Franchise Times in the Nick of Time
Have you seen the November/December “holiday” issue of the franchise industry’s premier publication—Franchise Times?
My friend Nancy Weingartner, Executive Editor, put together what I believe is the definitive primer on who Aaron’s is and why we are successful. I say “we,” because I’m proud to say that along with Todd Evans, Executive Vice President Franchising for Aaron’s, we’ve presented our Aaron’s story and formula to wealthy investors and made them wealthier and made our franchise business a getting place for a growing and underserved market.
The cover features an up-close-and-personal photo of Aaron’s multi-unit franchise owner, Charles Smithgall, III. Inside starting on page 16 is a six-page article on Aaron’s titled, “How Aaron’s figured out its challenge: Attracting wealthy investors to a business they’ve never heard of that serves credit-challenged customers.” Unlike other franchises, the potential candidates are not actual customers. Yes, it’s a challenge, but it’s also an advantage. Many entrepreneurs buy into a franchise because they like the product or service: They eat at the restaurant or use the maid service. You want owners to be passionate about the business, but you also want them to dispassionate in how they operate the business. Read my Tannerisms #17—Don’t make an emotional decision. Make a business decision.
Charles is the largest franchisee in the system with 105 stores. Another Aaron’s owner featured in Nancy’s well-written article is Spencer Smith, headquartered in Cortez, CO, a master of his own 40 Aaron’s stores. What makes Spencer so successful is that he follows “the recipe,” my Tannerisms #5. In other words, he runs his business by the book—in textbook fashion as it was designed to be operated. He’s not trying to reinvent the wheel; he’s sticking to the operating manual.
The full article includes a fitting story about Todd, his background and what he’s meant to Aaron’s during his 22 years both building the franchise department and creating “customers for life” for our franchise owners. If you want to own your own business—be in business for yourself—I encourage you to this month’s cover story on Aaron’s in Franchise Times.
As we approach the holidays, we all have much to be thankful for in our professional and personal lives. Here’s wishing you and yours a bountiful and giving Christmas and a prosperous New Year!