success tips advice for franchisee owners

A No Frills Guide To Make It - For New Franchise & Business Owners Alike

in no certain order of importance...

  • Always be on the lookout for workman’s comp potential claims - Keep an eye out for areas where people can hurt themselves actively all the time and avoid having any situations where risk areas are present. People will get hurt otherwise or they will take advantage of these risks to their benefit.
  • Never ask an employee to do a task that puts them in harm's way that's outside the scope of their daily work.
  • Do not allow any employee to “work off the clock” it will be thrown in your face when least expected and trust us, you have to actively police this and not allow anyone to ever work off the clock, they will try.
  • The slightest hint of someone discriminating or sexually harrassing someone should immediately be delt with by launching a thorough investigation and terminated upon the discovery of anything that points to their guilt. Zero tolerance is best here.
  • Be fair with your staff, compensate them for what they're worth, and let them know they're appreciated but do not spoil them excessively or they will expect more and more and it will never end. This could even result in employees quitting for lessor compensating jobs. (Example - Anthony quits because his xmas bonus was not on par with what he expected but the next place he goes may not even offer xmas bonuses or even the hourly they were paid by your company)
  • Do everything by the books all the time. Failure to do so will put your business at risk eventually. Do not cut corners in any fashion or you will suffer and eventually risk your business and all your hard work that goes along with it.
  • Do not put anything past anyone, unfortunately you cannot trust anyone 100% besides yourself, double check even the most loyal employee sometimes to be safe.
  • Do not mix family and business it never works
  • Your job is to protect the brand and business. Everything that you do daily should somehow be attributed to this ultimate goal. 
  • The slightest sign of someone caught using drugs on work premises prior to or during work or caught stealing should result in a thorough investigation and if facts say they are guilty terminate the employee immediately.
  • Never underestimate an employee's creativity to exploit or even blackmail you.
  • Document in writing what every employee is paid and corresponding raises and have them initial the document showing their agreement with the amount.
  • If you aren't sure of legal or financial matters ask a professional - don’t skimp on legal counsel or accounting firms
  • When considering your staff, view them as your peers, speak to them with respect, clarity, and from the heart. Never forget they ARE your business. Without them you are just an unemployed person with an idea.
  • Pay your taxes and keep them current - Pre-determine your tax rates yearly at the beginning of the year and put said taxes aside each month through the year to avoid underpayment or having to pay large lump sums at year's end.
  • Carry all required insurances all the time and do not let them default
  • If you are upset about someone or something, sleep on it before addressing it. Never lose your cool in front of staff or they will respect you less. A good leader is always cool and calm and presents with confidence and self control.
  • If you don’t know something, pretend in public and question a reliable source in private. Then correct yourself as needed humbly when the timing is appropriate but the best thing to do is avoid speaking on things you aren't clear on or sure of in the first place.
  • Leverage debt only when paying in full eats into operating capital.
  • Your business is never secure, always have an exit plan and 6 months worth of operating capital.
  • Always have your business prepared for your personal demise. Your family, staff, and their family relies on your business. Don’t leave everyone out in the cold.
  • Ask yourself weekly - Is the focus of what I'm working on the majority of this week going to benefit my business’s success the most a year from now, five years from now? If the answer is no, work on delegating or outsourcing that task so you can focus on what will.
  • Value your time more than any asset or task. It’s the most valuable of your possessions.
  • Be selective on who you put behind the wheel. If they have any accidents on their record they will have accidents in your truck
  • End fraternization before it begins you will wish you had if you allow it to continue to enter the workplace.
  • Cultivate and nurture your relationships with your staff members it is what builds loyalty
  • 99.9% of your company purchases and expenditures should be write- offs
  • Protect your profit percentages or they will eventually disappear
  • If you have a fleet of vehicles Inventory them for damages daily and hold your staff accountable
  • Store large sums of money in good safes properly installed. Limit hands in the safe to two for accountability.
  • Use cameras - when the cats away the mice will play and that will ultimately cost you
  • If you have a ring leader, unionism rep type of gossip queen working for you texting and chatting all your employees up via a social media or text line back channel. Lose them. They will create a sounding board for tired or frustrated employees having a bad day and complaining and will cause more problems than you would ever expect.
  • Maintain a knowledge graph of key employees and the knowledge they bring to your business - have them pass that knowledge on to at least one other person asap or you may find yourself in some trouble if something happens to that one employee
  • Have an SEO build your website
  • Focus on fb and google ads - target your customers as much as possible to keep costs in check
  • Don't rush training new staff
  • Trademark and license fast so you can build your brand with confidence
  • Stand out in your market whether it be price, advertising approach, or service - you have to be different to find a competitive edge
  • Murphy's law is real - plan for it
  • Never alienate a type of customer, why limit your potential?
  • Keep a notepad to do list prioritize on your phone and set alarms on calendar for important goings on