Business Coaching Franchise Myth #2: Franchisees Get Support From Franchisors
Welcome to our SECOND post in the series on Business Coaching Franchise myths. You can read the first one HERE.
Last time, I suggested that you evaluate the track record of the franchisees in the business coaching franchise system you’re investigating, using Section 2, Chapter 3 in the Business Coaching Franchise Buyer’s Guide, as well as the third “checkbox” in your Business Coaching Franchise Buyer’s Due Diligence Checklist.
Also, I suggested that you purchase Robert Purvin’s Book, The Franchise Fraud, from Amazon. As a reminder, Robert Purvin is the Chairman of the American Association of Franchisees and Dealers (AAFD), a not-for-profit organization dedicated to promoting fair and ethical franchising practices. Prior to being named Chair of AAFD, he practiced franchise law for 24 years is recognized throughout the industry for his skills in dispute resolution and mediation.
Today, I’d like to share with you the SECOND myth Purvin covers in his book — and then we’ll move into some business coaching franchise due diligence recommendations.
Business Coaching Franchise Myth #2
Business Coaching Franchisees Are in Business for Themselves, But Supported by Their Franchisors.
The truth is, if you decide to purchase a business coaching franchise, you can usually expect to adhere strictly to the franchisor’s operating system…with little or NO actual support from the franchisor!
Fact: it costs the business coaching franchisor alot of money to pay for field support for franchisees and so most of them cut costs wherever they can, leaving you on your own. UNLESS you start breaking the rules.
Most franchise agreements are written to protect the franchisor, NOT you. They typically contain lots of language that restricts what you can and cannot do with your business. Many frustrated business coaching franchisees have discovered that they actually have LESS control over their own operation and destiny than most employees do…with fewer avenues for recourse in the event that things get ugly with the business coaching franchise relationship.
And yet, during the sales process, many business coaching franchise companies will try to sell you on the idea that you’re buying into a “protective relationship” through the franchisor. Watch out: once you end up in court, they’ll probably argue the exact opposite — that they are merely sellers of a services and owe you NO special duties of care or support, appealing to their franchise agreements as evidence of this.
Protect yourself BEFORE you enter into a business coaching franchise agreement by reading the fine print carefully! As a business coach, you don’t want to wind up in a bad situation where you’re expected to perform in the market without any help or support while paying a massive franchise fee each month.
To continue your due diligence on the business coaching franchise opportunity you have in mind, I suggest the following activities:
Business Coaching Franchise Due Diligence
ACTIVITY #1 — Complete the sixth “checkbox” in your Business Coaching Franchise Buyer’s Due Diligence Checklist: a) interview at least 10 franchisees; b) determine whether or not you’ll have the support you believe you’ll need to succeed after you’ve signed your franchise agreement.
ACTIVITY #2 — As part of your due diligence, consider taking a look inside the Coaches’ Coach System. A quick look “behind the curtain” of our members-only site will give you a chance to review our materials, listen to our audio training materials, even test out some of our marketing pieces or sales scripts and start generating leads immediately. It’s a nice way to get your feet wet before you even pull the trigger on your business coaching career. Get details on the Coaches’ Coach System HERE.
ACTIVITY #3 — Get 30 days of FREE Cash and Clients Strategy Sessions with one of our certified Coaches’ Coaches. Click HERE to schedule. We’ll invest in you by covering the cost for you to have 4, totally FREE 30-minute sessions during which you get all your questions about business coaching franchise opportunities answered in a safe, no-nonsense environment. Feel free to share any information you’ve received from prospective franchisors to get a “second opinion,” or simply explore with us alternative ways to get into business coaching WITHOUT the ongoing expense and obligation of a franchise. This is perhaps the most important assignment you will complete. So even if you’re running a bit behind on your other assignments, don’t hesitate or wait to catch up. Schedule it HERE.
To your success,
P.S. As an alternative to buying a business coaching franchise, consider enrolling in a FREE 30 Day Trial of the Coaches’ Coach members only site! It’s our complete business coaching system, including customizable marketing campaigns, sales scripts, client training materials, business optimization modules, and more. Now, you can get a FREE 30-day trial. One of our clients recently closed $1,500 in recurring monthly revenue after just 3 days with our system…think what that could mean for YOUR business!