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2007 Franchise Trends Can Help Identify Business Opportunities

Southbury, CT - 3/6/2007 - For those searching for their entrepreneurial dream, the list of what's hot in franchising might be of interest. Published by the Entrepreneur Magazine, the list highlights a trend towards franchises that offer one-on-one services such as senior care and personal services, enrichment-learning programs for kids, business consulting and franchises involving food.

Franchising is typically a proven, turn-key approach to a successful business concept, says Terry Powell of Southbury, CT, career coach and franchise expert from The Entrepreneur's Source. "If you have a desire to open a business, investing in a franchise can be a smart decision. A franchisee benefits from a recognized brand, a network of other franchisees to turn to, as well as training and on-going support."

The number of franchise companies that offer business consulting and coaching services nearly doubled in recent years, according to Entrepreneur Magazine. The business-to-business (B2B) coaching and consulting industry is a multi-billion dollar market.

"Franchising can be rewarding and lucrative when you find the right business concept that meets your lifestyle, goals and needs," says Powell. "We work with a whole host of companies that offer very interesting business concepts for everyone." Demographics are driving the need for business consulting and coaching services as baby boomers and women look for entrepreurial opportunities. There are nearly 78 million people in the baby boomer generation, defined as being born between 1946 and 1964. According to a 2003 AARP study, 33 percent of workers between the ages of 51 and 69 became self-employed after the age of 50. Between 1997 and 2006, the number of women-owned businesses grew 42 percent according to the U.S. Census Bureau.

"The numbers tell part of the story," Powell said. "There are simply more people that are in the market looking to become entrepreneurs. But there has also been a generational shift in how workers look at their careers."

The days of retiring from a corporation after working there for 35 years are gone, Powell said. Today's workers are continuing to adjust their career goals and business coaches are in a unique position to help them understand, not only what types of opportunities exist, but what types of opportunities will match their personal needs for a rewarding career.

About The Entrepreneur's Source
The Entrepreneur's Source (TES) is North America's leading career and business coaching company with more than 250 offices in the United States and Canada. TES offers a full-range of services to individuals seeking alternate career options and to small-to-medium size companies looking to increase performance. The goal of the Entrepreneur's Source is to partner with both individuals and companies to achieve their desired outcome.

Sidebar
2007 Hot Franchise Trends, according to Entrepreneur Magazine

• Senior Care Services
• Personal Care Services
• Enhancement Learning Program for Kids
• Business Consulting and Staffing
• Food
• New and Unique Ideas

Click here for more information on the Entrepreneur's Source Franchise