Start a The Entrepreneur's Source Franchise in 2024

2024 Franchise 500 Rank: #209 Ranked #311 last year

Initial investment: $114K - $126K

Units as of 2024: 222 69.5% over 3 years

Established in 1984 by Terry Powell, The Entrepreneur's Source became one of the first virtual financial coaching companies. Powell originally founded The Entrepreneur’s Source to educate individuals and help them achieve their dream of independence in money-related issues. It now assists people who want to be self-sufficient in their careers, businesses, and future, but may not have the proper layout to start.

The Entrepreneur's Source specializes in consulting, guidance, and other types of franchise coaching to help people discover how a franchise opportunity may make a difference in their income, lifestyle, and equity goals. The Entrepreneur’s Source currently has more than 100 franchising units in various states across the United States since opening its first franchise in 1997.

Why You May Want To Start a The Entrepreneur's Source Franchise

Franchisees should have a common goal: to help entrepreneurs. Because of this, The Entrepreneur’s Source doesn't usually require related experience. Applicants will typically undergo a training program, but it may benefit a franchisee to enjoy empowering others through business mentorship and ownership.

The Entrepreneur's Source has been ranked in Entrepreneur's Franchise 500. This ranking is based on an evaluation of more than 150 data points in the areas of costs and fees, size and growth, franchisee support, brand strength, and financial strength and stability.

Opening a The Entrepreneur’s Source franchise could offer a more predictable outcome than investing in a completely new brand that may struggle to thrive in an already crowded and competitive industry.

What Might Make a The Entrepreneur's Source Franchise a Good Choice?

A typical day at a The Entrepreneur’s Source franchise consists of meeting clients virtually, participating in training and education programs, and receiving referrals from different clients. You usually do not need employees to do this. However, you have the option to hire.

To be part of The Entrepreneur's Source team, you should make sure you're financially ready for an initial investment made up of a franchise fee and other startup costs. In addition, you should prepare yourself for ongoing fees that will include advertising, royalty, and potential renewal fees. Franchisees may also need to meet the company's set net worth requirements.

How To Open a The Entrepreneur's Source Franchise

Franchisees may receive a great deal of support from The Entrepreneur’s Source throughout the franchising process if awarded a franchise. In addition to pre-opening training, The Entrepreneur's Source franchisees may receive support through brand awareness, marketing, research, and construction. Potential franchisees may also receive hands-on training and continued support after opening their franchise location.

Before making any financial commitment or signing an agreement with The Entrepreneur's Source, you must perform your due diligence and establish if this is the right opportunity for you. As part of your due diligence, you may want to speak to existing franchisees and ask questions about The Entrepreneur's Source franchising team.

Research the brand and your local area to see if The Entrepreneur's Source franchise would do well in your community. While competition is healthy, too much of it may not allow for the most possible growth.

Company Overview

About The Entrepreneur's Source

Industry	Business Services
Related Categories	Business Coaching & Consulting, Miscellaneous Business Services
Founded	1984
Parent Company	Franchise Source Brands Int'l.
Leadership	Marissa Frois, CEO
Corporate Address	464 Heritage Rd., #3 Southbury, CT 06488
Social	Facebook, Twitter, LinkedIn, Instagram, YouTube

Business Overview

Franchising Since	1997 (27 years)
# of employees at HQ	40
Where seeking	This company is offering new franchises throughout the US. This company is offering new franchises in the following international regions: Canada
# of Units	222 (as of 2024)

Information for Franchisees

Here's what you need to know if you're interested in opening a The Entrepreneur's Source franchise.

Financial Requirements & Ongoing Fees

Here's what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.

Initial Franchise Fee Definition: The initial fee paid to a franchisor to join their system What you need to know: Found in Item 5 of the FDD, this may be a flat fee, or may vary based on territory size, experience, or other factors.The franchise fee is an up-front (one-time) cost that a new franchisee pays to the franchisor. This fee is usually due at the signing of the franchise agreement and covers the right to use the franchisor's trademarks, name, and related business systems.	$75,000
Initial Investment Definition: The total amount necessary to begin operation of the franchise What you need to know: The initial investment includes the franchise fee, along with other startup expenses such as real estate, equipment, supplies, business licenses, and working capital. This is outlined in a chart in Item 7 of the FDD, showing a range of possible costs from low to high.	$114,350 - $125,950
Net Worth Requirement Definition: The minimum net worth you must have in order to qualify to become a franchisee of this company What you need to know: Net worth is the value of a person's assets minus liabilities. Assets include cash, stocks, retirement accounts, and real estate. Liabilities include items like mortgages, car payments, and credit card debt.	$199,000
Cash Requirement Definition: The minimum liquid capital you must have available in order to qualify to become a franchisee of this company.	$100,000
Veteran Incentives Definition: A discount or other incentive offered to military veterans who buy a franchise with this company.	15% off franchise fee
Royalty Fee Definition: A ongoing fee paid to the franchisor on a regular basis. What you need to know: Most franchisors require franchisees to pay an ongoing royalty fee, which is detailed in Item 6 of the FDD. This fee is typically a percentage of weekly or monthly gross sales, but may also be a flat weekly, monthly, or annual fee.	25%
Ad Royalty Fee Definition: An going fee paid to the franchisor on a regular basis to support advertising or marketing efforts. What you need to know: This may also be called advertising fee, marketing fee, brand fund fee, and more, but the basic purpose is the same-- to support promotion of the brand systemwide. As with the royalty fee, it is detailed in Item 6 of the FDD, and can be a percentage of weekly or monthly gross sales or a weekly, monthly, or annual fee.	$750/mo.
Term of Agreement Definition: The length of time your franchise agreement will last. What you need to know: Franchise terms are typically anywhere from 5 to 20 years in length, but are sometimes instead dependent on factors such as the term of your lease. Once your term is up, you may have the option to renew your agreement, typically for a smaller fee than the original franchise fee.	10 years
Is franchise term renewable?	Yes

Financing Options

Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.

Third Party Financing	The Entrepreneur's Source has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory, payroll

Training & Support Offered

Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.

On-The-Job Training	202 hours
Classroom Training	80.5 hours
Ongoing Support	Newsletter Meetings & Conventions Grand Opening Field Operations Proprietary Software Franchisee Intranet Platform
Marketing Support	Ad Templates Social Media SEO Website Development Email Marketing

Operations

Additional details about running this franchise.

Is absentee ownership allowed?	No
Can this franchise be run from home/mobile unit? Definition: The business can be run from your home and/or a vehicle, and it is not necessary to have a retail facility, office space, or warehouse.	Yes
Can this franchise be run part time? Definition: This business can be run by the owner on a part-time basis (less than 40 hours per week) and/or as a side business; it is not necessary for the business to be open/run full-time.	No
# of employees required to run	1
Are exclusive territories available? Definition: An exclusive territory is a fixed area in which you are given the right to operate and in which no other units of the same franchise may be opened. What you need to know: Territory size may be based on factors such as radius, population size, zip codes, and more. Details can be found in Item 12 of the FDD.	No