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- 2022 Franchise 500 Rank
#316 Not ranked last year
- Initial investment
$118K - $126K
- Units as of 2022
149 23.1% over 3 years
Here’s what you need to know if you’re interested in opening a The Entrepreneur's Source franchise.
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.
About The Entrepreneur's Source
- Franchising Since
- 1997 (25 years)
- # of employees at HQ
- Where seeking
This company is seeking new franchisees throughout the US.
This company is seeking new franchisees in the following international regions: Canada
- # of Units
- 149 (as of 2022)
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.
- Initial Investment
- $117,600 - $125,900
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.
- 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.
- Cash Requirement
Definition: The minimum liquid capital you must have available in order to qualify to become a franchisee of this company.
- Veteran Incentives
- 15% off franchise fee
Definition: A discount or other incentive offered to military veterans who buy a franchise with this company.
- 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.
- 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.
- Term of Agreement
- 10 years
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.
- Is franchise term renewable?
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
- 207.5 hours
- Classroom Training
- 80.5 hours
- Additional Training
- Ongoing Support
NewsletterMeetings & ConventionsGrand OpeningOnline SupportField OperationsProprietary SoftwareFranchisee Intranet Platform
- Marketing Support
Ad TemplatesMarketing Planning & SupportSocial MediaSEOWebsite DevelopmentEmail Marketing
Additional details about running this franchise.
- Is absentee ownership allowed?
Definition: Absentee ownership means that the franchisee does not actively work in the franchise business or manage day-to-day operations.
- 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.
- 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.
- # of employees required to run
- 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.
Interested in franchise ownership like The Entrepreneur's Source? Request a free consultation with a Franchise Advisor now.
Franchise 500 Ranking History
Compare where The Entrepreneur's Source landed on this year’s Franchise 500 Ranking versus previous years.
Curious to know where The Entrepreneur's Source ranked on other franchise lists? Find out below.
Are you eager to see what else is out there? Browse more franchises that are similar to The Entrepreneur's Source.
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