There’s a secret among franchises, and that secret is that franchises simply don’t work with an absentee business owner. In fact, most franchise companies won’t let you own one of their locations if you plan on becoming an absentee business owner. But did you know that almost no business can succeed with an absentee owner? Let’s find out why.
What is an Absentee Business Owner?
Absentee business owners aren’t involved in the day-to-day operations of a business. They might not even live in the same city where their businesses are located. They are, for all intents and purposes, absent from the running of the business.
Note that “absentee business ownership” does not necessarily equate to “passive income,” which can be generated by running a mobile business.
An Absentee Business Owner Leads to a Who Cares? Mentality
Generally speaking, an absentee business owner leads to an overall “who cares?” mentality among workers and even managers. If the owner doesn’t care enough to be involved in the business, why should the employees care?
When a business owner is absentee, the employees also get the sense that they’re working just to make someone else wealthy. They can’t get involved in a bigger mission or an effort that is meaningful to them. They see that the owner doesn’t care, so they don’t care.
Who’s Minding the Henhouse?
Absentee business owners tend to lend themselves to stealing, bad business practices, and other unsavory results, simply because nobody is minding the henhouse. If you’re not watching over the business and holding your team to high standards, you can’t expect your employees to care much about customer service or anything else.
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