{"id":615,"date":"2019-07-17T16:05:45","date_gmt":"2019-07-17T16:05:45","guid":{"rendered":"https:\/\/www.toddweissfranchisepro.com\/?p=615"},"modified":"2019-07-17T16:06:21","modified_gmt":"2019-07-17T16:06:21","slug":"franchise-ownership-franchise-leadership","status":"publish","type":"post","link":"https:\/\/www.toddweissfranchisepro.com\/franchise-ownership-franchise-leadership\/","title":{"rendered":"Franchise Ownership vs Franchise Leadership"},"content":{"rendered":"

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Franchise Ownership vs Franchise Leadership<\/strong><\/h2>\n

 <\/p>\n

I used to work in an office where the owner would arrive at 7:55 am on the dot every single morning.<\/p>\n

He would walk past everyone without saying a single word and disappear into his private \u201cboss cave\u201d not be seen or heard from until he needed something from you.<\/p>\n

Drove me (and everyone else) nuts.<\/p>\n

Not saying good morning might sound like a pretty insignificant thing to some. However, it told everything I needed to know about this guy \u2013 he might be the owner of the company but he was not the leader he needed to be.<\/p>\n

It was a lesson I took to heart when I bought my first franchise. I always made it a point, no matter what was going on with me personally, to say \u201cGood Morning\u201d to EVERYONE.<\/p>\n

I believe that a true leader sets the tone for the entire business. A leader acknowledges their team. And, above all, a leader acts like a grown-up, regardless of how caffeine or sleep deprived they might be.<\/p>\n

I know a lot of people who own franchises. I don\u2019t know as many who are leaders in their franchise.<\/p>\n

Knowing the difference between franchise leadership and ownership can help you motivate your employees, win the respect of your clients, and ultimately grow your business and profitability.<\/p>\n

 <\/p>\n

Owning your franchise business vs leading your franchise business<\/strong><\/h2>\n

 <\/p>\n

A franchise owner is just that: the person who owns the franchise.<\/p>\n

They bought the franchise, they finance it, they hire people, they pay the bills, and they may bring in the customers and clients or do other work that directly contributes to the franchise\u2019s bottom line.<\/p>\n

But just taking care of the day-to-day business doesn\u2019t make someone a leader. If you really want to make an impact on your community, on your bottom line, and with your clients, you need to lead your franchise for it to become better.<\/p>\n

Here are some characteristics that transform franchise owners into franchise leaders:<\/p>\n

 <\/p>\n

Vision<\/strong><\/h2>\n

You need to have a clear vision for your franchise that you can easily articulate to your team members so that they, in turn, can understand their role in helping to achieve that vision.<\/p>\n

Everyone needs to be reading the same book, and the leader needs to pick the page.<\/p>\n

 <\/p>\n

Motivation<\/strong><\/h2>\n

Leaders don\u2019t tell people what to do; they motivate them to want to do it.<\/p>\n

Your employees need more than a to-do list; they need to be inspired and empowered to think independently and creatively about how they do their work.<\/p>\n

It\u2019s the leader\u2019s job to make sure they understand what is expected of them and what they can expect in return.<\/p>\n

The leader makes sure everyone stays engaged with the vision.<\/p>\n

 <\/p>\n

Passion<\/strong><\/h2>\n

The leader needs to be the most passionate of brand ambassadors — what your franchise does, who you do it for, and how you\u2019re doing it.<\/p>\n

The leader needs to demonstrate to their team, their clients, and their community that they believe in the vision and the people it serves. \u00a0<\/p>\n

Mediocrity just doesn\u2019t exist in a leader\u2019s world.<\/p>\n

 <\/p>\n

Connect With Your Team<\/strong><\/h2>\n

A leader needs to understand their team as well as they understand the people they serve.<\/p>\n

Take the time to get to know everyone, ask your people about their lives, share information about yourself. Do whatever needs to be done to foster a close, we\u2019re-in-this-together kind of environment.<\/p>\n

When people know you value them, the results are impressive — intense loyalty, true camaraderie, a commitment to excellent work, and more satisfaction and happiness.<\/p>\n

 <\/p>\n

Invite Input<\/strong><\/h2>\n

Leaders welcome input, embrace change, and are open to new ideas. Leading is about moving forward, and you can\u2019t move forward if you\u2019re stuck in a rut.<\/p>\n

