Take Your Business from Average to ExtraordinaryThe Wealthy Franchisee pulls concepts from cognitive behavioral therapy, brain science, interviews, and Scott Greenberg’s firsthand experience as a franchisee to help readers replicate the mental habits, tactics, and financial results of high-performing franchisees. As a franchising consultant, Scott Greenberg has helped franchise owners and franchisees improve their performance. Readers will learn how
Explore their own mental responses and become more self-awareBring out the best in employees and build superstar teamsDazzle customers and increase sales with emotionally satisfying experiencesOptimize the human elements of their operation so they can grow into a next-level enterprise and become wealthy
Wow this one surprised me at how good it is. Most business books after the first few chapter's you got the picture and can't always see it until the end. This one held my interest. I would highly recommend this if you work for a franchisee, if you are a franchise, or if you work for a franchisor. Hands down I would say it was probably the best book I've read about running a franchise business.
This should be required reading for all franchise owners. Until I owned one myself I didn’t understand how they differ from other businesses. You get the freedom of running things, but you still have a “boss” in the sense of having a system you need to follow. This book explains those constraints very well and gives great advice on rising above being adequate at it.
"wealthy" defined as 1) making money, 2) control of your time, 3) maximize quality of life. That resonated with me. Just more money is not what I want, I want more time for myself, time with friends, and with family. Great book to make you take a step back and revisit your approach to running your business and what to do to improve.
Scott Greenberg’s "The Wealthy Franchisee: Game-Changing Steps to Becoming a Thriving Franchise Superstar" is the result of a long-standing career as an author, in-demand speaker, and coach who boasts an impressive roster of past clients including McDonalds, Smoothie King, Great Clips, and RE/MAX, among others. You can feel the flavor of Greenberg’s public speaking engagements in the writing style he utilizes during this book. His steps have a systematic approach reflective of his successful run as a multi-unit franchise owner with Edible Arrangements during which he tallied several Manager of the Year and Customer Service awards from among over one thousand worldwide locations. It’s a fascinating book, if for no other reasons, because of what it reveals about the author’s mind.
There is much more to gain from this book, however. Franchisees will gain the most from a careful reading of this book but, frankly, with a little retrofitting you can apply these principles to a variety of situations in life. Much of this is attributable to what an individual prioritizes and Greenberg makes his clear early and continuously throughout "The Wealthy Franchisee". He structures the book in three parts and thirteen chapters embracing a straight-forward approach throughout the work. His ability to address a specific profession in comprehensible easy-to-follow language is a critical factor in the book’s ultimate success.
He gives himself ample space to examine the relevant aspects of life as a franchisee. Despite the extended length of this book, however, The Wealthy Franchisee never threatens to tax readers’ patience. You can lay this quality at the feet of his presentation style. Greenberg’s systematic approach mentioned earlier benefits from simplicity and organizational skills. It isn’t difficult to imagine the book’s contents existing as the bible for a multi-day summit on the franchisee experience and it has a natural feel rather than reading like its built in scattershot fashion.
Involving himself so deeply in the book, often sharing his personal experiences, imbues the book with an added dimension many similar texts lack. It is all the more impressive considering that Greenberg avoids even a whiff of self-indulgence; this doesn’t become some sort of memoir at the expense of practical information for franchisees or their would-be counterparts. One quality he deems necessary for a successful franchisee is that they love what they do and you get that feeling about Scott Greenberg reading this book.
No one writes a near four hundred page work on the intricacies of building and managing a successful franchise unless they harbor a burning passion for the subject. Greenburg is eager to share what he’s learned from many years achieving success in the field and his tone remains encouraging. He’s written a book, as well, that invites readers to come back to its pages tune after time to glean new insights from his observations. The Wealthy Franchisee: Game-Changing Steps to Becoming a Thriving Franchise Superstar will retain a great deal of relevancy for many years to come and has a level of completeness matched by few books of its type.
For a 5-Star review I would it was excellent...not amazing, but o.k. This is a very good book if you own a franchise, are considering one or just interested in business operations. I own a franchise, have heard Scott speak at our national conference and fellow him on social, having said all that, I still picked up a great deal from this book. Good, practical, actionable information.
This book made my heart race and blood pressure rise. Since we have bought our own franchise, I have quickly learned I fall in the camp of should never own my own business. I can't say I learned anything specific. My husband however, enjoyed this book and is a business guy. Anybody want to buy our franchise?
While the book is primarily aimed at franchisees, the book will offer great value to any business owner.
Key takeaways:
1) business ownership is personal development...learn to control your instinctive (and often, emotional) reactions to situations and filter them through objective business realities. 2) Know what you're selling: look beyond the product or service to the feeling you can create in the minds and hearts of your customers. 3) Lead authentically: don't just put up a set of values...you have to live them and make sure you are hiring people who accord with those values. 4) Invest in the community: by being involved in what's around you, you'll gain knowledge of how you can better help and gain visibility for yourself and your business.
"I'd like to suggest that if your business isn't doing well, it's probably your fault." (p. 43)
"The happier you make people, the more they buy, the more they talk, and the more you make." (p. 155)
"Operations have a way of distracting low-performing franchisees from what's most important." (p. 165)
"Don't market your business unless you're providing an experience you want everyone to know about." (p. 168)
"If your gut consistently identifies the right people, then keep going — you're doing better than the rest of us." (p. 192)
The book focuses on how franchisees can optimize their operations and mindset to achieve exceptional success within their franchises. Greenberg, an experienced franchisee himself, dives into practical strategies and mental adjustments necessary for standing out in the competitive franchise industry.
Definitely recommend a must read to anyone planning to open a franchise or even for the entrepreneur planning to have a scalable business with multiple employees.
The book is structured around key insights and actionable advice that range from enhancing customer service and employee management to optimizing operational efficiencies and increasing profitability. Greenberg emphasizes the importance of a franchisee's mindset, encouraging readers to adopt a forward-thinking and proactive approach to their business challenges.
Through a combination of real-life examples, psychological insights, and business acumen, The Wealthy Franchisee offers franchise owners a roadmap to elevate their business performance and achieve financial and personal success.
As someone in the process of buying a franchise, I'm glad I encountered this book when I did. While the purpose of buying into a franchise system is to not make mistakes that are easily avoidable, to err is human, and this book gave me an advantage I think as I am just starting out. A lot of the information is just good business advice and not unique to franchisees, but enough of it was unique to franchisees that I am glad I read it alongside a more generic business book, Dave Ramsey's EntreLeadership. Greenberg talks about the relationship between franchisor and franchisee and implementation of proven systems, and showcases profiles of successful franchisees.
I was fortunate enough to see Scott speak for us at the 2022 Xponential convention. Excellent, inspiring, and, when it comes down to it, simple advice that can be applied. Thanks!