Top Franchise Brokers: Gary Prenevost, FranNet

Ontario-based franchise consultant Gary Prenevost is a student of success. His interest in the subject comes naturally.

As one of five children, all born within six years of each other, Prenevost says he acquired his own drive to succeed through sibling rivalries. “Everything we did was competitive, so I love to compete,” he said.

Today, however, his hardest challenger is himself. “I compete with myself. I set clear goals and a clear vision of what I want to achieve every year,” he said. “I believe in BHAG: big, hairy, audacious goals.”

BHAG, a concept popularized by Jim Collins in his book, “Built to Last: Successful Habits of Visionary Companies,” is a method of clear-cut goal-setting that Prenevost swears by. “I like to compete with others in FranNet for the top spot, but I am really focused on how well I achieved my goals.” 

Prenevost is now working on one of his most ambitious goals to date: He’s writing a book about success, focused on unlocking the secrets of the top-performing franchisees in the industry.

“I've interviewed at least 26 CEOs, and I'm interviewing the top franchisees right now,” he said. Of all the core skills and traits he has researched so far, Prenevost thinks there’s one that separates the most successful franchisees from the rest of the pack. “It’s a passion for the work, not passion for the product. They love the work it takes to put that value proposition in the customer’s hands. It’s not about the brand — it's about the ability to deliver the brand promise.”

He says his research points to another skill that separates the middle-of-the-pack performers from the elite: their ability to work with, lead and inspire other people.  

“With average-performing franchises, it’s all about me. ‘I’m running this business. I’m great at this. They’re working for me,’” he said. “But without exception, the top-performing franchisee leaders I've spoken with say, ‘I put my people first. It's about helping them succeed.’”

In other words, great leaders may be competitive, but they still know when to check their egos at the door and work in service of a bigger goal.

Watch the full interview above, or click here to watch it on YouTube.