Invite innovative solutions and input to help problem solve.<\/p>\n

Involving your team to collaborate with you develops their potential, expresses your confidence in their abilities, and sets an expectation for even better work.<\/p>\n

The result is a win for your team, your clients, and most importantly, your franchise.<\/p>\n

 <\/p>\n

I’d love to hear from you…<\/h2>\n

What\u2019s one insight or key takeaway you got from this article?<\/p>\n

Share as much detail as you can. Your insights may be just what someone else needs to have a major breakthrough.<\/p>\n

Important: please share your thoughts and ideas directly in the comments. Links to other posts, videos, etc. may be removed.<\/p>\n

Thank you so much for reading, sharing, and commenting. It matters, and it makes more of a difference than you know.<\/p>\n

If you have any questions at all, please post them in the comments or send them to me at Todd@TheFranchiseConsultingCompany.com<\/a>. I’m more than happy to help if I can.<\/p>\n

And, if you aren’t already a “Franchise Pro Insider,” what are you waiting for? Sign up below to receive weekly updates and franchise industry news that will help you find the perfect franchise for you!<\/p>\n

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Ready To Schedule Your FREE Consult With Todd?<\/h2>\n

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About Anthony<\/h1>\n

Business CoacH<\/h3>\n

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Contact Todd Today<\/h2>\n

Phone<\/h4>\n

(866)-934-7176<\/p>\n

Email<\/h4>\n

todd@thefranchiseconsultingcompany.com<\/a><\/u><\/p>\n

Address<\/h4>\n

130 Shore Road, Suite 133, Port Washington, NY 11050-2205<\/p>\n

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Franchise Ownership vs Franchise Leadership   I used to work in an office where the owner would arrive at 7:55 am on the dot every single morning. He would walk past everyone without saying a single word and disappear into his private \u201cboss cave\u201d not be seen or heard from until he needed something from […]<\/p>\n","protected":false},"author":1,"featured_media":616,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"

Franchising Trends For Q3 2019<\/h2>

Hard to believe that we're heading into the third quarter of 2019 in just a few days. It's been a good year\u00a0 - a very good year - for franchises. And, if you've been considering opening up your own business - without the intense start-up headache phase, it's the perfect time to start exploring what's involved in purchasing a franchise.<\/p>

The franchising model works this way \u2013 you (the franchisee) buy the rights to market and distribute the products and services of another company (the franchisor) and to use its business name.<\/p>

Since you're \"borrowing\" another company's proven business model, brand recognition, and reputation, franchising can be a safer option for starting a new business.<\/p>

So, let's take a look at a few things you need to consider before you invest your hard earned money buying a franchise...<\/p>

  1. Is There Market Demand For Your Products And Services?<\/h2><\/li><\/ol>

    Do you already have an idea of the kinds of products and services you'd like to offer? Awesome!<\/p>

    Do you know if those products and services are in demand where you want to open your business? The only way to answer that question is through market research and hard data. What sells well in other areas of the country may not be well-received locally.<\/p>

    Are you a BIG thinker? Are you thinking about the possibility of branching out to owning multiple outlets in the future? Then, you need to assess the potential for that as well.<\/p>

    1. How Good Is Their Industry Reputation and Track Record?<\/h3><\/li><\/ol>

      Does the company offering the franchise have a proven track record of successfully franchising their business? Just because a company is offering franchising opportunities doesn't mean they are a good franchisor.<\/p>

      It's imperative that you do your due diligence. You should speak to current franchisees to get their perspective on the business - the good, the not-so-good, and the flat out ugly. A good question to ask is, \"If you could do this all over again, would you have picked this company to be your business partner?\" Be sure to listen to the different responses you get. If something negative is repeated often enough, you can be sure that it's a red flag.<\/p>

      1. What Does Your Investment Buy You?<\/h3><\/li><\/ol>

        Franchise fees represent a considerable portion of your investment - that number can range from a few thousand dollars to several million. Those fees typically cover training, equipment, and licensing rights.<\/p>

        You need to understand what the franchisor will be providing you for your investment. You need to carefully evaluate the time it will take for you to earn your upfront costs back to determine if the franchise you are considering is a sound investment.<\/p>

        1. What's The Competition Like?<\/h2><\/li><\/ol>

          Depending on how well-known the franchise is, there may already be lots of franchisees operating in the same area you want to open shop. And, depending on what your product or service is, there could be a lot of other rival companies.<\/p>

