As a new business owner, have you ever had times when meeting the demands of running your store felt like being on a runaway train and you just wanted to jump off? I sure have and I can tell you from experience that those moments are precisely when you have to knuckle down, roll up your sleeves, get in there, and do the work. The sooner you can get control of your business the sooner you’ll get the results you’re looking for.
One of the common mistakes, made by new franchisees, is…
to hire a manager from the start and delegate too much responsibility to that manager too soon. Not only does this overwhelm the manager, but it keeps the owner from developing the skills and experience he/she needs to grow a profitable business. Owners, who remain too far removed from daily operations and weekly reporting responsibility, often have trouble staying in compliance, increasing sales, and managing costs. High turnover and runaway expenses are leading indicators of a problem that, if left unsolved, can have a negative impact on the brand and, ultimately, bankrupt a business.
Fortunately, fixing the problem isn’t complicated.
Step one: Get in the store and start serving customers. Learn your business from the ground up and experience what your entry level employees go through each day.
Step two: Begin making the work schedule, conducting inventory, and preparing food orders with the manager. Not only will you learn more about the business, but you’ll gain valuable insight into the level of proficiency and decision making ability of your manager.
Step three: Learn to evaluate and interpret sales and inventory data to help you improve service, market more effectively and control costs so you can maximize your profit. Transmission of the Weekly Sales and Inventory Report should not occur without being checked and approved by you.
Follow these three steps and you’ll be well on your way to achieving greater success.
For additional help with your business, Contact me.
Strive to be More!
Coach Morse
