Julio Ramirez 3rd Annual Latino Franchise Symposium Dallas, TX July 20, 2017
Be Passionate about your business, have realistic expectations and plan on a long-‐term outlook
Assessment Assess yourself and your team’s abilities » Identify positives and strengths of team » Look for weakness and “blind spots” » Solve for deficiencies » Set key metric and review regularly (“What gets measured gets done”)
Have Patience » Multi-‐unit ownership is for long-‐term » You may take one step back financially and in terms of time, before you take 3 steps forward in the next few years » Anticipate competitors and prepare for them » Be careful what you ask for
Assess your Franchisor » Does Franchisor offer incentives/accommodations for people buying multiple units/larger area(s) » Do they have systems in place (POS, APPS., On-‐line programs) » Do they offer additional training? » Does Franchisor have advisory committees?
Find a Support System » Are there mentoring opportunities for advice and support with other operators? » Try to schedule time and learn from “Best Operators” » Will they let you actively participate in Franchisee Committees (Marketing, OPS Council, Cost Optimization)
Build a Strong Team » » » » »
Recruit top talent / find superstars Build a bench of potential managers “Paint the Vision” of your plans for all employees Stay lean until close to capacity Complete your deficiencies with talent
Don’t Expand to Quickly » » » »
Operate at high level before you go to next unit Sustainable momentum and culture are key Create environment where you master “over-‐delivery” Provide experience where customers won’t even think of going elsewhere!
Source: Entrepreneur Magazine (June, 2013)