          Some competition is a good thing. Too much competition means the market could be over-saturated. That is not good for business.<\/p>

          Product and service offerings are a STRATEGIC business decision that you need to consider carefully. If you have a lot of competition, it will be much harder (and more expensive) for you to establish yourself.<\/p>

          If your products and services are unique, then competition will not be an issue. However, educating the public and creating market demand might be.<\/p>

          1. How Much Training Do You Need?<\/h2><\/li><\/ol>

            I've found that one of the significant advantages of franchising is the training and support offered to franchisees.<\/p>

            If you don\u2019t have a lot of business and operational experience, I highly recommend choosing a franchise that offers substantial training and support to ensure you get things started the right way. Some franchisors even provide on-going support after your franchise is up and running.<\/p>

            Statistics show that having the proper guidance and training from the start dramatically increases the chances of your franchise being successful.<\/p>

            1. Do You Have An Issue With Rules and Regulations?<\/h2><\/li><\/ol>

              \u00a0<\/p>

              It's not uncommon for franchisors to impose specific rules and regulations on how their franchises are to be run.<\/p>

              They usually require franchisees to follow specific guidelines and standards which can encompass things such as product offerings, prices, operational hours, store design, and other things.<\/p>

              While you may be the boss, the franchisor generally has the majority of control. If you\u2019re not comfortable in a situation like this, then running a franchise may not be what you\u2019re looking for.<\/p>

              As I mentioned earlier, 2019 is shaping up to be a VERY good year. The competition for new franchisees has never been greater.<\/p>

              Franchisors are finding new and more innovative ways to craft different offerings to attract new franchisees who normally would not consider investing in a franchise.<\/p>

              It's a franchise buyer's market. And, it's up to you to seek out and invest in a strong brand with solid business fundamentals and high growth potential.<\/p>

              Look for a franchisor who is focused on doing everything they can to help you succeed. It's smart business on their end. Your success will fuel their growth and ultimately their enterprise value.<\/p>

              The marketplace will always reward business owners who can carry a brand forward, build sales, profitability, and create exceptional value based on the strength of their experience.<\/p>

              I'd love to hear from you now.<\/p>

              What\u2019s one insight or key takeaway you got from this article?<\/p>

              Share as much detail as you can. Your insights may be just what someone else needs to have a major breakthrough.<\/p>

              Important: please share your thoughts and ideas directly in the comments. Links to other posts, videos, etc. may be removed.<\/p>

              Thank you so much for reading, sharing, and commenting. It matters, and it makes more of a difference than you know.<\/p>

              If you have any questions at all, please post them in the comments or send them to me at Todd@TheFranchiseConsultingCompany.com. I'm more than happy to help if I can.<\/p>

              And, if you aren't already a \"Franchise Pro Insider,\" what are you waiting for? Sign up below to receive weekly updates and franchise industry news that will help you find the perfect franchise for you!<\/p>","_et_gb_content_width":"","om_disable_all_campaigns":false,"footnotes":""},"categories":[11,9],"tags":[],"yoast_head":"\nFranchise Ownership vs Franchise Leadership - Todd Weiss Franchise Consulting<\/title>\n<meta name=\"description\" content=\"Knowing the difference between franchise leadership and ownership can help you motivate your employees, win the respect of your clients & be more profitable\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.toddweissfranchisepro.com\/franchise-ownership-franchise-leadership\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Franchise Ownership vs Franchise Leadership - Todd Weiss Franchise Consulting\" \/>\n<meta property=\"og:description\" content=\"Knowing the difference between franchise leadership and ownership can help you motivate your employees, win the respect of your clients & be more profitable\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.toddweissfranchisepro.com\/franchise-ownership-franchise-leadership\/\" \/>\n<meta property=\"og:site_name\" content=\"Todd Weiss Franchise Consulting\" \/>\n<meta property=\"article:published_time\" content=\"2019-07-17T16:05:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-07-17T16:06:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.toddweissfranchisepro.com\/wp-content\/uploads\/2019\/07\/Franchise-Ownership-vs-Franchise-Leadership-Todd-Weiss-CFA-.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Todd Weiss, CFA\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Weiss, CFA\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"18 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.toddweissfranchisepro.com\/franchise-ownership-franchise-leadership\/\",\"url\":\"https:\/\/www.toddweissfranchisepro.com\/franchise-ownership-franchise-leadership\/\",\"name\":\"Franchise Ownership vs Franchise Leadership - 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