Father’s Day at Golden Corral: A Franchisee Carries on His Dad’s Tradition Essay Example

pursue franchising as it offered me the opportunity to achieve my dream of entrepreneurship. Being able to work for myself and lead a successful team overseeing 26 Golden Corral restaurants has been incredibly fulfilling. The beauty of franchising is that with determination, skills, and drive anyone can succeed at owning and managing their own business successfully. It's particularly rewarding when former colleagues become franchisees themselves.

By working in the restaurant industry, I have been able to provide employment opportunities for those without formal education or experience, while also prioritizing customer satisfaction. In 1989, I participated in Golden Corral's management training program and held various roles such as associate manager, general manager, and district manager throughout the early 1990s. These positions allowed me to gain a thorough understanding of Golden Corral's restaurant operations before becoming a franchise owner.

Having a comprehensive understanding of the company and industry, I found it effortless to become a franchise owner in 1996. This choice was influenced by my father who shared a friendship with James Maynard - the founder of Golden Corral - as they were classmates and roommates. Furthermore, my father's experience working for the company as an investor and equipment/operations specialist for several years also played a part in my decision. My summer jobs during high school at Golden Corral further fueled my interest in pursuing restaurant management as a career.

Question: Could you share details about the initial investment for Golden Corral and where you sought advice?

Answer: At the outset, I procured two existing stores under Golden Corral for $500,000 which included expenses related to inventory, equipment, and management. My extensive experience working within the Golden Corral system for seven

years and cultivating relationships with senior management served as my primary source of advice and information.

Related question:
In managing your franchise business, what were some unforeseen challenges that emerged?

Answer: Managing a franchise is a monumental responsibility that may present unexpected challenges.

Being the owner of a restaurant company requires meeting various expectations and standards, such as managing employees and ensuring customer satisfaction. Achieving these goals involves constantly recruiting suitable staff and providing sufficient training. As the proprietor of 26 restaurants, I have over 1,800 employees who depend on me to support themselves and their families. In difficult economic times, entrepreneurs may need to make tough decisions like closing or merging establishments in order to stay afloat. During adversity, it is important to be adaptable; otherwise, the business could be at risk of failure.

If someone wants to own a franchise, what advice would you give them? Even though franchising can be a great opportunity, success requires hard work. To increase your effectiveness as a business owner, it is important to be meticulous in your endeavors and adhere to the brand standards. Follow these standards diligently and dedicate the necessary effort to recruiting and training individuals who can contribute to your company culture and meet your expectations.

Unless people are trained correctly, their good intentions are not enough to achieve the desired outcome. High employee turnover is a significant expense for the restaurant industry. Successful leaders in this field often have great passion and enthusiasm for their business, motivating employees to operate the restaurant successfully. When leaders show excitement, enthusiasm, and determination to succeed, employees feel motivated to follow suit. Demonstrating care for the business inspires employees to do

the same.

What is your future plan for you and your business? Despite my initial goal of owning five Golden Corral restaurants, I have surpassed my expectations as we currently operate 26 stores. Moving forward, I aim to maintain successful operations by emphasizing sales and profit growth.