The First 90 Days of Franchise Ownership: Part I - Pre-opening

Congratulations! You're transitioning from corporate employment to franchise ownership. The first 90 days of your new franchise are crucial. They set the foundation for long-term success. This period is about establishing habits, setting up systems, and building a strong team.

This article is the first in a series to help new franchisees establish a solid foundation to build a successful business that owns a franchise. Unexpected challenges and setbacks will occur. Address them with a passion for learning and a growth mindset. A successful franchisor told me, “If a new franchisee doesn’t have moments of extreme doubt, they’re not passionate enough to succeed.”

I - Establishing a Clear Vision for Your Franchise

Start with a clear vision. Where do you want your franchise to be in 5 years, 10 years, or selling your franchise? This vision guides your decisions. It’s your roadmap.

When I started the first ImageFIRST franchise, my vision was clear: financial security for my family, provide comfort for patients (end users), and job security for my team and their families. This vision drove every decision, from hiring to marketing strategies.

Your Business that Owns a Franchise: Vision is Different and Aligned with Franchisor

Your vision must align with but not replicate the franchisor’s vision. Your business has its unique path than that of the franchisor and franchisees in the brand. Ensure your vision supports the franchisor’s brand while addressing your specific goals.

Three Visioning Strategies:

1. Organizational Chart: Visualize your franchise’s future by creating an organizational chart. Define roles and responsibilities needed to support your growth. Initially, your name will be in most of the boxes. As you grow, aim to replace yourself with competent team members.

2. Future Celebration Story: Write a story of a future celebration in the present tense. Imagine a significant achievement for your franchise. Put yourself in the middle of the celebration and detail the successes and milestones reached.

3. Metaphorical Growth Journey: Use a metaphor to describe your franchise’s journey. For instance, see your business as a tree growing healthy roots (foundation) and branches (expansion). This metaphor helps you visualize growth and navigate challenges. What does your metaphor look like now, and where are you in the picture? What will your metaphor look like in the future, and where are you?

II - Break Down Long-Term into Smaller and Near-Term Goals

Divide your long-term objectives into smaller, manageable goals. This approach makes your vision achievable. It also allows you to celebrate small wins, building momentum and confidence.

What’s Your Mission?

Your mission defines why your franchise exists. It’s the reason you and your team come to work each day. A clear mission statement aligns your team and drives daily actions.

Return to Your Values for Every Decision

Non-negotiable values are the backbone of your business. They guide every decision. Keep your list of values short, ideally five or fewer. These values shape your company culture and decision-making process.

Importance of Goal Setting in Franchise Success

Goal setting is critical. It provides direction and measures progress. Clear goals keep you focused and motivated. They help track success and identify areas for improvement.

SMART Goals: 3 Strategic Priorities

SMART goals are Specific, Measurable, Achievable, Relevant, and Time-bound. These goals ensure clarity and focus. Identify three strategic priorities for the first 90 days. This focus drives significant progress.

Effective goals are clear and actionable, aligned with your vision and mission, and flexible, allowing adjustments as needed.

- Specific: Clearly define what you want to achieve in your first 90 days.

- Measurable: Establish criteria to measure progress.

- Achievable: Ensure the goal is realistic. Review your first 90-day goals with your franchisor and franchisees in the brand to check.

- Relevant: Align each goal with your long-term business objectives.

- Time-bound: Set a deadline to achieve the goal.

Tips for Ensuring Goals are Specific, Measurable, Achievable, Relevant, and Time-bound:

1. Be clear and concise: Avoid vague goals.

2. Set realistic expectations: Ensure goals are attainable. Check yourself.

3. Align with broader objectives: Ensure goals support your vision and mission.

4. Set deadlines: Keep goals time-bound to maintain urgency.

III - Implementing 90-Day Strategic Planning

1. Break Down 90 Day Goals into Monthly Goals: What needs to be accomplished by the end of months 1 and 2 to meet your first 90-day goals? Your monthly achievements will look like stair steps or teeth on a saw, not a straight line.

2. Set Weekly Goals to Meet Monthly Goals:

1. Determine your mindset and goals for the week Sunday evening/Monday morning: Reflect and review what you need to accomplish daily.

2. Write it down: Keep your goals visible and share them with your team.

3. Pause and remember your mindset when chaos hits: Review your plan and adjust as needed.

4. Execute and have a great week: Stay focused, positive, and proactive.

Conclusion

The first 90 days are crucial. They lay the groundwork and habits for your franchise's long-term success. Focus on building productive habits, efficient systems, and a high-performing team. Use this guide to navigate your journey and achieve your business goals.

Next week, I’ll talk about creating local systems to complement the franchisor’s operations manual, building your high-performing team, and establishing community alliances.

For more detailed guidance and support, click the calendar link in the comments to schedule our first conversation. Let's make your franchise journey a success!

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