E-Tips, Franchise Opportunities

The Entrepreneur’s Source Franchise Friday – 3 Ways to Explore Franchising Using Social Media

The Entrepreneur’s Source Franchise Friday – 3 Ways to Explore Franchising with Social Media

Last week on Franchise Friday, host Marissa Ruderman was joined by The Entrepreneur’s Source Area Developer and Career Coach Mark Myette to discuss how aspiring entrepreneurs can use social media to explore franchise opportunities.

About Our GuestMark Myette

Mark Myette began his business career in 1983 and spent 24 plus years working within Fortune 500 companies. Now, as an Area Developer and Self-Employment Coach for The Entrepreneur’s Source in Atlanta, Mark does what he is most passionate about: being an adviser, connector, influencer and teacher.

Mark earned his undergraduate degree from Boston University and holds an MBA from Emory’s Goizueta School of Business. He is also a Certified Professional in Learning & Performance from ATD. Mark also enjoys running marathons—he has completed a total of 11 so far!

Social media has become one of the driving forces behind aspiring entrepreneurs’ research in business opportunities, so Mark has outlined three ways you can utilize multiple platforms to help uncover information about the franchise industry.

3 Ways to Explore a Franchise Opportunity using Social Media

1.    Consult your Circle of Influence

In the days before Google and social media, the first place you went to find information was family, friends, neighbors and colleagues. Even in today’s digital age, people have a tendency to use these contacts, or circle of influence, as a resource for information, trends and news.

The difference in consulting your circle of influence today is that you can see what your friends, family, co-workers, colleagues and associates are reading, viewing, sharing and talking about all from the comfort of your computer just by scrolling through social media.

When someone you follow likes a Facebook page, a blog post, a white paper or an infographic, it’s essentially seen as a referral. This content appears in your feed, and has an almost “grass roots” effect within your social circle.

Apply this rule of thought to investigating business investment options by starting your franchise within your own circle of influence. Ask for references and find new ideas by taking social media a step further and utilizing social media channels as a way to investigate a brand or concept.

Is there positive reinforcement or do people share positive experiences about that brand? By the same token, have many people shared a less than favorable reaction or experience with the company? The social engagement a franchise brand has with their not only their franchisees, but their customers as well, is often a good place to start when researching a brand using social media.

2.    Join the Entrepreneur Conversation

Depending on which social media channels or outlets you have built a presence on, beginning to engage with an industry or interest related discussion group can be a great way to learn more about a franchise business opportunity.

For example, there are thousands of LinkedIn groups, including those that specialize in entrepreneurship, small business ownership and even franchising. Chances are there’s a LinkedIn group covering a topic that resonates with your franchise search, whether it’s quick-service restaurants, home-based franchises or B2B services.

Simply start by typing in a keyword or phrase related to your specific interest into the LinkedIn search bar, and search under the “Groups” option. Join a few different groups related to industries and franchise investments you’re interested in to receive more informational content and advice from industry experts, thought leaders and likeminded individuals.

Another tool to keep tabs on the entrepreneurial conversation is Google Alerts. Say you’re interested in investigating home-based franchise opportunities; you can setup a Google Alert to keep you updated on specific keywords or phrases, like “home-based franchises,” or broader terms like “investing a franchise” and Google will alert you when new content is posted online.

You will begin to receive notifications via email with links to articles, blog posts, radio programs and other resources that have been made public on the Internet. You can receive updates weekly, daily, or as-they-happen, bringing the information straight to your inbox.

3.    Connect with a Coach

LinkedIn is a powerful channel from the standpoint of networking professionally. You don’t have to wait until you know someone to begin a professional conversation. If you find yourself reading an informative article from a LinkedIn member posted in a group you joined, message them and ask to have a brief discussion to learn more.

I personally have received a number of LinkedIn invitations from those involved in franchising industry groups, hoping to learn more about how to find a franchise business opportunity. I will not only accept the invitation, but I will message that individual with an invitation to have a follow-up conversation to learn about them, what they do and what they’re hoping to accomplish.

I educate them about the services The Entrepreneur’s Source provides, like a free discovery experience, to help them figure out if business ownership is something that would make sense for them. Social media, whether it’s through LinkedIn or some other avenue, can be a great environment to have a no pressure, informative conversation with an industry expert. If the individual has established a degree of credibility and is known as a resource, the only investment you make is the time you take to learn about those opportunities.

Join Franchise Friday

Listen to the full episode of Mark’s Franchise Friday Show or find out more about working with an Entrepreneur’s Source Self-Employment Coach at www.entrepreneurssource.com

Catch Franchise Friday every week at 10 AM or now available on iTunes! Follow us on Twitter @FranFridayShow and use #FranchiseFriday to join in the conversation!

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