I built you a time machine.
Sadly, you can’t use it to get the winning lottery numbers. Instead, I wrote a list to a guy trying to grow his franchise business who spent years feeling defeated, stressed, and on the cusp of quitting.
That guy was me in 2019.
If I had this list back then, it would have kept me going, helped me get faster results and set some better expectations.
Let me know if it helps
1. Your attitude affects everything from team morale to customer experience.
2. The best managers come from within; identify and nurture talent early.
3. Culture eats strategy for breakfast; protect it fiercely.
4. Your customer experience should be identical regardless of which staff member provides it.
5. Hire for character first; skills can be taught, but integrity can’t be trained.
6. Invest in yourself as much as you invest in your business.
7. Praise publicly, coach privately, every single time.
8. Stop working IN the business to start working ON the business.
9. The best way to retain talent is to create clear growth paths.
10. Invest heavily in training & development.
11. Your fellow franchisees are resources, not competitors.
12. The people who interact with customers determine your success.
13. Document your expectations; you can’t hold people accountable to standards that exist only in your head.
14. Track labor as a percentage of sales by the day, not just by the week or month.
15. Understand your margins better than anyone else.
16. Frontline employees who feel valued create customers who feel valued.
17. Train your team on systems, but teach them to think beyond the manual.
18. Fire fast, hire slow – a bad employee costs more than an empty position.
19. Cross-pollinate best practices between your units; what works in one can work in all.
20. Know your “cost per lead” and adjust your budget accordingly.
21. Meet with your managers weekly; coach them daily.
22. Separate real estate entities from operating entities.
23. Consistency beats perfection in franchise operations.
24. Know your KPIs and review them daily.
25. Build your bench three deep; every key position should have two people ready to step up.
26. There is no better investment than yourself.
27. Always keep six months of operating expenses in cash reserves.
28. Pay your best people more than market rate; losing them costs more.
29. Create an advisory board of non-competing franchisees for honest feedback.
30. Cash flow is the lifeblood of the business. Protect it at all costs.
31. Multi-brand franchising works best when the operations are complementary.
32. Don’t grow faster than your leadership team can handle.
33. Know your capacity – saying no to growth opportunities is sometimes the smartest move.
34. Build trust with your franchisor for better territory opportunities.
35. One great location outperforms three mediocre ones.
36. Your best ideas will come from other franchisees, not headquarters.
37. Negotiate better deals with vendors by leveraging multi-unit volume.
38. Set aside money every week for equipment & CAPEX.
39. Real estate is for protecting wealth, not growing it.
40. Your business should serve your life, not the other way around.
41. Multi-unit success depends on consistent execution across all locations.
42. The best time to secure financing is when you don’t need it.
43. The first unit teaches operation; the second unit teaches delegation.
44. Create checklists for everything that matters to your business.
45. Spend time in the trenches regularly to spot operational weaknesses.
46. Your mindset as an owner sets the ceiling for your business.
47. Growth requires investment; budget for marketing constantly.
48. The franchisor sells the dream; you build the reality.
49. Network with franchisees from other systems for fresh perspectives.
50. Challenge conventional wisdom but respect proven systems.
51. Stay humble – arrogance is the precursor to failure.
52. Business success is a marathon, not a sprint.
53. Invest in yourself as much as you invest in your business.
54. Maintain a good relationship with your franchisor; they control your future growth.
55. Learn from failure but celebrate success – both are necessary.
56. Your mindset as an owner sets the ceiling for your business.
57. The path to 8 figures starts with mastering the fundamentals.
58. Success leaves clues – study those who’ve built what you want to build.
Cheers!
Brian
P.S. Want to take your franchise business to the next level? The quickest way is to surround yourself with other high-performing franchisees.
Only 8 spots are open for new members in March. Reply “community” to see if you’re a fit.
