30/07/2023
What type of franchisee will you be?
I was a complete Hybrid, and it was tough going..
Torn between corporate duties and a 7 day a week Retail Food Franchise. Exceptional Time management was paramount, but my corporate role always took priority so my small business suffered.
That was until I learnt the art and science that I apply with Bulletproof. Factoring things like family involvement, capacity, business acumen and emergency protocols.
If you are looking to purchase a Franchise though, it is vital to understand the limitations and expectations involved before entering.
Here are the 3 main types of franchisees:
1. Completely Hands-On (The Master Chef):
In this role, I'm like the master chef of my own kitchen, actively involved in every aspect of the franchise.
I oversee the menu, food preparation, customer service, and day-to-day operations.
The benefit of being completely hands-on is that I have full control over the quality of the food and service, and I can personally connect with customers, building strong relationships.
However, the challenge is the demanding workload and time commitment. I need to be present at the restaurant most of the time, which might affect my work-life balance.
2. Completely Hands-Off (The Investor):
As a completely hands-off franchisee, I take on the role of an investor, much like a restaurant's silent partner.
I hire competent managers and staff to run the restaurant while I focus on other ventures. The benefit is that I can enjoy passive income and diversify my investments.
However, the challenge lies in finding trustworthy and capable managers who can uphold the brand's standards without direct supervision. There's also a risk of feeling disconnected from the business.
3. Hybrid (The Sous Chef Manager):
In this role, I'm a hybrid franchisee, acting as both a hands-on manager and a delegator.
I actively participate in key decisions, ensure the kitchen runs smoothly, and manage staff, but I also empower my team to handle daily tasks. The benefit is that I strike a balance between control and flexibility.
I can step back when needed, allowing my staff to shine, while still maintaining an active role.