I love the movie Jerry Maguire. I actually had the opportunity to meet Leigh Steinberg, the inspiration to the movie years ago in some business dealings while in Winnipeg, Manitoba Canada. When together he offered me one of his books, Winning with Integrity that has in it “may all your hopes and dreams come true.” I hope that in each of our businesses we hold on to the “dream”. Whatever that may be, and begin business opportunities with that end in mind. One of the big reasons I got into franchising, is I am a firm believer the franchising model helps people do just that, brings their dreams into reality. There is a lot of satisfaction that comes from being your own boss, owning your own business, and having the freedom that comes with entrepreneurial endeavors. It definitely isn’t all roses, but anything worth having comes with a lot of sacrifice.

This week, I have had two cool experiences with this that really highlighted to me why people buy franchises. One was at Bajio, a Mexican style restaurant franchise. They were bought by Subway a few years back. The owner had been in the system for 5 years, was one of their first franchisees, and has put 80-hour work weeks into the business for the first few years. Five years later, he has a little money tree, that is well established, with deep roots that produces a profit in all but one month in the past several years. Harvest time is here and he is looking at selling the money tree for $750,000.

$ tree

The other experience was one of those ‘A-ha’ moments that occurred during discovery day with a potential franchisee. He was a big reader, and believer in the book Emyth by Michael Gerber. It is a great read and really nails why we started franchising. We got to talking about the technician trap, getting sucked into being the painter in a painting business, instead of being a business owner in a painting business. Our franchises are setup to avoid this trap and stay focused on the franchise as a business opportunity not a painting opportunity. As we talked about the business we discussed all the areas of expertise that it takes to make a successful business in today’s business environment. Let me just hit on a few. Social Media, Search Engine Optimization, Search Engine Management, Sales, Operations Management, Technology, Finance, Advertising, and the list continues.

What would it cost you to have an expert working for you in all of these areas? One expert alone would cost at least $6k a month. What if you could have 7 experts working on your business full time for $2k a month? This is the SHOW ME THE MONEY moment. That is what a franchisee who just starts out gets. A whole bunch of experts working day in and day out on how to make your business more money. I love the franchising model because it creates the economies of scale very quickly for that small business owner so that he or she can reach their dreams.

Scott

Add A Comment

Subscribe to D Scott Abbott
Copyright© 2009