Peer Network: A Valuable Benefit of Franchising
There are many benefits to becoming a business owner by investing in an established franchise. Along with an established name, you’re buying the background and built-in brand recognition of the business, larger-scale marketing efforts, operational support, and their relationships with vendors, media contacts, and more.
One of the most underestimated and under-recognized aspects of franchise ownership, however, is the support that comes from peers within the system. The collective knowledge of this existing network is a powerful resource for new business owners to tap into. While a new franchise owner will often rely on the built-in support of the franchisor, over time it is the support of the peer network that becomes invaluable.
Founded on the concept that group coaching allows coaches to better leverage their time and build their business, The Growth Coach simultaneously benefits franchise owners and the business clients and entrepreneurs they serve. This unique business ownership opportunity offers entrepreneurs lower startup costs, comprehensive training, high-impact marketing assistance, and ongoing support provided by a team of experts as well as a network of like-minded franchise owners and past business leaders.
Peer support can take place in many different forms. Sometimes this networking comes in the form of an annual conference to bring franchise owners together to exchange ideas, but oftentimes it is the more informal networking that is most valuable. This continuous peer collaboration is how franchise systems grow and evolve. Over time, the franchisor can see what works for others and then implement those changes and try to improve the collective system.
The Growth Coach provides its franchise owners access to a powerful team of culture experts, marketing support staff, and - most importantly - other coaches to help you when you need it. It offers group programs that mirror the coaching programs used for clients, including Coaching Circles, Motivational Mondays, and Marketing Masteries, as well as one-on-one mentoring from experienced franchise owners like Brad Schneider, a Growth Coach business owner for more than six years.
This support from a wider network of people striving to reach the same goals helps franchise owners individually while strengthening the entire franchise system. Since competitive independent business owners don’t readily share information on how they operate their business, independent business owners must figure out processes and best practices on their own. Franchise owners, however, can turn to other owners who are running an identical business and because most franchise systems have exclusive territories, there is no disadvantage for owners to help each other.
The business coaching industry is worth $11.6 billion in the U.S., and The Growth Coach provides a vital service for the more than 28 million small and medium-sized U.S. businesses seeking the counsel, team-building tools, and leadership skills of experienced executives.
Are you ready to join Entrepreneur’s #1 ranked Business Coaching Franchise? Owning a Growth Coach franchise has never been easier and you can be up and running in just a few months. Check out our 8 Steps to Owning a Growth Coach Franchise, and contact us to get started.