From Assumptions to Adaptations: Lessons Learned as a Franchise Owner-Operator

As a franchise owner, you have a very clear choice: Be a semi-absentee (semi-involved) owner with a management team running your business, or dive in as an owner-operator, giving it your all.?

While the former might sound appealing, the reality is that franchising requires a huge commitment, especially for owner-operators. It's crucial to understand what you're getting into and play to your strengths to ensure success.

Know Yourself and Your Skills

When we started our first franchise, we made some assumptions that we later had to change.?

We realized the importance of knowing the franchisor and what we wanted from the business, and also understanding our own skills and weaknesses.?

After a year, we switched roles, putting Sharon in charge of running the business while Mack focused on sales. This decision turned out to be a game-changer for us. We started out as owner-operated and moved to the manager-run, semi-involved model within a year.

Operation Management: Keeping the Ship Afloat

As an owner-operator, your primary role is to keep the ship afloat by following the franchise's business model, best practices, and tools.?

This includes operation management, ensuring everything runs smoothly and addressing any questions or concerns with the franchisor. One of the biggest pieces in building your business is identifying the culture you want to have and being sure to model it from the top down. (More on this in another article.)

However, it's important to remember that as your business grows, your processes will evolve.?

Be prepared to adapt and make changes as needed!

Marketing and Branding: Getting Creative

Marketing is another key responsibility. While the franchise usually provides a full-time marketing person to create ads, it's up to you to place them in your local market and track their effectiveness.?

Branding is crucial, and getting involved in your community can make a big difference.?

During the pandemic, when malls and Santa were shut down, we got creative and had Santa and Mrs Claus ride in our vintage Ford truck, waving at people along the highway. This unique approach landed us on the local news four times, providing excellent exposure for our business. On the off-time, our little truck sat in our yard as our Christmas decor, with lights and a tree, gathering lots of attention and branding.

Sales: The Lifeblood of Your Business

As you can see in the picture, we have fun, but sales is the lifeblood of any business. As an owner-operator, you may handle this role yourself or eventually hire a salesperson. If you are starting out semi-involved, you will want to hire someone but also know the sales process inside and out.?

Ensure that your sales team is well-trained and comfortable with the product and speaking to people. Utilize the franchise's tools and best practices, but also be open to trying new approaches that work for your local market.

Back Office and Finances: Keeping Things in Order

Handling the back office, finances, and vendor management is another critical aspect of running a franchise.?

Consider hiring an accountant for tax preparation, compliance, and strategic business planning.?

As the owner-operator, you'll handle day-to-day finances using the franchise's recommended software. Keep your books clean and organized, especially if you have an exit plan in mind.

Building Strong Vendor Relationships

Building strong relationships with vendors is also essential. Show your appreciation by bringing them treats, engaging in conversations, and being a reliable partner.?

These relationships can lead to valuable referrals and help keep your business top of mind.

Staffing and HR: Hiring the Right People

As your business grows, staffing and HR become increasingly important. Hire people who compliment your strengths and have character, competency, and chemistry with you and your team. Keeping your business culture on track.

Always hire slowly and fire quickly if necessary, as a bad hire can have lasting negative impacts on your organization.

Final Thoughts

Owning a franchise business is a juggling act that requires dedication, adaptability, and a willingness to roll up your sleeves.?

While the franchise provides support, tools, and a proven business model, it's up to you to deploy them effectively.?

With the right mindset and approach, franchising can be an incredibly rewarding experience.

Ready To Explore Franchising? Let’s Talk!

Mack and Sharon Strange are on a mission as Franchise Consultants to help others go from “Start” to “Success” when it comes to franchise ownership.

If you’re curious about exploring franchising as a career pivot, investment vehicle or lucrative side hustle, let’s talk!

Frequently asked questions (FAQs)

Q: How do I book a call?

A: You can book a free, no obligation call with Mack here and/or a free call with Sharon here.

Q: How much do your services cost??

A: As Franchise Consultants, there’s no fee for our services. We’re compensated by franchisors only if and when you decide to move forward with (and are approved for) franchise ownership.

Q: What do you do??

A: ?Our role is to serve as a trusted guide and educational resource.

Q: Where can I learn more??

A: You can learn more about our story and how YOU can follow in our footsteps via the Franchise Together Podcast.

We look forward to connecting with you soon!