Among the things entrepreneurs think about when they consider investing in a franchise is what kind of business owner they want to be – absentee, semi-absentee or owner-operator.
Absentee owners, just as the name implies, are rarely present at their franchise business. They often view ownership primarily as an investment. Because they’re not present, they hire a manager to handle day-to-day operations, including hiring employees. Absentee owners run the risk of employing people who may not be as passionately invested in the success of the business as he or she is.
Semi-absentee owners are a bit more involved in the business than absentee owners, but still typically rely on a manager to run day-to-day operations. Like the absentee owner, the semi-absentee owner usually has other investments that divide their time as they seek to diversify their income.
At SpeedPro, we prefer the owner-operator model. Being an owner-operator of a franchise provides in-depth education on the business concept. You are present onsite most of the time and responsible for the day-to-day operations of the business. You take a hands-on approach and work alongside your store manager and employees. Owner-operators have the most power over their business’s growth because they are deeply involved.
Because owner-operators work at their franchises, they become experts at running a business and are familiar with precisely how their own business operates. That in-depth knowledge will help a franchisee scale their business because they:
- Can ascertain first-hand the quality of customer service provided
- Observe whether employees are following the playbook for operating the business
- Maintain quality control of products and services delivered to customers
The SpeedPro business model was made for owner-operators. It’s focused on growing a single unit at a time, helping franchisees grow with additional equipment and personnel instead of opening multiple locations in a short amount of time. SpeedPro franchise owner-operators start with two employees, so oversight is relatively easy compared to many other franchise concepts. The average SpeedPro studio has two to four employees.
Being an owner-operator gives you total control over who is hired. Absentee and semi-absentee owners typically hire a manager, who is then in charge of hiring and overseeing employees. Assuming absentee and semi-absentee owners hire managers with as much passion for the business and a drive to succeed, the owner is still one step removed from bringing on the right people.
But, because owner-operators do the hiring, they can bring on board exactly who they want working for them. As the business owner, you are most invested and can select the candidates you deem to be good for business, which will help lead to growth. SpeedPro franchisees possess an incredible work ethic and a high degree of integrity, and therefore have the power to hire like-minded individuals who also emphasize customer service and quality workmanship.
Overseeing day-to-day operations as an owner-operator also allows you to have more control over costs. You can observe exactly how much is being spent in what areas, and come up with cost-cutting measures, if necessary. You can implement efficiencies when you witness time-wasting practices first hand. This will increase workflow and elevate your bottom line. As an absentee or semi-absentee owner, you might not be aware of inefficiencies or bad work habits. You will struggle with figuring out the source of the loss of revenue or not growing how you would like.
As a SpeedPro owner-operator, you will have the support of other owner-operators in the network. Because every SpeedPro franchisee is deeply invested in their business, the camaraderie and owner bonds are strong. Franchisees are happy to share best practices, anecdotes and tips to guide you toward growing your own SpeedPro.
To learn more about what sets SpeedPro apart from other franchise opportunities, visit our website.