Send us a text

What makes some franchise owners wildly successful while others struggle? Scott Greenberg, acclaimed author and former top-performing franchisee, unlocks the secrets of "wealthy franchisees" in this eye-opening conversation.

Scott's journey began unexpectedly when he spotted an Edible Arrangements ad in an airline magazine. As a motivational speaker seeking both real-world business experience and additional income, he took the plunge into franchise ownership. What followed was a decade of powerful lessons as he built multiple top-performing locations while continuing his speaking career.

The mindset difference between successful and struggling franchisees became immediately apparent. While struggling owners focus on external factors—location, market conditions, franchisor support—top performers understand they are the biggest variable in their business success. They approach their first 18 months with a "farming mentality," planting seeds rather than expecting immediate harvest.

One of Scott's most powerful insights is his formula for how franchise owners should spend their time. Take your desired annual income, divide by 2,000 work hours, and you'll get your effective hourly rate. Would you pay someone that amount to sweep floors or answer phones? If not, you shouldn't be doing those tasks either. The most successful franchisees work ON their business (marketing, culture, strategy) rather than IN it (day-to-day operations).

Perhaps most revealing is the stark contrast between franchisees in identical systems. Jack and Jill share the story of two owners in the same franchise—one recently had a successful exit after just two years, while another is calling it "the worst franchise on earth." This perfectly illustrates how personal mindset and approach create dramatically different outcomes.

Ready to explore franchise ownership or improve your existing franchise's performance? Visit scottgreenberg.com for resources, or schedule a free consultation at thefranchiseinsiders.com to receive a complimentary copy of Scott's must-read books: "The Wealthy Franchisee" or "Stop the Shift Now."

Visit www.weboughtafranchise.com to subscribe.
Send us your questions for an upcoming episode at 305-710-0050.
From your pals in franchise ownership, Jack and Jill Johnson.