A question that comes up often during my initial conversation with clients is the comparison between being a career ownership coach and a franchise broker.
In this post I will break down the differences in an honest comparison between the two.
Franchise Brokers
There are a lot of different franchise brokers that all have their unique propositions. For the matter of this discussion, we will discuss the most common characteristics.
Most brokers work with clients who know what type of business they want and are ready to make an investment today. These clients are what are called, Ready Willing and Able. Someone who is ready willing and able, means they have the financial resources to make the purchase, they know that they want a franchise business. These clients are usually successful businesspeople looking for another opportunity or investors looking for the next place to make their money grow.
When you look at the website of a franchise broker, you will see that they list the minimum investment right up front. This is fantastic for the person who is Ready, Willing and Able to move forward. By seeing the initial investment up front, the client can qualify the opportunities by the resources they have available.
The purpose for the broker is to sell a franchise that fits the needs of the client regardless of the career path they are on. The process to purchase from a broker is relatively quick decision on how the client plans on investing in the business.
Career Ownership Coach
The big difference between a career ownership coach and broker is that a coach does note sell franchises. Instead, we work with people who are Not Ready Willing and Abel to buy anything. Our purpose is to take the client on a journey of discovery using education and awareness to help them determine the next step in their career.
We take time to understand what the client has been through in their career. We help the client look at what making no change will be like in one year and the next five years. We discuss what making a change in career options through a new job would look like. We also explore opportunities being an entrepreneur, whether that is starting their own business or purchasing a franchise. We celebrate when the client comes to a point of clarity about their career and next steps. Regardless of the outcome, we celebrate with the clients when the realize what their future will be like. More info
What about franchises?
Franchises are one of the opportunities we explore with clients. If a client decides that striving for self-sufficiency and business ownership is for them, we discuss franchise opportunities. We put our clients in touch with the right opportunities for them and let the franchises and clients discuss the terms, benefits and operation requirements. As a coach we continue to coach and listen to clients as they go through the business purchase process.
If a client comes to us and already knows they want to buy a franchise. Most of the time they do not want to go through the discovery process. We will refer them to a broker instead of going on the journey with them. Someone who is Ready, Willing and Able does not need the discovery process and we will only frustrate them in their pursuit of business ownership.
Ongoing support
We also offer ongoing support regardless of the path our clients choose. We will touch base over time to make sure our clients are doing well and that they are still working hard to achieve their goals. We tend to build relationships that last because of our unique journey we offer client.
Franchise brokers and Career Ownership Coach have their place in the business world. It really depends on the desires and direction the client wants to take. I hope this helps you in your research of your next career step.