GROWTH - When You Think Big, You Earn Big

Operating like a multi-unit franchisee can lead to better decisions and outcomes.

- ALICIA MILLER

Many first-time franchisees start to investigate the franchise business model by looking at concepts they can run themselves: single units with an owner-operator. But that approach can be self-limiting, creating blind spots when it comes to evaluating franchise opportunities.

Instead, do your due diligence and initial business planning with a multi-unit owner mentality. Even if you ultimately buy only a single location, this mindset will help you avoid weaker concepts, reveal the best options for wealth creation, and may even cause you to consider new and more interesting franchise opportunities. Here's how to think bigger.

Don't just think big. Plan big.

Owner-operators tend to initially put themselves in a daily management role, and then struggle to lift themselves out of it. In the beginning, they may enjoy the pace and hands-on involvement-it's very tactile and "real." But then they either run out of time and energy to replace themselves with a manager or shift leader, or they settle into a comfort zone of "busy"-too busy to think big. This isn't how you build a large business. Eventually, you need to empower others and delegate.

Franchisees who plan to own multiple territories from the beginning also plan, at the same time, to build the right team. Once that team is trained and in place, the owner can focus more on growth initiatives, creating a great work culture, removing obstacles, and constantly recruiting new team members.

In contrast, some new owner-operator franchisees may even omit manager and shift leader salaries in their early budgeting to "save money." This is a mistake. Owners who are too mired in daily activities don't have time to focus on long-term growth. This approach starves the business and burns out the franchisee.