How To Be A Wealthy Franchisee

Some franchisees are slaves to their businesses. Others make great money and still have time to enjoy their lives. What's the difference? Mindset and execution.

- SCOTT GREENBERG

David answers my call on his Bluetooth-enabled helmet from atop an Aspen ski slope. He doesn't need to take calls on vacation-he just likes being available. I assure him we can talk later. Certainly, we can wait until he's reached the bottom.

David is one of the top franchisees in a brand of early childhood development centers. He has money, but equally important, he has time. He doesn't always have to be at work, and his wife never has to be there. She practices law. Together, they bring in plenty of money to raise their family in a great neighborhood, travel, and ski. David runs his business. It doesn't run him. He is a good example of the many wealthy franchisees I've met over the years the people with the highest profits and the best lifestyles.

Being a wealthy franchisee is a question of personality. Anyone can take on this personality. Anyone can embrace these high-performance habits and get the same results. Wealth is nothing but a byproduct of choices. You don't need talent, education, or brilliance. You don't even need an idea-you've already paid your franchisor for one. You just need to execute.

That concept is simple to understand, but often hard in practice. Most people don't execute as well as they should. They think they've bought a recipe for success. In a way, they have.

Their franchisor tells them what ingredients to get and what to do with them. But the franchisor can't control how well they measure, slice, stir, or bake.

Your franchisor can't control how warmly you greet customers. They can't force you to inspire your employees. They can't shift your focus from the minutiae to the big picture. So many elements of the business are on you. You are the biggest variable, and your impact on your operation can't be overstated.

But that's great news. It means you're betting on yourself. You're in control. When you work for someone else, you're betting on them.