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FranNet Releases Economy "Survival Guide" for Entrepreneurs

Company recognizes Entrepreneur Month with advice for established entrepreneurs and individuals looking to own their own business 

You may not be on the famed television show Survivor, placed in a tribe and left to find your own way to live in Tocantins, Brazil. But, if you are an established entrepreneur or looking to start up your own business, you are probably trying to put together a plan of your own – to survive the rocky economy. 

Due to the challenges of the current economy, many business owners have had to redevelop their strategy and rethink their business plans to find ways to save money for their company, as well as attract customers and clients to its services. In honor of Entrepreneur Month this May, FranNet is helping local entrepreneurs and start-up business owners pull through the challenges of a weak economy with its "Economy Survival Guide for Entrepreneurs."

According to Jania Bailey, president and COO of FranNet, there are tips that business professionals can follow to help them get through a tough time in America's history.

FranNet's Economy Survival Guide for Entrepreneurs

1. Money Doesn't Grow on Trees, but it can certainly grow from owning a franchise if you choose the right one. If you are looking to start up your own franchise, it is very important to choose a business that not only works with your lifestyle, but one that also has shown success. Do some research and see how franchise companies have survived the economy thus far. That should help you decide what franchise works best for you.
    
2. Location. Location. Location. With the current economy, consumers are looking for convenience and avoiding traveling far to make their purchases. Franchised business owners should put a strong emphasis on the "local" angle with marketing and public relations efforts. Remind customers that by using your services, they can save on gas and shipping costs.
    
3. The Magic of Referrals. Just because the economy isn't at its best right now, doesn't mean that a business cannot be successful. Customer service is a critical component for a successful business, and more importantly, it leads to referrals. Be sure you are on your game plan with making sure you are meeting your client's needs. Then, watch your customer base grow.
    
4. Stay Active. Whether you already own a business or are looking to start up one, remain active and always look for opportunities – don't wait for opportunities to come to you. The recipe for success starts with constant activity. Be sure to stay on top of the trends in your industry and make sure you are especially on top of the current technology. That will not only leverage your brand, but also make your business stand out from the rest.
    
5.  Take it from the Professionals. Seek the advice of a business consultant or coach to find out how you can keep your business growing. Sometimes it takes someone from the outside in order for you to really understand the opportunities that are available for your business. Not only can a consultant point out areas for improvement, a consultant can also detect if you are taking the wrong approach in your business model. Contact your local SCORE office. They provide small business advice to entrepreneurs to help form and grow successful businesses.

"We understand how difficult it can be to run a business in today's economy and we hope that this guide will be helpful for business professionals in the local community," Bailey said. "FranNet consultants work individually with clients to educate them on the franchise industry as an option they might not have considered. Even if they do not decide to select a franchise, they know franchises may be their competition. If a franchised business is for them then we will match the right one for them and their lifestyle goals. We specialize in helping our clients find the right franchise through our exclusive matchmaking process."

According to the International Franchise Association, franchised businesses generate a significant amount of economic activity in the country, including generating more jobs between 2001 and 2005 than several of the nation's major economic sectors.

"Franchised businesses create thousands of jobs each year and have helped develop local economies, while providing endless business opportunities," Bailey said. "The great thing about owning a franchise during this state of the economy is that franchises have proven systems to make sure potential business owners are successful in building their business and many are recession resistant."

For more information about FranNet, visit www.frannet.com.

About FranNet
FranNet provides free guidance and information to individuals who are interested in purchasing a franchised business. Our role is to educate entrepreneurs on the franchise industry to help clients determine if franchise ownership is for them. FranNet works with many of the best franchises in the industry and FranNet consultants use a special profiling and consultative process to determine the right franchise opportunity and business model unique to each person. Our services are 100% free through the entire process. FranNet hosts numerous informational seminars and educational programs that are open to the public each month throughout the country and online. To learn more about opportunities with FranNet call 1-800-FRANNET and visit www.frannet.com.