What is a Franchise Research Cohort?
The short answer is: A shared study group of up to 10 people (or couples) who will learn about franchise ownership concepts while digging into goals, financial needs, and work/life preferences.
Have you ever paid to attend a certification prep class? I have. We learned from each other’s questions and observations. Some people were more vocal than others, but everyone benefitted from the shared study. Shortly after passing the PMP exam and earning the PMP certification (a standard in the project management industry), I started teaching sections of the PMP Prep curriculum in the next scheduled series. I ultimately led the PMP prep activities for my local project management membership chapter, helping hundreds prepare for that exam across the next 4 to 5 years.
Now we will use the same principles to execute a Cohort for Business Ownership Research. We may find Franchise is not the right fit for some (or just not right now). In other cases, we might find that a more independent business ownership model is best. In all of these cases, we will use objective questions and discussions to arrive at a progression of decision points. Collaboration in a Cohort is a fantastic way for Franchise candidates to receive encouragement and to make helpful connections.
Franchise Research is a project. It has a start, an end, and a result: Clarity about what to do (and when). In many cases, a franchise research project can last 3 months depending on the availability of the Candidate and how much time they have for research “homework” they must do. If you know someone who needs this franchise cohort, share this Blog link or the Google Docs Flyer/PDF link to them.
How the Cohort will be Organized
First Five Weeks – During this time, our conversations in the cohort will support their assessing goals, financial needs, and work/life preferences. Participants will receive materials that will prepare them for conversation with funding experts. Whenever needed, private meetings will be had to cover sensitive topics. Each participant can elect to go thru Matching, if they so choose. For Matching to take place, the participant must commit to interviewing with at least three (3) franchise brands and to validate with at least two (2).
Matching Week – After the 5th shared week, private sessions will be held to review a short list to brands selected for each person. Each brand will be based on the funding limits gathered and the complete assessment information gathered for each person.
Seventh Week Onward – Once the Franchise Candidate starts interviewing with brands, we will resume the weekly online calls so that everyone can learn from each other’s interview experiences. A franchise candidate is responsible for his or her own due diligence. Neither the brand or the franchise consultant can make financial claims. Like in the earlier weeks, when private meetings are needed, they can easily be scheduled. It is normal for brand interviews and validation to take at least 6 weeks.
Cohort Success will be achieved when all the participants avoid as much spam as possible, learn information that guides them to asking more strategic questions, and have Clarity about what they are (or are not) supposed to do on their path toward entrepreneurship.
Do You Want to Participate in the Cohort?
Spots are limited. No more that 10 people/couples will be allowed to participate. Any over that can save a spot on the next one. Use this Link to Register for the October 22 start date. By the way, the nominal fee will be fully restored to you in the event that you leverage Knabb Consulting services for introductions to franchise brands and ultimately to invest in a franchise brand.
It’s going to be fun and informative!
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