In the latest episode, Grace Under Pressure Part 2, you’ll hear Sue Petrowich’s inspiring story of taking the leap into franchising. Sue and her husband made the courageous decision to leave their corporate jobs and faced the daunting task of taking control of their financial future. Sue shares the key steps she took to ensure her business journey was a successful one, such as how she and her husband used an established franchise system, and the attitude of Grace Under Pressure, to achieve financial freedom. I’ll outline in greater detail how Sue Petrowich achieved her dreams, so you too can find success in your business journey.
So what key steps should be taken to ensure a successful business journey? Stay tuned to find out!
About Sue Petrowich
Sue Petrowich, an entrepreneurial investor who made her foray into franchising with Great Clips Salons in Chicago in 1993 (just one year after I did). Sue was a special education teacher for decades and grew tired of missing her own children’s activities and sick days. Control, flexibility and freedom were in her sights. After experiencing some success, her husband joined her to grow their empire. In addition to their IL locations, they expanded outside of their geographical comfort zone. This reinforced the critical need develop a great company culture for employee retention and advancement. Sue is also unabashed about the need for trust, and the grace under pressure required during turbulent and unexpected situations.
Why is it important to take key steps to ensure a successful business journey?
Sue Petrowich is a prime example of a future entrepreneur who became a corporate refugee in order to break away from the monotony of the day job. As Sue describes it, she created a road map to ensure a successful business journey. She was acutely aware of the volatility that could come in Years 1-3 without a road map for short and long-term satisfaction and profitability. Additionally, Sue relied upon a support network, such as like-minded franchise owners and the home office, for expertise in areas that were foreign to her. As a couple, the Petrowichs created a permanent exit strategy from their careers in order to enhance their personal and professional success and maximize the income potential for their financial future.
Here are the steps you need to follow:
1. Research and understand the process of franchise ownership.
2. Have a plan to finance the business.
3. Develop a culture of support and communication with employees.
4. Have an infrastructure in place for payroll, HR, and other operational tasks.
5. Look for opportunities to expand and grow the business.
6. Have an exit strategy in place.
7. Remain flexible and be prepared for any unexpected events.
We’ll take a deep dive into each step in the next blog post that you can read by clicking here. Listen to the full interview below.
