I attended the Franchise Business Network (FBN) annual event in Denver last month. FBN is a very active regional program initiated by the International Franchise Association (IFA) that brings franchisors, franchisees and franchise vendors together to collaborate and share ideas and resources.

One of the main event topics was franchise business coaching. A panel of three experienced franchise coaches gave a detailed presentation on their respective coaching styles and gave case study examples. 

Executive-level coaching is becoming more common in the franchise industry due to a few realities that I featured in Franchise Bible 8th Edition, including the following:

Franchisors are starting a whole new business.

This is an important factor that many franchisors underestimate when they start out. Some believe that they can “try franchising” or add it on as a side business, which is a very bad idea. Franchising successfully takes a serious commitment and focus. I often tell my customers that going from a local unit operator to a franchisor, is like going from a landscaper to a lobster fisherman. In other words, it is a whole newbusiness.

You don’t know what you don’t know.

Most franchisors start out without a roadmap to follow. This leaves many searching for direction and resources. Unlike most other industries, franchising doesn’t have a trade school or college degree.

There is "Big League" competition.

Many new franchisors are surprised once they enter the competitive franchise marketplace. They go from marketing their local business to competing with large national if not global brands. These brands have huge advantages including consumer awareness and trust, large marketing budgets and experienced development teams, just to name a few. The good news is they all had to start out the same way and the innovative new franchisors can certainly win their fair share of the franchise buyers if they play their cards right.

Experienced franchise business coaches can help you overcome the challenges, navigate the waters and thrive. One of my clients said it best when he said, “I am already really good at what I do, but you make me even better.” Every great athlete hasExperienced franchise business coaches can help you overcome the challenges, navigate the waters and thrive. One of my clients said it best when he said, “I am already really good at what I do, but you make me even better.” Every great athlete has a great coach, so don’t be afraid to find yours.