource.com/about_us.html.

About The Entrepreneur’s Source®  Established in 1984, The Entrepreneur’s Source® has been North America’s leading alternative career coaching franchise dedicated to the entrepreneur for more than 32 years. Today, with more than 144 offices in the United States and Canada, The Entrepreneur’s Source® continues to dominate the Franchise Coaching market in North America.

The Entrepreneur’s Source® network of franchise coaches offers a full range of services to individuals seeking alternate career options or investment strategies. For more information about The Entrepreneur’s Source®, please visit http://www.entrepreneurssource.com/about_us.html.

The Entrepreneur’s Source® is a trademark of TES Franchising, LLC. All rights reserved.


The Entrepreneur’s Source Digs Deep with College Students and Recent Graduates

The Entrepreneur’s Source ® Digs Deep with College Students and Recent Graduates – Is a College Degree the Key to Business and Career Success?

The caps and gowns have been turned in, the graduation parties are over, and now the serious business of finding a J-O-B is on for the graduating class of 2017.

Here’s the good news: according to placement services like Challenger, Gray, and Christmas, the employment outlook is pretty good for this year’s crop of graduates, due to an improving American economy. In fact, according to a job outlook survey by the National Association of Colleges and Employers, 98% of companies plan on hiring those who have earned a bachelor’s degree this year!

But let’s not get overly excited yet.

The Entrepreneur’s Source®, the nation’s number one resource for exploring alternative career options in franchising, wants to remind this year’s grads that just because you HAVE a degree doesn’t necessarily mean you will be HIRED IN YOUR FIELD OF STUDY. According to the Federal Reserve Bank of New York, almost 44% of recent college grads are working in jobs that don’t require degrees. The buzzy “Return on Investment” equations for a college education certainly take a hit when you’re earning $10 an hour in your first gig right out of school.

So, for those still in school, or considering starting (or returning) this summer or fall, you have to ask yourself: is the expense of college really worth it? Do you want to still be struggling paying off federal student loans years after you graduated? (Scarier still: paying off variable loan rates on some private student loans!)

Obviously, if you want to be a doctor, lawyer, or rocket scientist, you will need that degree, and several more. But what if your interests lie outside the ivy walls of State U? If you’re equipped with a terrific network, desire to work hard, and a well thought out (and proven) business plan vetted by mentors and resources you trust, do you really need a full general education? So maybe instead of rolling up big student loan debt, hoping your education will help you land a job, you could be taking out an SBA loan to fund your own business and not have to hope you can go to work for someone else, some day.

There’s also the experience factor. While many undergraduate and graduate students are spending 4 years (or more) learning how to perform job skills and/or run a business, there are others who are doing it as franchisees in real time.

Let’s be clear: there are a lot of positives about the college experience, socially and educationally, which are valuable. And there are some fundamental courses which a newbie business owner will need, like basic accounting skills. But the bottom line is this: a degree is NOT the key requirement to running a successful business. In fact, many of the skills you need for that just aren’t taught in some classrooms today. Skills such as work ethic, perseverance, vision, and persuasiveness, to name a few.

Of course, it’s rare to find successful employees or entrepreneurs who don’t have SOME college credits to their name, or even degrees. However, that’s not the case for our visionary founder, Terry Powell, and many other franchise coaches and franchisees who got their start in business ownership through The Entrepreneur’s Source®.   Passing on college comes with risks, but Powell and others weighed their options and decided that four more years actively pursuing business ownership was more valuable than spending money to attend school with no guarantee of a job or business ownership opportunity on the back end.

Are you a recent graduate struggling to find a satisfying career?   Or perhaps a current/incoming college student having second thoughts about the value of an undergraduate degree (and the associated pile of debt)?    Our coaches at The Entrepreneur’s Source® would love to speak with you and see if there’s anything they can do to help you make a smart decision – whether that be returning to college, pursuing a career or launching your very own franchise business.

Take the time to visit The Entrepreneur’s Source website and fill out the quick response form on the homepage to connect with one of our coaches.   Or, if you’re already prepared to begin exploring potential franchise opportunities, find your franchise match at www.franchisematch.com.


