The Entrepreneur’s Source3 WAYS TO USE SOCIAL MEDIA WHEN TO RESEARCH FRANCHISE OPPORTUNITIES

Social Media at a Glance Social media has officially taken over and is now an integral part of the researching process.

According to the Pew Research Center 74 percent of individuals who have access to the Internet reportedly use social media sites

◦ 71 percent of online adults use Facebook◦ 23 percent online adults use Twitter◦ 28 percent of online adults use LinkedIn

Social Media for Entrepreneurs Capitalizing on social media platforms can have profound benefits, especially for prospective entrepreneurs.

For aspiring franchise owners, social media can be used as a tool to explore potential franchise opportunities.

3 Ways to Utilize Social Networks in Franchise Research

1. Turn to your Social Circle2. Connect with a Coach3. Cut through the Clutter

1. Turn to your Social Circle

An entrepreneur’s first stop in researching a brand should be consulting with their friends, family, neighbors, colleagues etc.

When browsing social media websites, take a look at what these individuals are reading, viewing, sharing and discussing.

1. Turn to your Social Circle (Cont.)

A “like” or “follow” of a brand by an individual in your social network serves as a virtual referral.

A “share” of a news story related to a specific brand on social media can give entrepreneurs inside access to trends in the industry and consumer behavior. ◦ These shares, likes and follows can be telling of whether or not you

should explore that franchise opportunity further.

2. Connect with a Coach Many franchise coaches and professionals are enthusiastic about connecting and conversing with aspiring entrepreneurs without previously having met in person.

Mark Myette, business coach at The Entrepreneur’s Source, said that he has received a wide number of LinkedIn invitations from individuals looking to learn about franchise opportunities.

2. Connect with a Coach (Cont.)

“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,” Myette said. “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.”

3. Cut through the Clutter

Ask your social media network how they feel about a specific brand.

Probing for a reference or opinion can help you to further investigate a brand or franchise concept.

This can allow entrepreneurs to break through the marketing and advertising of the brand and dig deeper to gauge if they customers have had favorable reactions or experiences with the company.

3. Cut through the Clutter (Cont.)

Prospective entrepreneurs should expose themselves to industry discussions.

LinkedIn has thousands of existing groups dedicated to specific topics, such as entrepreneurship, business ownership and franchising.

Joining these groups and discussions can give entrepreneurs access to insider information in the industry and inform them of industry news and trends.

Contact a Coach Today! For more information about how social media can enhance your franchise investigation method or on how a coach at The Entrepreneur’s Source can guide you through this process, visit our website today:

http://www.entrepreneurssource.com/.