7 December 2023

Discover the Key to Going from Employee to Franchise Owner!

By Ronald Smith

Are you ready to unlock the secrets of transitioning from being an employee to becoming a successful franchise owner? Well, you’re in the right place! Today, I’m going to reveal the essential tips that will help you make this exciting leap.

First things first, let’s talk about what it means to own a franchise. A franchise is like having your own business, but with a twist. Instead of starting from scratch, you buy into an established brand that already has a proven track record of success. It’s like being handed the keys to a well-oiled machine!

Now, why would you want to make this transition? Well, being a franchise owner comes with many perks. You have more control over your destiny and the freedom to make decisions that impact your business directly. Plus, you have the support and guidance of a trusted brand behind you every step of the way.

But how do you get from employee to owning your very own franchise? Here are the steps:

1. Do your research: Start by exploring different franchise opportunities. Look for industries that interest you and align with your skills and passions. Research the market and evaluate the potential for growth and profitability.

2. Seek guidance: Once you have a few options in mind, reach out to franchise consultants or experts who can help you navigate the process. They can provide valuable insights and help you make an informed decision.

3. Secure financing: Owning a franchise requires a financial investment. Explore your options for securing funding, such as loans or partnerships. Create a solid business plan that outlines your financial projections and strategies for success.

4. Dot the i’s and cross the t’s: Once you’ve chosen a franchise, it’s time to dot the i’s and cross the t’s. Read and understand the franchise agreement thoroughly. Seek legal advice if needed to ensure you’re making the right decision.

5. Get ready for launch: As you finalize the paperwork and prepare to open your franchise, take advantage of the training and support provided by the franchisor. Absorb as much knowledge as you can and get ready to hit the ground running.

Remember, transitioning from employee to franchise owner isn’t always easy, but it’s definitely worth it. With careful planning, research, and a can-do attitude, you can turn your dream of business ownership into a reality.

So, are you ready to take the leap? The world of franchise ownership is waiting for you. Get started on your journey today, and unlock the door to a bright and successful future!

Discover the Key to Going from Employee to Franchise Owner!

Did you know that there are almost 750,000 franchise businesses in the U.S? That’s a lot! They range from restaurants to clothing stores to different types of services. People from all walks of life are interested in owning a franchise.

You might think that you need to already own a business to get into the world of franchises, but that’s not true! Some franchisees actually start as employees in a franchise business.

Working as an employee in a franchise gives you a special advantage. You get to see what it takes to be in charge and run the show. Of course, not every employee is cut out to be a successful franchise owner. But being an employee still has its benefits.

What are the advantages that franchise employees have?

  • Here’s what you need to know about franchises:
  • There are two main roles in a franchise: the franchisor and the franchisee.
  • Let’s talk about the franchise systems and procedures.
  • And, of course, you need to be familiar with the brand.

When you buy a franchise, you don’t have to do as much research because you already know about the products and how the business works. You might not have as many questions about the ongoing fees you have to pay to the franchisor, like royalty fees, marketing fees, and advertising fees.

If you’ve worked in a franchise before, becoming a franchise owner will be easier for you. You already know how a franchised business works, especially the one you used to work for.

So, here’s the deal. If you wanna be a franchise owner, you gotta have the desire and the work ethic to make it happen. It’s no walk in the park, my friend. You gotta find the cash to cover the franchise fee and all the other costs that come with it. And let me tell ya, it’s on you to make sure that your business makes enough money to keep the lights on and the bills paid. It’s a big responsibility, and not everyone can handle it.

But hey, if you’re already an employee, you’re one step ahead. Your experience gives you an edge. That’s why places like Domino’s love turning their employees into franchise owners. They know that you’ve got what it takes. On their franchising webpage, they put it like this:

Domino’s has thrived for over 50 years thanks to its franchisees – independent business owners united by a shared vision and mission to become the top pizza company in the world. A big part of our success lies in our franchise business model, which primarily focuses on nurturing internal talent.

If you want to join the ranks of more than 95% of our franchise owners, take the path of operating or supervising our stores before investing in your own. By doing this, you’ll gain the necessary skills and knowledge to successfully run our business before owning it yourself. It’s all about preparation and learning to ensure your success as a franchise owner.

Not every franchisor prioritizes recruiting franchise owners from their own employees, but there are other inspiring stories of individuals who started as employees and eventually became franchise owners.

Now, let me tell you some success stories of people who made this exciting journey from employee to franchise owner.

In a recent interview with USamerica.US, I had the opportunity to chat with three franchisees from different parts of the United States. What makes their stories interesting is the fact that all three had previously worked for the companies they now own a franchise of. They generously shared their challenges, successes, and the lessons they learned along the way. Their insights are invaluable for anyone who is considering taking a similar leap into franchise ownership.

Meet Darrin Baker from Restoration 1

I had the pleasure of talking to Darrin Baker, the proud owner of a Restoration 1 franchise located in Phoenix, AZ. Restoration 1 specializes in providing top-notch water, mold, and fire damage cleanup and restoration services to homeowners. What’s fascinating is that their services cover the entire country! Before venturing into franchising, Darrin actually worked for Restoration 1 in Washington for several years. It was during this time that he received some encouragement to explore the world of franchising.

