From Teaching to Franchise Owner: 4 Pieces of Advice When Starting Up

Stacy ParkelA former teacher, today Stacy Parkelj is co-owner of a Tutor Doctor franchise in Dallas. She shares 4 wise lessons she has learned in starting her own business.

The journey towards doing what you love and being able to support yourself and your family is often fraught with obstacles, confusion, and innumerable questions. I myself have gone through several different eras of work, from being a teacher, operating a web design company, to managing a large sales team before returning to the classroom. It wasn’t until I returned to my love of teaching that I realized my passion for education could fit perfectly with my entrepreneurial spirit through opening a tutoring business.

Four long years ago, I took a leap of faith and opened my small business, a Tutor Doctor franchise location in the Dallas Ft. Worth area with the help of my father as a business partner. Since then, I’ve learned hard life and business lessons and have grown my business to support local community families. It is such a powerful blessing and gift to be able to do what I love every day, and I believe that everyone should be able to say the same for themselves.

Whether you’re going it alone, or entering business with a partner, it’s important to go into business with your eyes open and a set plan. Once you have the road map laid out and set the plan into motion, everything will fall into place with a little hard work and dedication.

Here are some pieces of advice that have helped me through the launch and growth of my business.

Be open to making sacrifices early on

Launching a successful business requires so much more than just a financial investment. Especially in the first few years, entrepreneurs should expect to invest a significant amount of time into their business, putting processes and systems in place to accelerate growth and move towards self-sufficiency. Because of this hard truth, dedication to launching a successful business forces you to shift priorities towards the business. Be prepared to miss sleep and events, and have a plan in place to help manage and care for your children.

Make Wise Hiring Choices

The employees you hire are unquestionably some of the greatest investments you’ll make into your business. It’s important to make strategic hiring decisions for the business, especially while the business is still being established. As much as it is possible, seek employees that bring more to the table than the skill sets required by their positions, and employees who compliment the business model and team members. Selecting employees who meet your criteria will create a synergy in your company that will drive it to successful heights.

Stacy Parkel
Stacy and her father and business partner

Seek out a support system

Business ownership can be a very lonely journey. As stress mounts and weighs on your shoulders, having a support system can mean a huge difference in your attitude, pool of resources and references and the future of your business. Finding a support system that will understand every inch of what you’re experiencing is crucial and sometimes requires reaching outside of your traditional circles. While your friends and family might be supportive and excellent listeners, unless they’re also business owners they may not completely understand your situation and not be able to offer helpful business advice. Finding a business-minded mentor will not only give your business the powerful resource of someone who has been through it all, but also an outside perspective.

Set a routine 

Without a doubt, the first few years of business ownership is punctuated by long hours, hard decisions and balancing the world on your shoulders. Thankfully, this phase of startup and extreme productivity doesn’t last forever. Once the dust has settled and the business is up and running, it’s vital to establish a proper schedule and routine. For me, that means that from nine to five o’clock every day I go into my home office and close the door. Simulating a real-world work environment while working from home establishes necessary boundaries for myself and my family and ensures that I can maximize my time. Even if you aren’t working from home, it’s important to find a way to end your work day and “turn off” your business brain.

Whether you’re going it alone, or entering business with a partner, it’s important to go into business with your eyes open and a set plan. Once you have the road map laid out and set the plan into motion, everything will fall into place with a little hard work and dedication.

 

One thought on “From Teaching to Franchise Owner: 4 Pieces of Advice When Starting Up

Leave a Reply