TL;DR
Multi-unit franchisees share their insights and lessons learned from their experiences, including the best business decisions they've made and the hardest lessons they've learned. The franchisees, including Derek Tate and Lee Kleiner, discuss the importance of support from their franchisors and the challenges of working with friends or partners.
We talk to successful multi-unit operators regularly here at Franchise Update Media. These busy on-the-go people share great insight and wisdom with us through our profile stories in Multi-Unit Franchisee magazine. Here, from our archives, are some insightful responses from some of these franchisees.
What was the best business decision you've made? Becoming a franchisee. The support our franchisor provides and the greater Soccer Shots network has been incredible in helping us get started.
I've been an entrepreneur for 5 years, but this is the first time I've felt this much support, and it's really starting to show. Moving forward, we've set some high goals, and we're focused on executing our plan every day. **What is the hardest lesson you've learned?
** You can't take everything and everyone with you. There have been some great opportunities and people I've worked with, but you can't always move someone forward who doesn't want to keep going. As an entrepreneur, I'm always ready to go a little further, but you need to surround yourself with people who will build that mentality up with support.
Derek Tate, multi-unit franchisee of Soccer Shots What was the best business decision you've made? Buying out my business partner in 2012. This purchase allowed me to become the person I am today, and at the same time help others along the way.
What is the hardest lesson you've learned? Early in my career, a veteran Dairy Queen executive was watching me work as we had a meeting that day. As we were sitting he said, "Your sales would be better, but you work like a player/coach and you need to spend your time coaching your team."
The sports analogy was very relatable for me and I have always kept that in the back of my mind. Lee Kleiner, multi-unit franchisee of Dairy Queen, Which Wich, and Garbanzo Mediterranean Fresh What was the first turning point in your career: While working for Fortune 500 companies, I realized that I wanted to diversify my experiences and build a business on my own. I was lucky enough to have been introduced to the Five Guys brand and family who gave us the opportunity to do so while still working my day job.
What was the best business decision you've made? Betting on myself and Julie to develop a business not knowing all of the challenges that lay ahead of us. This simple belief in ourselves gave us the determination and willingness to bet all of our life savings on a franchise business.
What is the hardest lesson you've learned? Early on, I brought a friend into the business who did not have the same focus, determination, or financial investment into the business, and it did not end well. Working with friends can be very challenging and detrimental to the business.
In this story
This story was originally published by Multi-Unit Franchisee in Franchising.com on April 4, 2020. Burnaze summarizes and links to the original reporting.
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