Shelly Sun
speaker
1,448 appearances
6 recordings
1 series
first heard Nov 2011
last heard Nov 2015
Shelly Sun’s voice in public audio — every appearance, attributed to the second.
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Appearances
new franchise sales aren't happening, they can be upside down from an infrastructure perspective and from a capitalization perspective if they haven't planned appropriately.
So that was my first lesson learned when we, you know, were two hundred thousand dollars short of what it it really was gonna take to
stay at it and grow a successful brand and we had to go, you know, hat in hand to a family to help us out and we paid it back within twelve months.
But you know, it was a really um it was a really tough time and so I can sympathize with, you know, other business owners that are kinda going through that stage and but I think if you're really passionate about what you believe in um and you know it can be successful, timing may just have gotten
um in the way that you press ahead and you move forward.
The second one was really fully understanding that once I made a decision to be a franchiseur, I needed to be a franchisor the majority of my time and I didn't move quickly enough to backfill myself to oversee the company owned location and tried to do both.
And that didn't do uh uh that didn't um
really create for a successful uh opportunity to continue to grow my company owned store.
In fact it it suffered um pretty substantially not having my oversight of it, but I felt like I owed it to my franchisees that if they were writing these checks and joining my system that my attention needed to be focused on them.
And so, you know, a l a lesson learned would have been to plan an increased level of capitalization, bring in uh
leadership person to run my company owned location so that me as a founder could focus on my franchisees and not feel guilty um if if um I'm a hundred percent focused on my franchisees and my company owned store is suffering or vice versa.
I think critical, um critically um important to our success 'cause I think, you know, there have been a lot of high growth industries and, you know, anything having to do with children or seniors, um, wellness, you know, have been very high growth industries.
And so if you know the business is gonna come
then we didn't want to be in a situation of going and hiring people and and if they don't come from health care, having them take six to twelve months to ramp up.
And even if they do come from healthcare, since we were the first brand that had the full continuum of care, including skilled care, it would take 'em probably three to six months to ramp ramp up.
And so if we were always hiring after we had already sold the franchises
then our new franchisees were getting a subpar experience and that's not what they paid for.
So I think the reason we didn't just grow fast but grew smart was our ability to invest ahead of the growth, but n be prudent about
not just investing for investment sake, but being able to look at what was the growth trajectory for all of my competitors that had kind of come before me to know how quickly I may grow and then be able to plan the organization ahead of time, allowing three to six months for experienced industry people and six to twelve months for those positions that I might pull f uh outside the healthcare industry.
Well, I I I wanted to ensure a consistent quality delivery to our end consumer.
Showing 681–700 of 1,448 · page 35 of 73
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