Everything You're Going to WISH Someone Had Told You Before Opening a Franchise

Hindsight is a great teacher, and looking back at our franchise ownership journey, we were recently discussing what we wish someone would have told us before we started down this road.

For example, if we had dug a little deeper into understanding our unique gifts and talents, our journey might have been a bit less bumpy. 

I’ve talked in previous articles about the importance of matching the right people with the right talents and gifts to the right roles inside your franchise, and that’s something we didn’t do early on - a mistake that cost us a lot of sleepless nights.

What’s Your Ideal Role?

When it comes to franchise ownership, it's crucial to not just recognize what you’re good at based on your past roles and work experience, but to also explore how it will translate to the type of franchise you’re going to own and operate.

Big lesson: We genuinely wish we had assessed our personalities and strengths in relation to the roles we'd play in our franchise before we started.

For context, Mack was once a pastor of several different churches, including some as large as 4,000 members.

He thought he knew leadership. However, he eventually realized that while he excels at sales and conveying belief, he’s not necessarily the most adept leader when it comes to business operations, processes and other details.

In contrast, as a former teacher, Sharon displayed a more innate leadership capability when it came to the systems and processes needed to have our franchise humming along. Had we recognized this earlier, our journey would have been much smoother.

You also have to factor in your own personality and sense of validation as part of this process. 

Admittedly, Mack’s sense of self was deeply intertwined with his role as a minister, and realizing that Sharon was a better-suited leader for our franchise business was a humbling experience. 

Yet, it was the best decision for our business - and we thrived as a result, generating 7 figures of revenue in our first year!

Mindset Matters

Speaking of experiences, the emotional roller coaster of being a franchisee is intense. Some days you're on top of the world, feeling like a successful entrepreneur, and other days can be downright challenging. 

The highs and lows can be overwhelming, emphasizing the importance of emotional check-ins with your business partners or even other franchisees. 

In addition, as someone (Mack) who spent a significant part of his life in roles of teaching and preaching, the sometimes intense confrontations in the business world caught him a bit off guard. Whether it was a customer's frustration or an error on our part, the key was learning to stay calm and assure our clients that we'd make things right. And we always did.

Another valuable lesson: the importance of having an abundance mentality. Many times, we're faced with a choice – to view life through the lens of scarcity or abundance. 

We either see life with an open hand or a closed fist.

The scarcity mindset is plagued by worries of not having enough, while the abundance viewpoint is filled with optimism and belief in endless possibilities. 

It's easy to fall into the trap of the scarcity mindset, especially when faced with business challenges. But I wish someone had told us to focus on the present, serve our customers and team diligently, and trust that things would fall into place - because they always did!

In reflection, the franchising journey has been a profound learning experience. Embracing change, recognizing our strengths, and adopting an abundance mindset have been pivotal. 

We hope they serve as guidance for those looking to embark on a similar path!

Ready To Explore Franchising? Let’s Talk!

These days, we 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!

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

As Franchise Consultants, there’s no fee for our services.

Rather, our role is to serve as a trusted guide and educational resource, and we’re compensated by franchisors only if and when you decide to move forward with (and are approved for) franchise ownership.

Lastly, you can learn more about our story and how YOU can follow in our footsteps via the Franchise Together Podcast here: https://franchise-together.onpodium.co/

We look forward to connecting with you soon!