December 15, 2008 // Franchising.com // The recent alliance between business success coaching firm E-Myth Worldwide® and The Entrepreneur's Souce, the top name in the franchise coaching world, creates a power package for entrepreneur's in tough economic times. These two companies with a combined 60 years experience serving the entrepreneurially minded are blending their unique expertise to offer franchise business owners (and those aspiring to be one) an unprecedented set of franchising business coaching services - all geared to transform the state of franchising and small business ownership.
The timing couldn't be better for these two companies to reach out to positively impact the franchise business owner's bottom line. As the current financial storm trickles down to all levels of the economy, including the small business owner, the franchise industry continues to show signs of growth. A recent survey from the International Franchise Association (IFA) indicates that franchise growth has outpaced the U.S. economy by over 500 percent last year, with franchises of the type surveyed posting sales growth of 8.9 percent. Overall, the franchise industry represents $2.3 trillion in economic output. Included in the figure is the indirect impact of the industry or the franchised businesses purchases of products and services and support of non-franchised businesses. When measuring the direct and indirect impact of the franchise industry, franchised businesses are the cause of nearly 21 million jobs, or 15.3 percent of all U.S. private-sector jobs.
In today's New Career Economy®, individual's job security and financial freedom is being threatened by company downsizing, lengthy layoffs, and the elimination of benefits, enormous corporate bankruptcies and colossal consumer debt. The traditional job market no longer offers the security individuals and families need to live well. Taking control of their lives through becoming self-sufficient is now the new way to reach the America dream of living with long-term financial freedom.
The good news is that many people, especially the corporately-trained individual, possess many transferable skills that will allow them to succeed as franchise entrepreneurs. The jointly-develped programs of E-Myth Worldwide and The Entrepreneur's Souce are designed to ensure that success.
Today, when franchise business owners are more challenged than ever to weather the growing economic turmoil, the E-Myth Worldwide and The Entrepreneur's Source partnership brings decades of experience to business owners seeking creative ways to keep their business afloat. Harnessing the strengths of their own brands, The E-Myth/Entrepreneur's Source alliance brings a sophisticated set of E-learning programs to both the prospective and the more seasoned franchise operator. Co-branded products, AIM™ for Success and Franchise Accelerated Success Training (FAST)™, were jointly developed and adapted from E-Myth's award-winning distance learning programs and E-Source's exclusive Franchise Business Coaching success methodology. The co-branded products and programs mark the first time these highly regarded and proven business-development principles have been incorporated into a curriculum designed for the aspiring and existing franchise owners.
E-Myth Worldwide and The Entrepreneur's Source are part of a multi-billion dollar industry which is growing at an annual rate of 40 percent nationally. With the growth of small businesses and franchises on the rise, entrepreneurs are turning more and more to outside coaching for rapid impact strategies and a quick return on investment. This partnership, and the proven business success tools developed solely for the franchise industry, offers entrepreneurs in franchise businesses a solid foundation to thrive during these uncertain economic times.
E-Myth Worldwide is the pioneer and leading innovator of modern-day small business coaching, helping to improve the lives of millions of small business owners, worldwide, for more than 30 years. Made famous by the bestselling book, The E-Myth Revisited: Why Most Small Businesses Don't Work and What to Do About It by E-Myth founder and small business guru, Michael Gerber, E-Myth's coaching and training programs provide entrepreneurs with the growth strategies and skills necessary to build predictable, sustainable and successful businesses.
The Entrepreneur's Source, led by the founder of the franchise business coaching profession, Terry Powell, was founded in 1984 and has now become the nation's premier business coaching firm servicing the franchise industry. CEO Terry Powell's career has focused on the advancement of the entrepreneur and those who desire to become one. Powell is now a multi-brand franchisor with the acquisition of two more national coaching brands, AdviCoach and Business Partner Marketing Coach and the launch FranchisEsource Brands International (FSBI), a multi-brand franchisor principally engaged in growing solid concepts into major international franchise brands. The Entrepreneur's Source franchise business coaches have placed tens of thousands of people in businesses and franchises over the past 25 years, representing over $500 million in client investment dollars in just the past few years alone.