The Entrepreneur’s Source: Your 5-Step Plan for Conquering Career Frustrations

The Entrepreneur’s Source: Your 5-Step Plan for Conquering Career Frustrations.

Whether they’re big or small, we all suffer from career frustrations. However, you have to look at your options. Is there enough of an upside for you in your current career to tolerate staying with your job? Many people feel like they have no options and therefore have no choice.  You can either ignore your frustrations and risk becoming a victim of Battered Career Syndrome, or you can proactively try and work through your frustrations. For most people, the latter of the two options is the better solution to the problem, but working through your career frustrations isn’t always easy. Today, The Entrepreneur’s Source reviews five simple steps to help those suffering from Battered Career Syndrome break free from their career frustrations.


Step One.    Determine the root of the problem

Many individuals working in corporate America find themselves frustrated with their careers but never take the time to pinpoint just what is making them tick. Because of this, the first step on your journey of discovery is to take some time to get to the root of your frustration.

  • Do you feel as if you’re being overworked?
  • Do you travel too much?
  • Do you feel underappreciated by your boss?
  • Are you disengaged from your work?
  • Do you feel like you are working really hard and others get to capitalize on your efforts?

Establishing just what is making you unhappy at work is the only way you can work toward finding a solution to overcoming your frustration and thrive.


Step Two.    Identify the change that needs to be made

Now that you’re establishing just what the issue you’re having is, you can begin to identify how your feelings could change. For example, if you feel as if you’re disengaged from your work, then it’s time to brainstorm why that is.

  • Have your goals and priorities changed?
  • Has the job or management or the industry changed?
  • Is there hope for you to become reengaged?
  • Would speaking to your manager and vocalizing your frustrations help?

The only thing you have to lose at this point your happiness, your continued success and longevity at the organization depends on it. While brainstorming, maybe you’ll come up with a resolution or perhaps the conclusion will be that your current job has no more potential to satisfy your career and goals. Finding the solution to what can solve your frustrations will help you in determining your next steps.


Step Three.    Let your voice be heard

You most likely won’t benefit from keeping your career frustrations to yourself. Sometimes other people hold the power in whether or not you can ultimately make the change that’s needed to become satisfied in the workplace. Once you’ve identified the change you’d like to be seen made, go to your higher-up and bring up your frustration and your proposed change. Whether or not they get on board with the proposition is in their hands, but you’ll probably regret not asking and risking forever lamenting in your frustrations.


Step Four.    Make a change

Once your concerns and proposed changes have been heard, it’s time to come up with a plan of action. If your manager is on board with your suggested changes, you may be able to create a plan of action to set you up on the path to make the change.

In an ideal world, all of our bosses would agree with our concerns and proposed plans of action to reach career happiness. However, you do face the risk of having your higher-up not wanting to accept your proposition. If this is the case, then there are two routes you can take. You can either stay in your current position and continue to suffer from career frustrations, or can make a change to find an alternative career. And keep in mind, change is not always easy, but often well worth it. Giving up on a desired result in the short term is almost always easier than exploring options outside your current comfort zone that will ultimately give you what you say you want.


Step Five.    Seek outside help

Oftentimes, seeking out professional alternative career coaches to assist you in overcoming your career frustrations and finding an alternative path to success is a wonderful resource for those suffering from Battered Career Syndrome. Collaborating with a career coach can help you identify your frustrations to better determine what you’d like your future to look like.

Alternative career coaches at The Entrepreneur’s Source are trained in helping their clients identify their Goals, Needs and Expectations alongside their Income, Lifestyle, Wealth and Equity (I.L.W.E.) Goals so they can better envision what their ideal future would look like. A coach can be your best supporter, when doubt starts to creep in, they will help you put things in perspective and you’ll be empowered and gain confidence about your abilities and possibilities.

For more information about how a coach at The Entrepreneur’s Source franchise can help you overcome your career frustrations and find an alternative route to career happiness, contact a coach today https://www.entrepreneurssource.com/blog/contact/.