The Entrepreneur’s Source on Why You Should Keep an Open Mind in your Franchise Search
It’s hard to be completely objective when searching for franchise opportunities, but when going into your franchise search its vital to helping you find the right opportunity for you. It’s our basic instinct to stick to what we know and to fear the unknown, but doing so may not always benefit you. Today, The Entrepreneur’s Source franchise evaluates why aspiring franchisees should keep an open mind when going into their franchise search.
Don’t Limit Your Franchise Search
There are many ways that prospective entrepreneurs may limit their franchise searches from the beginning without even being aware that they are doing so.
One of the most common blunders that alternative career coaches at The Entrepreneur’s Source find their clients doing is limiting their franchise search from the get go. A limited view of the possibilities can cause an individual to invest in a franchise mismatch, which may set the franchisee up for failure from the start.
For example, if you go into your franchise search thinking “I am only going to look into the QSR and salon segments,” then you may actually miss the perfect franchising opportunity for you. In fact, E-Source coaches find that 95 percent of their clients end up discovering and investing in a business prospect they may not have considered beforehand or admittedly had prematurely dismissed.
Similarly, many people go into their search thinking that they should only invest in concepts they are familiar with or have past experience in, but this actually falls into one of the top 5 franchising myths. Believe it or not, but businesses that are built upon a business owner’s past knowledge and expertise have the highest incidence of failure. Past experience oftentimes leads business owners to overthink their decisions and look at each of their decisions from a microscopic lens, failing to see the bigger picture and leading to bad decision making.
How a Coach Can Lift Your Limiting Beliefs
There are thousands of franchise systems out there, so it’s natural to feel overwhelmed at first. How is someone to sift through all of these franchise concepts to find the right fit for them? That’s where an alternative career coach at The Entrepreneur’s Source can help. E-Source coaches are experts in the field of franchising and know the ins and outs of the industry.
Coaches will guide their clients through The Discovery Process, which is aimed at helping individuals define their goals, needs and expectations while also educating them on the franchise industry. This oftentimes proves to be an empowering experience for aspiring entrepreneurs because they learn not to jump to conclusions based on their previous perceptions of a business. Together, a coach and a client will uncover the client’s Possibilities, Options and Dreams (POD), and with collaboration will find the right franchise fit. Even if the opportunity isn’t what the individual may have previously considered, E-Source coaches will help explain the factors that make the optimal opportunities at hand better for that candidate than the rest.
Contact a Coach at The Entrepreneur’s Source Today!
For more information about how a coach at The Entrepreneur’s Source franchise can help you lift your limiting beliefs, contact a coach today.