womem in f ra nchising
Gloria Plaisted, Franchisee, President & CEO
Still Loving the Lifestyle “When you start a business of your own, you will do a lot for very little. When and if you achieve great success, you will do a little for a lot.” That quote, from a pioneer in franchising, kept Gloria focused through her clumsy, exhausting, and, ‘Tell me why I’m doing this?’ moments and years. Soon after the couple’s first store and first brand, they knew that the number one was indeed a lonely number and they hungered for more growth. They hungered to add more to their plates, “I continue to hold positions of leadership in the brands and communities I love and serve and I have more time now to coach and raise up new leaders in our industry. But hands down, my sweet spot is working smack dab in the center of all the action in the dining room with guests!” “Lessons are a good teacher. We learn them from the chaos that repeats itself and then we resign ourselves to fixing the cause. I would have to say that learning the art of delegating came hard to me,” confessed Gloria. Another lesson that took her too long to realize, was the
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dramatic increase in her same store sales once the couple bought into the importance of reinvesting back into our stores. Finally, “What better lesson could I have learnt than one that propelled me to make a positive difference in the life of someone that God puts in my midst.” Gloria believes the ROI in the investment of people is beyond measure. “It’s been said that success is not counted by how high you have climbed, but by how many people you brought with you.”
Research, consult Researching and consulting is crucial to getting off to a realistic start in any franchise, according to Gloria. “What draws most people to the franchising model is the built-in security. However, it’s foolhardy of any prospective franchisee to think that the so-called, ‘safety net’ the franchisor provides is a guarantee of success. I’ve seen wild success under that safety net as well as wild failure. In franchising, startup costs can be high, profits aren’t guaranteed, and your independence – like it or not – is limited. Mavericks need not apply.
The most important component of your due-diligence is speaking to existing franchisees to see if they have a happy marriage with their franchisor. If possible, shadow for a time alongside of an existing franchisee. When you are gearing up to invest, don’t underestimate financial backup in case of shortfalls. One timetested truth is, regardless of the economy, stay focused on expenses, fundamentals and bottom-line numbers,” Gloria said. With over 35 years of franchising experience, Gloria Plaisted is a proven, passionate multi-unit franchisee and President/CEO of Son Group, LLC. She is a popular writer/speaker within in the franchising industry. Gloria works hard at having more fun in the franchising world than the average person should. For More Information: Email: LinkedIn: Twitter: Web:
gplaisted@gmail.com www.linkedin.com/in/ gloriaplaisted www.twitter.com/ faithworkbreak www.brandchise.com.