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CATEGORIES: Business, Franchising
If you’re contemplating investing in a franchise, one thing you should consider is whether you have the skills required to become a business owner. Although you don’t need a lot of business experience because most franchisors will provide thorough training, there are a number of skills that are extremely helpful, especially if you’re investing in a complex business.
Now, if you’re wondering what it takes to be a top franchisee in a system that has complexities, Andy Myers is here to share his insights. He is the President of AMMA Development Group and a multi-unit franchise owner at Restore Hyper Wellness and goGLOW. Early in both brands, Andy and his team discovered that they like to be pioneers in developing systems and success alongside the franchisor.
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Join Erik and Andy as they discuss how to be a successful franchisee, what to look for in brands and the founders, the importance of having trusted advisors, and the lessons learned from partnering with emerging brands. Andy also shares three valuable things every aspiring franchisee should know.
“People should love it when they're faced with something that they're not sure how to do. They should lean into that because that's one more step toward success.” - Andy Ayers
In This Episode:
- How Andy got into franchising
- How do you become a successful franchisee?
- How scary is it to leave the security of a regular paycheck?
- Andy's criteria for choosing the brands to invest in
- How does Front Street Equity Partners help franchisees succeed?
- Lessons learned from partnering with emerging brands
- How to find trusted advisors
- Do you have Rembrandts in the attic?
- The main roles you need in your organization and why
- What is it about the goGLOW founder that made Andy want to partner with her?
- Andy's top advice to everyone listening
Resources:
🌐 Consult with Erik: https://form.jotform.com/222685728939070
🌐 Want to buy a franchise? Connect with Erik here - https://forms.gle/n4JedEuU5p7asE617
🌐 Want to franchise your business? Connect with Erik here - https://forms.gle/n4JedEuU5p7asE617
🌐 Franchisees and franchisors find proven tactics and strategies to scale YOUR businesses https://scalablefranchise.com/
🌐 Scaling Up by Verne Harnish - https://www.amazon.com/Scaling-Up-Mastering-Rockefeller-Habits/dp/0986019593
Connect with Andy Ayers:
Connect with Erik Van Horn:
🌐 Website
Erik Van Horn is a franchising specialist and expert in multi-unit, semi-absentee franchise business ownership. From entrepreneur to regional developer and investor to consultant, Erik has worn many hats over the last two decades, which has provided him unique insight into complex aspects of the industry. If you're a franchisee, a franchisor, or one aspiring to be, subscribe to the Franchise Secrets channel and visit www.FranchiseSecrets.com for even more tactical and practical tools to help you buy, grow, and sell franchises like an expert.
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