Launching or growing a business can feel a lot like the Wild West.
You’re basically a lonesome cowpoke, plodding through the open plains of entrepreneurship.
Maybe you wrangle up a few killer deals.
Maybe you lasso some grade-A clients.
Maybe a tumbleweed blows by.
But how long until you tie your horse up at the local watering hole, hang your hat, and sit down for some good old-fashioned socializing?
Because, here in the real world, network support is everything.
That’s right, your contacts could ultimately make or break your success.
They might be pros who’ve walked the same path before you. Or maybe they’re new to the world of mortgage franchising, learning valuable lessons as they go. But either way, finding community and support as you develop along your own path will be key.
Network Support in a Mortgage Franchise System
While it might not be quite as action-packed or suspenseful as your favorite Classic Western film, mortgage franchising is its own kind of new frontier.
Whether fielding compliance questions or staying on top of trends, (smart) entrepreneurs in this industry will eventually need to lean on each other.
So, there are a few main benefits related to network support that you might want to look out for if you’re interested in owning a mortgage franchise:
Staying Abreast of Trends
Be honest: Are you in a local real estate bubble? Even just a little?
It’s a big, big world out there. And the real estate and mortgage markets change almost every time you and your trusty steed cross county lines!
Sure, you might know your local market like the back of your hand. But what do you know about the market in Popejoy, Iowa or in Whynot, North Carolina?
While those two highly specific (and very real) places might not be at the top of your list of intrigue, there’s always value in greater knowledge.
When you have the opportunity to connect with mortgage professionals in hundreds of offices all across the country, you can gain first-hand insight into diverse, real-world real estate happenings.
Learning from Shared Experience
Even if you’ve built a business before, you may be new to franchising.
No worries, because whatever your story is, there are probably at least a few entrepreneurs who’ve been in your shoes!
Maybe you’ll connect with a fellow franchise owner who opened their biz on the very same day you did. The two of you could bond over marketing, hiring, or maybe even those first-day jitters.
Or, maybe you’re more interested in picking the brains of only the most seasoned pros in the industry. These people may have the expertise you need to help nail your first year and grow your operation.
Whatever the case may be, learning from shared experience can be priceless.
Building Community
We’ve already covered the fact that building a business can be lonely, but that’s where building a community comes into play.
Network support in a franchise system basically means you have access to a built-in group of brand-new peers and potential colleagues.
Not only can these experts offer insight and advice, they might be a good source of emotional support, too. Your fellow franchisees can help you bounce back from any losses and celebrate your wins!
Now that’s putting the “support” in “network support.”
Seeking Mentorship
If you’re lucky, you might just find a mentor
Either way, keep in mind that a solid mentor could offer advice, provide feedback, help you set and achieve goals, and foster overall professional growth.
That sort of mentorship can help you learn to wield the force (in this case, your mortgage and entrepreneurial skills) for good.
Growing Your Referral Network
You know what they say: it pays to know people who know people!
Every little bit you nurture and grow your network means more potential referrals.
Maybe a fellow franchise owner knows a stellar real estate agent not far from your office and can make a connection, opening up a potential well of new originations. Or maybe one of their former clients is moving and looking to buy in your town. That might mean an origination plus maybe a refinance down the line.
Long story short: you never know what can happen when you expand your reach.
And we’re back to the cowboy motif — Yeehaw!
So, is it time to leave your life of rugged solitude behind? Hitch your wagon to the wealth of network support a franchise network brings? It might not make for the best TV, but odds are it’ll make for good business.
As John Wayne (allegedly) once said, “Courage is being scared to death but saddling up anyway.”
And with a few more cowpokes in your gang, maybe that fear eventually fades into confidence.
Now, it’s time to giddy up and go!
Published on May 2, 2025
