It's no secret that the father's career path is no longer being repeated by the son (or daughter). Nor was it so long ago that folks graduated from college, signed on with a company, and spent the next 40 years toiling in the same office.
The business model in the U.S. has changed dramatically. Management styles have changed, and the desires and demands of the workforce have changed. For some in the 21st century, the corporate life has little to offer; for others, a growing desire to take charge and "do-it-themselves" has emerged.
Typical wage earners today can expect to have anywhere from six to eight job changes within a chosen profession in a working lifetime; and many are switching careers in their 30s, 40s, and 50s. What's more, traditional employment options have become unreliable for providing a secure future, with studies now suggesting individuals may have to provide up to 50 percent of the income they'll need during their retirement years.
"We're at a tipping point in the American job economy," says Terry Powell, founder and CEO of The Entrepreneur's Source, a franchise and business consulting firm for individuals seeking new directions. "The traditional job market no longer offers the security individuals and families need to live well," he says. "Taking control of their lives through becoming self-sufficient is now the new way to reach the American dream of living with long-term financial freedom."
And of course, that desire to take control and that entrepreneurial spirit are well-suited for the franchising industry. But for those interested in pursuing a more "self-sufficient" route, sorting through hundreds of opportunities and making a wise choice can be difficult and time-consuming. And that's why companies such as The Entrepreneur's Source, FranNet, and FranMogul are in business to help coach people through the process.
These companies assist prospective business owners by providing step-by-step processes of evaluation, coaching, and education. They typically work with dozens of franchise companies, so they know what these franchises are looking for in terms of operators and operating styles--and they know the characteristics of successful operators within these systems.
These franchise consultants work with prospects to help them identify their true goals, objectives, desires, strengths, and weaknesses. They can explain, in depth, the pros and cons of operating a franchise, explain the varying models, opportunities and requirements, and help prospects identify where they would be most successful.
When these companies do their job right, everybody wins--the potential franchisee, the franchisor, and the buyer assistance company.
"After spending 26 years in corporate America and facing another restructuring, I made a decision to get into my own business," says Robert Plenderleith, a Huntington Learning Center franchisee in Wyomissing, Penn., who used The Entrepreneur's Source in making his decision. "I had an opportunity to do something positive for kids and make some money," he says. "I now have created my own financial security, through running my own business and reaping the many rewards from my own decision-making."
Just one of many success stories brought about by buyer assistance companies.
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