Understanding the Role of a Franchise Owner

Franchise Ownership

Who do you think of, when you think franchise owner? The truth is many of us don’t think of a franchise owner when we look at the world around us. When we visit our nearby McDonalds, Family Dollar, or Motel 6 we think of the corporation, not the people who own and operate these essential businesses. Who is a franchise owner? A franchise owner or franchisee is a person that buys a business that is part of a chain such as Big O Tires, McDonald’s, Super 8, or Kiddie Academy. These chain store reach across all types of retail such as automotive, food, travel and tourism, as well as education and several other categories. Most of the places that you visit frequently are most likely ran by a franchise owner. The first step to buying a franchise is researching as much as you can about the franchise you want to invest in. The second step to buying a franchise is to negotiate with and observe how the franchisor operates. Make in an investment and begin what can be a long contract with the franchisor.

Job Description The job description of a franchise owner is very similar to a business owner. Both are entrepreneurs owning and running a business being responsible for accounting, personnel issues, equipment issues that are happening daily, weekly or monthly. As well public relations, knowledge

Darrell and his wife made the chose to liquidate everything they could, 401ks, investment accounts, and even refinanced their home, took out loans and bought one of the smaller failing locations in Tooele, UT. When they bought the location he mentioned that he, “made a list of the things they could keep because the list of things that needed replaced was to large to tackle at first.” He went on to say that, “It took them four years to return the income they had as supervisors and two more year to make their investment