It’s not all about the money

Owning a business, building a franchise, growing a career is not just about the money. Or is it?

Written by Jeff Wesley

Jeff Wesley CFO at TWO MEN AND A TRUCK®/INTERNATIONAL, Inc.

Jeff Wesley CFO at TWO MEN AND A TRUCK®/INTERNATIONAL, Inc.

Let’s see. As a chief financial officer, I’m often accused of focusing too much on the money. People say, “Money isn’t everything,” and “There is so much more to life than money.”  These statements are true, of course. But establishing a sold fiscal plan or discipline is absolutely key to viable and consistent success.  While I agree, money isn’t everything, it’s the foundation which allows solid leadership the momentum to provide the means to create something special.

In the TWO MEN AND A TRUCK® system, franchise profitability is at an all-time high with average profitability starting at 13 percent. This is important. It enables franchises to have a solid return on investment, pay our valued team members, and invest in training, equipment, and improved operations. So it is about the money. Without the bedrock of solid profitability, funding growth is not possible, customer service declines, leads diminish and well, you know the rest.

From a corporate perspective we’ve earned 35 record months of consecutive growth. Our system has doubled in size in just the last four years.  This too, is important. Growth allows us, as a franchisor, to invest in both people, operational improvements, and technology to support our franchisees and the progress and profitability of their businesses. Business never rests and we need to evolve to meet the needs of today’s customer.

Once a business is profitable, there is another cool thing that happens. And here is where folks say, “It’s not just about the money.” And I agree wholeheartedly; it’s about so much more than the money. It is about supporting communities with jobs, providing a needed service, and giving back to those organizations and causes evoking passion within each of us.

Since inception, the TWO MEN AND A TRUCK® culture has focused on giving back to the communities in which we live and work, beginning when Founder Mary Ellen Sheets donated her entire first-year profits to ten charities Franchisees enjoy connecting with a culture which is fiercely passionate about giving back. Combining the charitable side of the brand with the profitable franchise business model, franchisees are given the opportunity to be heroes.

And because TWO MEN AND A TRUCK® franchises are profitable, they have the resources to give back. And the giving back culture doesn’t simply mean writing a check. That’s an important part, of course. But our franchises and corporate team members roll up their sleeves and give of their time and energy. And time is money, especially to nonprofit organizations operating with limited budgets. We build homes, we serve at homeless shelters, we organize fundraising galas, we donate boxes to various coat and food drives, we serve on nonprofit boards. We impact communities everywhere we exist.

In fact, TWO MEN AND A TRUCK® franchises donated nearly $2.5 million in moving services to nonprofit organizations in 2013, in addition to thousands of dollars in boxes and packing supplies.

And for this reason, I can’t understand those people who don’t care about money. We must make money to have the means to deliver on our passions. Without it we can’t take care of our communities, our at-risk moms and children, our veterans, our neighbors.

If you are looking at franchise systems, here are some tips to ensure you’re profitable so you can give back to your community and build a legacy.

  1. Profits matter: Find a system that is profitable and cares about numbers and budgets and finds value in supporting franchises in achieving results
  2. Metrics matter: Look for a franchise system with solid metrics and transparency into those metrics in order to maximize growth and success
  3. Strategies matter: Discover a system which has a vision for the future and is investing in achieving that vision with a  proven track record of success
  4. Plans matter: No one drives from Michigan to Texas without a map; ensure the system supports your start-up process and plans for development
  5. Values matter: Find a company with a proactive plan for giving back that matches your personal core values

TWO MEN AND A TRUCK® is so passionate about giving back we donate $.10 of each move to the American Cancer Society in addition to creating Movers for Moms®, our signature cause marketing program.

TWO MEN AND A TRUCK® is making great things happen for the customers and communities we serve.  Money and profits help us impact lives and we are grateful and proud where we can make a difference. Visit our website to learn more.

 

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