Interested in starting your own entrepreneurial journey in business development but unsure what to expect? Then read up on our interview with Tim Parmeter, Founder, and CEO of FranCoach, located in Pima, AZ, USA.

What's your business, and who are your customers?

FranCoach is a full-service franchise consulting company. What does that mean? Well, we work with individuals who are interested in potentially working for themselves but don't know how to make that a reality. FranCoach has two main goals: the first is to simply educate our clients on franchise ownership so they can determine IF franchise Ownership is right for them. If it is, goal number 2 is to help match our clients with the franchise that is the best fit for them. We are partnered with over 500 franchises in nearly 60 industries to ensure we can always find the best match.

Perhaps the biggest reason our clients choose to work with us is that finding the best franchise to own is totally different than anything else we search for. Unlike the corporate world, franchisors are not looking for candidates with industry experience, as franchise owners are rarely the doers. As an example, you could be the biggest slob on the planet and own a cleaning franchise. The cleaning franchisor is not looking for an owner to be the cleaner - they are looking for a person to own and run the business. This means that pretty much every franchise out there could be a potential match. This is a huge positive as it opens up so many possibilities, but also a huge source of confusion in that how does someone with no knowledge of what the franchisors are looking for find the best one?

FranCoach’s relationship with our franchise partners allows us to see behind their curtain to know exactly what each franchisor is all about and looking for in an owner. To further complicate the search for someone trying to do it themselves, you can have two franchisors that look the same to the consumer whether they are making cheeseburgers or washing windows, those franchisors can actually be vastly different behind the scenes on what they are looking for in an owner and how they support their franchisees. These differences are not things that can be googled but are part of the knowledge we have with our franchise partners. Perhaps the best part, all of the services FranCoach provides are 100% complimentary to our clients.

Tell us about yourself

I started this business out of necessity, actually. I had been working in the corporate world, and like so many of our clients, I found myself in a job search, due to no fault of my own. I also had a small child with whom I was about to be co-parenting, so I wanted as much flexibility as possible. I had always wanted to work for myself and just needed a gentle nudge to get me there.

What's your biggest accomplishment as a business owner?

That after 7+ years, FranCoach is not only still in existence but has grown in several ways. We started a highly successful podcast in 2020 called Franchising 101 that has helped FranCoach become a thought-leader in the franchising industry. Our team has grown as well, which means I can not only help our clients achieve their goal of working for themselves, but we have also helped our team do the same.

What's one of the hardest things that come with being a business owner?

Only one? Just getting started is the obvious answer. Being a business owner can be a scary proposition, no matter how badly one wants it or how talented they are. I think the other piece that I would share is this...life at the top is very different and, at times, very lonely. When you are working in the corporate world, no matter how high up you are, you are not the ultimate and final decision-maker. It is easy to be the armchair quarterback when things don't go well, and it is easy to think of how much better the business would run if YOU were in charge. Once you ARE in charge, you quickly realize that everything in the business, everything, is reliant on you no matter how big your team is. It is intoxicating, at times, to have that level of control. But at times, especially when things go wrong, it can be overwhelming.

What are the top tips you'd give to anyone looking to start, run and grow a business today?

  1. Just do it. That is such a cool phrase. I feel like I should trademark it or something. But really, if you want to have your own business, stop overanalyzing or second-guessing yourself and take the leap.
  2. Don't listen to others who are not business owners. They will look at you with a certain level of jealousy and, oftentimes, trying to pull you back into their corporate misery.
  3. Make connections with other business owners. It does not matter what industry. You are now in a whole different world and having connections with others going through the same journey as you can act essentially as a support group.

Is there anything else you'd like to share?

If you really want to have your own business and are ready to take the leap but don't know exactly what the business should be, then I would encourage you to contact our team at FranCoach. We work with people every day in this exact situation and our process will help you determine what your business should be. At the very least, check out the Franchising 101 Podcast to learn more about becoming a business owner.

Where can people find you and your business?

Website: https://www.francoach.net/
Facebook: https://www.facebook.com/francoach4u
Instagram: https://www.instagram.com/yourfrancoach/
Twitter: https://twitter.com/FranCoach4U
LinkedIn: https://www.linkedin.com/company/francoach4u/

If you like what you've read here and have your own story as a solopreneur that you'd like to share, then email community@subkit.com; we'd love to feature your journey on these pages.

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