Coleman helps corporate executives and outplaced workers transition into franchising
Chris Phillips can’t imagine working for someone else ever again. The former banker now runs a personal electronics repair business in St. Louis, and it was FranNet consultant Chris Coleman who helped make it possible.
In a segment shown recently on KPLR-TV in St. Louis, Phillips showed off his new business, CPR, which stands for Cell Phone Repair.
Phillips met Chris Coleman through word-of-mouth after Coleman sponsored a “Meet the Franchisor” event that allowed entrepreneurs to meet and mingle with a variety of franchise executives.
Coleman talked with Phillips about what he hoped to accomplish, personally and professionally, as a small business owner — then Coleman started to do some research to find the perfect fit.
“I guess you could say we are like eHarmony, but for business,” Coleman says.
There is a lot of information available about different franchises — an overwhelming amount of information, Coleman says. A lot of people get intimidated, and give up. Coleman prides himself in guiding people through the thicket.
“It’s nice to see someone come in confused on which direction or confused what the right opportunity is for them,” Coleman said. “To be able to point them in the direction that will help them achieve their goals is extremely rewarding.”
And you don’t need to be a former regional bank manager like Phillips to buy into a franchise. There are a wide range of opportunities, even for people with modest assets to invest.
“Most people, when they think of a franchise, they think of McDonald’s, Subway, something like that,” Coleman says. “But there’s been a pretty good shift in demand for franchise businesses that are very low investment and service-based. Maybe something you can run out of your own home. Fewer employees. Let’s just call it more simplified business models.”
Franchises are a great option for entrepreneurs, since “the advantage is that it’s already been done before,” Coleman says. “There are blueprints, or a road map – a strategy that’s in place that you follow versus going out and starting on your own, from scratch.”
The still teetering economy has left a lot of people at a point of transition, Coleman says, with many people either unemployed or underemployed. A franchise allows new owners to create a new career for themselves – and for others. The International Franchise Association expects 14,000 franchises to open this year, creating 168,000 jobs.
FranNet does an excellent job of matching people up with franchises where they are likely to become top performers. What’s more, FranNet’s advice to you is completely free. Thinking about changing careers? For more information about FranNet, or to speak to a consultant near you, visit www.frannet.com.