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
And so I think for new franchisors, they plan on franchise fees from the sale of a franchise.
And then when 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 ahead.
appropriately.
So that was my first lesson learned when we were $200,000 short of what it really was going to take to stay at it and grow a successful brand.
And we
to go hat in hand to a family to help us out.
We paid it back within 12 months.
But it was a really tough time.
And so I can sympathize with other business owners that are kind of going through that stage.
But I think if you're really passionate about what you believe in and
And you know it can be successful.
Timing may just have gotten 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 franchisor, 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 on location and tried to do both.
And that didn't work.
really create for a successful opportunity to continue to grow my company-owned store.
In fact, it suffered 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 a lesson learned would have been to plan an increased level of capitalization, bring in...
leadership person to run my company on location so that me as a founder could focus on my franchisees and not feel guilty if I'm 100% focused on my franchisees and my company-owned store is suffering or vice versa.
Showing 1241–1260 of 1,448 · page 63 of 73
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