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How to Be A Wealthy Franchisee – Entrepreneur

David answers my call on his Bluetooth-enabled helmet from atop an Aspen ski slope. I catch him just before he pushes off to descend this powdery, black-diamond heaven. He doesn’t need to take calls on vacation — he …….

David answers my call on his Bluetooth-enabled helmet from atop an Aspen ski slope. I catch him just before he pushes off to descend this powdery, black-diamond heaven. 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.


Pete Ryan

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. David is a good example of the many wealthy franchisees I’ve met over the years. When researching the companies that bring me in to speak, I always ask to interview their superstars. And by that, I don’t mean the franchisor’s favorites. I’m talking about the ones with the highest profits and the best lifestyles. They are the wealthy franchisees.

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. Now 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 don’t appreciate their role as a franchisee. 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 minutia 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.

Related: The 8 Things You Need to Know If You Think You’re Ready to Turn Your Business Into a Franchise

There’s a perception of stability when you have a job. Don’t believe it. In that situation, you can do everything right and still get burned.

Most businesses …….

Source: https://www.entrepreneur.com/franchises/how-to-be-a-wealthy-franchisee/435038

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