When you picture a franchise owner, what comes to mind? Someone kicking back and watching the money roll in?
While that may be the dream, the reality is quite different – especially for franchise owner-operators. These hands-on franchisees wear many hats and juggle a variety of responsibilities to keep their businesses running smoothly. Running a business, let’s not sugar-coat it, is hard work. Someone has to put the hours in to make it successful, whether that is you or employees.
So, what does a typical day look like for a franchise owner-operator? Let’s break it down.
Operations Management: Keeping the Ship Afloat
A franchise owner-operator typically works full-time in the business, often putting in more than 40 hours a week during the launch phase to ensure a successful start.
One of their primary roles is operations management: making sure everything runs smoothly on a day-to-day basis. This includes handling any crises that arise, whether it’s a broken piece of equipment, a disgruntled customer, or a staff conflict.
Marketing: Spreading the Word and Tracking Results
At a minimum, an owner-operator approves marketing strategies and tactics and ensures they’re executed in a timely manner.
They monitor metrics to gauge effectiveness and suggest or implement changes if a particular approach isn’t yielding results.
Depending on their skill set, they may handle some or all of the marketing themselves, from managing social media and creating promotional materials to setting up the website and securing media coverage.
Sales: Setting Goals and Closing Deals
In most cases, an owner-operator also takes charge of sales management. This involves setting revenue targets, tracking sales to ensure they’re on pace, and adjusting course if needed.
It may also include training staff on sales techniques, identifying what’s not working, and refining the sales process.
Particularly in service-based businesses, a franchise owner-operator may also serve as the lead salesperson, attending sales meetings, preparing quotes, and networking with potential sales partners.
Financial and Vendor Management: Minding the Bottom Line
While an owner-operator might hire an accountant for tax prep or compliance, they typically handle the day-to-day business finances themselves.
This includes daily tasks like checking revenue totals, making bank deposits and withdrawals, bookkeeping, and managing point-of-sale and/or ecommerce systems.
They also oversee payroll and select, manage, and pay vendors and contractors, such as suppliers, builders, HVAC technicians, equipment servicers, and more.
Staffing and HR: Building and Leading the Team
Owner-operators are in charge of hiring, firing, and everything in between. When a franchisee works full-time in the business, this usually reduces staffing needs. In the early stages, an owner-operator may be the sole staff member or work with just one other person.
However, as the business’s finances allow, an owner-operator should generally hire at least one manager. This person can cover shifts the franchisee doesn’t work (such as nights or weekends for businesses with extended hours) or compensate for gaps in the franchisee’s skill set.
For example, a franchisee with a strong sales background will likely benefit from hiring an operations manager. While an owner-operator will still need to be involved in all aspects of the business, they can lighten their load in the manager’s area of expertise.
Some home-based franchises are designed for a single employee – the franchisee. But most will have 2-6 additional staff once fully operational. A brick-and-mortar franchise with standard business hours will be similar. For those with extended hours (like most retail or food-service franchises), the owner-operator may need to hire a second or even third shift of employees.
The Bottom Line: It's a Juggling Act
Being a franchise owner-operator is not for the faint of heart. It requires a willingness to roll up your sleeves, a diverse skill set, and a knack for spinning multiple plates.
But for those who thrive on variety, enjoy being deeply involved in their business, and find satisfaction in seeing the direct results of their efforts, it can be an incredibly rewarding path.
Ready To Explore Franchising? Let’s Talk!
Mack and Sharon Strange are on a mission as Franchise Consultants to help others go from “Start” to “Success” when it comes to franchise ownership.
If you’re curious about exploring franchising as a career pivot, investment vehicle or lucrative side hustle, let’s talk!
Frequently asked questions (FAQs)
Q: How do I book a call?
A: You can book a free, no obligation call with Mack here and/or a free call with Sharon here.
Q: How much do your services cost?
A: As Franchise Consultants, there’s no fee for our services. We’re compensated by franchisors only if and when you decide to move forward with (and are approved for) franchise ownership.
Q: What do you do?
A: Our role is to serve as a trusted guide and educational resource.
Q: Where can I learn more?
A: You can learn more about our story and how YOU can follow in our footsteps via the Franchise Together Podcast.
We look forward to connecting with you soon!