During what many consider to be the Golden Age of Entrepreneurism, the franchise industry has never been more robust or ripe with opportunity. Representing nearly 40 percent of all U.S. businesses, the $2.2 trillion industry is outdistancing nearly all other business sectors.
FranchiseProfs.com is the world's first social media network focused solely on this growing industry.
The innumerable options and potential risks in the growing world of franchising can also make for a confusing and sometimes misleading entanglement of information- factors contributing to the industry's five-year survival rate (of new franchise concepts) of only 30 percent.
These and other industry challenges were much of what inspired an eight-member Cincinnati-based team of franchise professionals and business experts to launch FranchiseProfs.com, the world's first social media network focused solely on the franchise industry.
Chris Nolan, President and founder of the pioneering website, explains the inherent allure and the potential pitfalls of franchising: "The industry offers a business model that allows people to go into business for themselves, but not by themselves," an understandable enticement for those tired of "working for the man" and eager to start their own business with the assistance and assurance of a proven trademark.
Yet Nolan, a 25-year veteran of the industry, concedes that "even though most franchisors bend over backwards to ensure the success of their franchisees, there are some you never hear from again after the sale."
FranchiseProfs.com is determined to change that, says Nolan, by providing "an unbiased, objective online resource where current and prospective franchisees and franchisors can connect, share information and learn from one another and other industry experts."
FranchiseProfs.com also offers a wealth of tools and other valuable resources to further ensure the success of their online community members, including education and financing resources, Human Resource and operations support, and marketing and lead generation opportunities to assist entrepreneurs in finding the right franchise concept.
"Combining this knowledge and expertise with the benefits of social media," says Nolan, "and you have the go-to resource for everything franchising."
With monthly readership anticipated to grow to more than 300,000 by March 2011, and plans to host a Cincinnati summit of C-level franchise executives in 2012, FranchiseProfs.com is already gaining worldwide attention, while making its mark in an industry that encapsulates the "American Dream".
Writer: Alyce Vilines
Source: Chris Nolan, President and Founder- Franchise Professionals, Inc.