Each year Multi-Unit Franchisee magazine recognizes and honors a select group of franchisees who have demonstrated outstanding performance in building their businesses, growing their brands, and serving their communities. Aaron’s franchisee Spencer Smith was one of the seven “Most Valuable Player” winners this year and he’s the recipient of the “Role Model Award” given to the franchise owner who provides an example for others to follow in franchisee success.
“If you’re going to buy a franchise, follow their recipe.”
When you buy a franchise, you must follow the systems, structure and procedures that the franchisor provides you. The franchisor through testing, trial and error and constant monitoring has devised a recipe for your success. If you try to reinvent the wheel, you’re only going to get off track. Spencer won the IFA’s award because he sets an example for all the other Aaron’s franchisees that proves, if you follow the system, the recipe, you can be successful as a franchise owner. In our nominating form, here’s how we described Spencer’s success and contribution to the system as a role model:
Spencer Smith sets an example for our Aaron’s franchisees that every franchisor can appreciate. He follows the system and our franchise owners follow his example. “We execute the program at a high level,” he says. Spencer’s stores are located in many rural markets. His showrooms serve a third to half as many households as other Aaron’s owners, yet every year five to seven of his stores rank in the top 25 of the more than 800 stores in the franchise system based on 13 key indicators establish by Aaron’s, Inc. Spencer doesn’t stand out because he’s a flamboyant entrepreneur, he’s successful because he firmly fits in. “When I signed my first franchise agreement, my lofty ambition was to open five stores in five years. As we got down the road, it became 10-15 stores in 10-15 years. We just opened our 40th store in eight years and 10 months.” Exhorting others to follow the system isn’t sexy, but he’s built an attractive business that’s the model for all our franchise owners.
As an MVP Award winner, Spencer will be honored at the 12th Annual Multi-Unit Franchising Conference at Caesars Palace in Las Vegas. He will receive his award on March 28, 2013 in the General Session and have his photo taken with Astronaut Mark Kelly. He will also be a guest that evening at a private dinner with the Franchise Update Advisory Board. Not bad for someone who follows the system.
Therese Thilgen, CEO of Franchise Update Media Group, publisher of Multi-Unit Franchisee magazine, said it best, “We congratulate these seven dedicated and outstanding franchisees. Spencer is the kind of business operator who inspires others with his vision, leadership, and success.”