When it comes to entrepreneurship, I’ve always been interested, although the idea itself used to make me a little nervous. You know what they say, having a goal without a plan is like having a dream. And that’s exactly what it was for me – just a dream. I never really took the time to sit down and make a plan for what I wanted to achieve, other than knowing that I wanted to be a business owner.

Back when I was an employee, I would often think about what my next step would be. But it was always about climbing the corporate ladder within the company I worked for. It wasn’t until my boss brought up the idea of owning a franchise that the possibility really clicked for me. After having countless discussions with my wife, we finally made up our minds and decided to take the leap into business together.

Starting Fresh in a New State

I made a big move to a whole new state to become a franchise owner. It was definitely a huge challenge for me. But luckily, I already had a lot of experience working with the company, so I knew all the ins and outs of how things worked. That definitely helped a lot and made things go pretty smoothly.

You see, having that experience gave me a real advantage over other franchisees who didn’t have any prior knowledge. It was like I had been going through a working interview for years, which made the decision to move forward really easy for me.

But I want to make something clear: being a franchise owner isn’t just about having freedom and independence. It’s a lot of work. You have to genuinely care about the mission of the company and the people you work with. When you have that kind of commitment, being a franchise owner becomes so much more rewarding.

When it comes to starting a new business, I have some advice: Don’t do it just to be the boss. Instead, focus on helping others and making a difference. By keeping your priorities straight, you’ll find success comes more easily, and you won’t struggle as much with the long hours.

About Halle Wallace and 9Round

Let me introduce you to Halle Wallace, the owner of a 9Round Fitness location in Murfreesboro, TN. At her kickboxing and fitness studio, you’ll find high-energy workouts along with personal training and nutritional guidance for members. Halle’s journey with 9Round has included multiple roles: she started as a member, then became a trainer, and eventually became a franchisee.

When I was in college at the University of Alabama, studying Exercise and Sport Science, I joined 9Round during my senior year. And let me tell you, I instantly fell head over heels for the workouts, the trainers, and the incredible energy of the club. It was electrifying!

After graduating, I found myself clueless about what to do with my career. So, I decided to become a 9Round trainer to earn some money and gain experience while figuring out my next move. Let me tell you, being a 9Round trainer was not only a great way to make a living, but it was also immensely fulfilling and loads of fun!

I developed such a strong connection with my clients and became fully invested in their fitness journeys. Before I knew it, I started envisioning my future with 9Round in a more permanent capacity. I knew deep down that I wanted to turn this passion into my career. And guess what? In just a few months, the owners of the first 9Round location where I worked as a trainer saw my dedication and promoted me to be the manager of their second location!

Exploring the Business Side of Things

This whole thing showed me the business and development aspects of starting a club, making me realize that I CAN do this. The idea of being an entrepreneur hadn’t even crossed my mind before, especially at just 24 years old, and it was scary. I was getting ready to leave Alabama and move to Tennessee without a clear career path, but I didn’t want to leave 9Round. So, I decided to dig deep and learn everything I could about the brand and the franchise business as a whole.

All of that experience with 9Round gave me a lot of advantages when it came time to invest in my own business. I believe that anyone can succeed in this industry without prior experience as a trainer or member, but having that background definitely puts you ahead.

Attending Franchise Training Camp

I remember when I went to franchisee training camp, I met a bunch of owners who were part of 9Round but never actually trained. Some of them hadn’t even set foot in a 9Round before, and let me tell you, they had a tough time at camp. They struggled with the workouts, understanding the heart rate monitor program, and figuring out how vendor programs like ClubReady worked. Now, I’m not saying that these owners can’t run a successful 9Round, because I’ve seen many of them do it. But here’s the thing – having limited experience in this business, especially if you’ve never worked as a 9Round employee, puts prospective club owners at a disadvantage. It can make things a whole lot harder for them when they’re just starting out.

I love the freedom of being my own boss, but I won’t deny that owning a franchise is hard work. When I made the transition from being an employee to a franchisee, I knew I had to set a good example for my team. This often means putting in long hours.

I believe that no one will care more about my business and its success than me. In the beginning, I have to be there to lead by example, so my employees can see how things should be done. It’s important for them to understand my expectations, and they won’t if I’m never present.

Kari Carlson – Another 9Round Franchisee

Kari Carlson is also a franchise owner in Bettendorf, Iowa. Before becoming a franchisee, she was a member and trainer at the business, eventually working her way up to co-manager.

I’m excited to tell you why I chose to buy a 9Round franchise. You see, I’ve always had a passion for the brand and the amazing products they offer. But it wasn’t just that, as I learned more about the franchise, I became really impressed with the business model too. It’s something that many people think about at some point in their lives – becoming an entrepreneur. And for me, working at 9Round made that dream feel like a real possibility.

Not only did working at 9Round ignite that spark in me, but it also helped me smoothly transition into owning my very own franchise. It provided me with the experience and knowledge I needed to make the leap.

I remember when I first started working as an employee before becoming a 9Round franchise owner. It was like finding the key that unlocked the door to my success. Understanding the product, being able to sell it, and knowing all about the brand made the transition to ownership much easier. I could focus my efforts on running the business because I already believed in what I was offering to my customers.

This confidence has been crucial for my business journey. I highly recommend the employee-to-franchisee path to others. It’s not just about the logistics, though. What really matters is gaining a different perspective. Even if you’re not in the same position, any experience that allows you to see your business through the eyes of employees, members, or customers can be helpful along the way.