1851

According to data from the <a href="https://www.franchising.com/articles/new_report_predicts_steady_growth_in_franchising_during_2018.html?utm_source=1851franchise.com&utm_medium=article&utm_campaign=lessons-learned-my-first-year-as-a-franchisee-2708099" target="_blank" rel="nofollow" style="text-decoration-line:none" target="_blank">International Franchise Association (IFA), more than 14,000 new franchisees are born each year</a>. The beauty of the franchise model is that it allows aspiring entrepreneurs to achieve their dreams of business ownership with the comfort of a safety net in the franchisor. But even with the backing of a successful franchise brand, the first year as a franchisee can be incredibly stressful. 

&ldquo;When I bought my franchise, I still had those &lsquo;oh my God, what am I doing?&rsquo; moments,&rdquo; said Lisa Almeida, <a href="https://freedomboatclub.com/start-a-franchise/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=lessons-learned-my-first-year-as-a-franchisee-2708099" target="_blank" rel="nofollow" style="text-decoration-line:none" target="_blank">franchise owner of Freedom Boat Club </a>in Jacksonville, Florida. &ldquo;People think that buying a franchise gives you everything you need. But, you&rsquo;re still running a business on your own, and during my first year, there were moments when we didn&#39;t know if we were going to make payroll. You&rsquo;ll still have growing pains and things to learn when starting out.&rdquo;

One major stressor in Almeida&rsquo;s first year was capital.&nbsp;<a href="https://1851franchise.com/the-five-most-risky-franchise-ownership-mistakes-10724" target="_blank">She encourages prospective franchisees to be properly capitalized</a> and to avoid unnecessary stress by preparing to have more money than they think they need when starting out as a franchisee.

&ldquo;We were really undercapitalized in the first year. If we had been better capitalized &mdash; or borrowed more, or saved more, it would have been easier to make it through the first year. We did it on a wing and a prayer and a string and caused so much stress,&rdquo; she said. 

Ted Cutting, <a href="https://slaters5050.com/franchise/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=lessons-learned-my-first-year-as-a-franchisee-2708099" target="_blank" rel="nofollow" target="_blank">franchise owner of Slater&rsquo;s 50/50&nbsp;</a><a href="https://slaters5050.com/franchise/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=lessons-learned-my-first-year-as-a-franchisee-2708099" target="_blank" rel="nofollow" target="_blank">in Pasadena, California</a>, echoes Almeida&rsquo;s sentiments, adding that in hindsight, he would have budgeted better, hired fewer, more productive employees and placed a premium on hard work. &ldquo;Give more than you get the first few years. Run your business like it&rsquo;s going out of business and you will never go out of business.&rdquo;

Cutting also suggests that new franchisees focus on hands-on training in all aspects of their business so that they aren&rsquo;t reliant on specific managers or staff members, and to spend as much time on site as possible. &ldquo;Don&rsquo;t be an absent franchise owner in your first year.&rdquo; 

In addition to spending time on location, new franchisees should make sure to leverage the resources they have available. When looking back at her first year, Almeida recalls that she didn&rsquo;t <a href="https://1851franchise.com/franchisors-should-create-channels-for-two-way-communication-to-avoid-unhappy-franchisees-2707511" target="_blank">reach out to the corporate office or ask for advice from other franchise owners in the network as much as she should have</a>.

&ldquo;Franchisees should realize that they have a network they can tap into who have walked in their shoes,&rdquo; said Almeida. &ldquo;As a franchisee, you get caught up in your own world and you&rsquo;re spinning and you don&rsquo;t stop and think. But they do have that support there for you.&rdquo;

Even with the support of the franchisor, a playbook with proven systems and advice from other franchisees, franchisees are responsible for their own success -- and that success doesn&rsquo;t always happen in the first year. In fact, Almeida recalls that she finally felt relief in her third year of operation. But, she knows that trusting her instincts is what got her to a success point.

&ldquo;Any new franchise owner should listen to their gut &mdash; it knows the right answer. If you don&rsquo;t feel good about something, whether it&rsquo;s a specific advertising opportunity or a potential new hire, listen to your gut. Don&rsquo;t be impatient &mdash; wait for the right opportunity or person. It pays off in the long run. In your first year as a franchisee, you will hit roadblocks and you will learn from them, and eventually, things will click. Everything was a learning opportunity and nothing was so catastrophic that it hurt the business in the long run.

Lessons Learned: My First Year as a Franchisee

1851 Franchise

Read advice from franchisees from Freedom Boat Club and Slater’s 20/20 on how to succeed in the first year of franchise ownership.

lessons-learned-my-first-year-as-a-franchisee

TruBlue Home Service Ally

TruBlue’s Home Maintenance Plans: Peace of Mind for Homeowners

trublues-home-maintenance-plans-peace-of-mind-for-homeowners

Caring Transitions

Caring Transitions Targets Peoria, Illinois, for Franchise Growth

caring-transitions-targets-peoria-illinois-for-franchise-growth

Caring Transitions Celebrates a Strong Start to 2025 With 19 New Franchise Sales and Momentum-Building Training Events

caring-transitions-celebrates-a-strong-start-to-2025-with-19-new-franchise-sales-and-momentum-building-training-events

Right at Home

Right at Home 30th Anniversary in Home Care with Right at Home Logo

Celebrating 30 Years of Excellence and Future Innovations in Home Care

celebrating-30-years-of-excellence-and-future-innovations-in-home-care

Why TruBlue is the Ideal Franchise for Multi-Unit Owners: Scalable Growth With a Purpose

why-trublue-is-the-ideal-franchise-for-multi-unit-owners-scalable-growth-with-a-purpose

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 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

DoorDash Expansion Could Reshape Delivery and Operations for Franchise Brands - 1851 Franchise

DoorDash Expansion Could Reshape Delivery and Operations for Franchise Brands

doordash-acquistions-deliveroo-sevenrooms

Crumbl Franchise Investment - TSG Consumer Partners -  1851 Franchise

TSG Consumer Partners Takes Minority Stake in Crumbl, Signaling Franchise Growth Potential

crumbl-franchise-investment-tsg-consumer

Yum Brands Reports Strong Q1 Results with Big Boost from Taco Bell

yum-brands-reports-strong-q1-results-with-big-boost-from-taco-bell

QSR: McDonald’s Gains Momentum With Chicken Innovation, Value Deals and Franchisee Support

mcdonalds-franchise-recovery-chicken-strategy-value-deals-2025

The Future of Franchising: Trends and Predictions for 2025 and Beyond

the-future-of-franchising-trends-and-predictions-for-2025-and-beyond

Franchisee spotlight image with Randy and Sandy Craft, Children's Lighthouse logo on blue background

The Crafts’ Successful Journey from New Parents to Children’s Lighthouse Franchisees

the-crafts-successful-journey-from-new-parents-to-childrens-lighthouse-franchisees

Franchisee spotlight graphic with photo of Amy Lepke and family and Papa Murphy's logo

After 14 Years as a Stay-At-Home Mom, Amy Lepke Returned to Papa Murphy’s — This Time as an Owner

papa-murphys-franchise-amy-lepke

Franchisee Spotlight with Micki Waters and Papa Murphy's Logo

Work Mom: How Micki Waters Became a Mother Figure to Her Entire Papa Murphy’s Team

work-mom-how-micki-waters-became-a-mother-figure-to-her-entire-papa-murphys-team

Franchisee spotlight image with photo of Robert Trujillo and UWRG logo on blue background

Lessons Learned: My First Year as a Franchisee

MORE STORIES LIKE THIS