1851

Franchise executive Scott Thompson&rsquo;s career has evolved at the same breakneck speed the industry itself has. Thompson has been a multi-unit franchisee, master franchisee, franchise supplier, broker and has served on the executive team and board of multiple franchisors. His role as Chief Development Officer at <a href="http://www.lfivecapital.com/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=franchise-development-leader-level-5-capitals-scott-thompson-2708008" target="_blank" rel="nofollow" style="text-decoration-line:none" target="_blank">L-5 Capital</a> challenges him to draw on all of his previous roles to ignite growth for the brands under L-5 Capital&rsquo;s umbrella. <a href="https://1851franchise.com/" style="text-decoration-line:none" target="_blank">1851</a> got the chance to consult Thompson&rsquo;s well-versed opinion on all things franchise development. 

How did you first get involved with the franchising industry?

Eighteen years ago, I fell into this company called fitness forever, a one-on-one private training franchise based out of Denver. I began working for them and eventually took part in their leadership program, where I learned how to run a franchise as a&nbsp;manager, continuing on into ownership from there. 

What do you love about the industry?

My favorite part of franchising is helping people build legacies and wealth for their families. Franchising is a great vehicle for people who have gained skills in different areas over the years working for someone else. The franchise model allows these peoples to apply those skills as their own boss, creating something sustainable and successful to pass down.

What do you wish you could change in franchising?

Lots of franchisors that come onto the scene that are all about the sale and not enough about unit profitability. If I could take those companies and put them through some sort of certification process and make sure that they have a substantial management team in place that has been trained in the franchise model, knows how to build a sustainable system and is focused on unit economics, it would be a better environment overall.

What&#39;s the biggest change you&#39;ve seen in the industry since you started out in franchise development?

I think more and more decisions are being made by leveraging data. As a franchisor, if you&#39;re not tech-focused and using it wherever you can to innovate, you&rsquo;re going to be left behind in the acquisition of new franchisees and the success of your existing ones. Artificial Intelligence and data analysis leads to more comprehensive learning, which leads to more intelligent decision-making from a management perspective

What makes a great franchisee?

Someone with drive and passion. Someone who understands the &lsquo;why&rsquo; behind being in business for themselves. Someone who can follow and add value to a system. Lots of franchisees want to recreate the wheel when coming to a brand, but those that understand that the current model has been tested and proven are the ones poised to succeed. When a franchisee achieves sustainability and success, they should then seek areas in which to add and innovate.

What&rsquo;s the number one thing that sells franchises?

People! You have to have a great leadership team, values and culture in place to grow. You have to tell a great story about how you&rsquo;ve helped people from all walks of life find financial success and achieve independence as their own boss. Identify what those touch points are and recognize who not to bring in. It&rsquo;s the people behind the brand that ultimately attract the right franchisees.

Franchise Development Leader: Level 5 Capital's Scott Thompson

1851 Franchise

L-5 Capital Chief Development Officer Scott Thompson has spent nearly two decades in the franchise industry in almost every role imaginable

franchise-development-leader-level-5-capitals-scott-thompson

HomeTeam Inspection Service

Photo of HomeTeam Inspection Service representative giving presentation

Strategic Partnerships Fuel Franchise Growth at HomeTeam Inspection Service

hometeam-inspection-service-franchise-growth-partnerships

Express Employment Professionals

What’s in the 2025 FDD? A Closer Look for Express Employment Professionals Franchise Buyers

whats-in-the-2025-fdd-a-closer-look-for-express-employment-professionals-franchise-buyers

petbar

How-petbar-Makes-Pets-and-Their-Owners-Happy-as-Part-of-the-Family-in-a-Clean-and-Fun-Environment

How petbar Makes Pets and Their Owners Happy as Part of the Family in a Clean and Fun Environment

petbar-franchise-opportunity-boutique-pet-grooming

petbar Franchisees Win the $6.89B Global Market With Complete Transparency, Self-Service and Membership Models, Creating the Happiest Place for Dogs

petbar-franchise-opportunity

Why petbar Wants to Be the “Disney World for Dogs” — and a Dream Business for Franchisees

petbar-franchise-dan-ashley-o-loughlin-qa

Buying a Franchise Masterclass

 Franchise Opportunities

Get Support Buying a Franchise

How to Buy a Franchise White Paper

How to Buy a Franchise

How to Sell Franchises

How to Grow a Franchise

Find a Franchise Supplier

1851 Franchise Opportunities

Franchisor News

Franchisor Power Rankings

FranCamp Mastermind Summit

Franchise Development Website Builder

Franchise Resources

What ALEC-Laffer's Report Means for Franchising

Website Awards

Power Rankings

About 1851

Advertise on 1851

Contact 1851 Editorial

Terms of Use

1851 Login

GROWTH CLUB LOGIN

facebook

instagram

twitter

linkedin

youtube

Chick-fil-A Tops Customer Satisfaction Rankings for 11th Year as Challenger Brands Gain Ground

chick-fil-a-tops-customer-satisfaction-rankings-for-11th-year-as-challenger-brands-gain-ground

Technomic Releases Annual Ranking of the Top 15 Fast-Food Chains in the U.S.

technomic-releases-annual-ranking-of-the-top-15-fast-food-chains-in-the-us

Rising Jobless Claims Could Signal Challenges — and Opportunities — for Franchising

rising-jobless-claims-affect-franchising

Hardee’s Lawsuit Highlights the Risk of Going Off-Model in Franchising

hardees-franchise-lawsuit-paradigm-investment-group

Hooters Leans Into Franchising With Closure of 30 Company-Owned Stores - Agg - 1851 Franchise

Hooters Leans Into Franchising With Closure of 30 Company-Owned Stores

hooters-franchise-model-company-owned-closures

The Ultimate Guide to Selling Franchises: How To Create a Strong Incentive

how-to-build-strong-incentives-to-attract-prospective-franchisees

Top 25 Franchise Marketing Leaders: Carol DeNembo — Chief Marketing Officer, Mountain Mike’s Pizza

top-25-franchise-marketing-leaders-carol-denembo-chief-marketing-officer-mountain-mikes-pizza

Brian Curin - Little Kitchen Academy - Franchise Marketing Leaders - 1851 Franchise

Top 25 Franchise Marketing Leaders: Brian Curin — Chief Executive Officer/Chief Marketing Officer, Little Kitchen Academy

little-kitchen-academy-marketing-leader-brian-curin

The Ultimate Guide To Selling Franchises: How to Leverage Franchise Expos

how-franchisors-can-leverage-franchise-expos-to-drive-success

How Vishal Juneja Turned a Family Tradition Into a Paris Baguette Franchise

How Vishal Juneja Turned a Family Tradition Into a Paris Baguette Franchise Built on Heart and Community

Franchise Development Leader: Level 5 Capital's Scott Thompson

MORE STORIES LIKE THIS