Inside Franchising: Wisdom from Industry Expert Andy Erskine

Click Here to Listen to the Full Podcast Episode on Spotify

Recently, we had the chance to sit down with franchise veteran Andy Erskine on the Tracer Franchising Podcast. With deep experience as both a franchise consultant and a franchisee, Andy has seen franchising from nearly every angle. He’s helped brands scale, advised countless business owners, and today focuses on guiding entrepreneurs through profitable and emotionally manageable business exits with his firm, Voyage Acquisitions.

Here are the top five insights Andy shared that every aspiring franchise owner should know:

1. How to Spot a Winning Franchise

Andy emphasized two critical points when evaluating franchises:

• Financial Transparency (Item 19): Look for brands providing clear earnings information in their Franchise Disclosure Document (FDD). This transparency is a key trust indicator.

• Strong Franchisee Validation: Talk to current and former franchisees. Dig into the daily support, franchise culture, common pitfalls, and their financial track record.

2. Red Flags in Franchise Sales

Beware of these common franchise traps:

• High number of franchises sold but unopened: Indicates weak operational support or unrealistic expectations.

• Aggressive "sales-like" franchise process: A franchise license should feel like a careful qualification, not a high-pressure sales pitch.

• Mandatory multi-unit deals for first-timers: Good franchisors allow you to start with one unit and earn the right to expand.

3. The Power of a True Franchise System

Great franchisors deliver proven systems. Many franchises with hundreds of locations don't have household name brand recognition but they do have the playbook to get an owner to scale:

• Operational support: Franchisors should be involved day-to-day, not just collecting royalties.

• Data-driven lead generation: Strong brands know their numbers—how much a dollar spent generates in revenue.

• Performance transparency: Franchisors sharing performance benchmarks encourage franchisees to grow and learn from peers.

4. Grit Matters More Than Financial Expertise

While financial modeling and understanding P&Ls are important, Andy believes the real determinant of success is grit and personal accountability:

• If a franchise has hundreds of successful units, but you struggle, reflect honestly: it's likely your execution, not the franchise model.

• Successful franchisees persist through setbacks and adapt quickly.

5. Avoid Burnout by Delegating Early

Andy identified that small business owners often become their own growth bottlenecks:

• Delegate non-critical tasks first: Outsource tasks with lower revenue impact and lower costs.

• Accept good enough: Aim for progress over perfection. Hiring others who do the job 80% as well as you do at half the cost is a smart investment.

• Separate personal and business funds: Investing profits into hiring and systems today generates bigger returns long-term.

Bonus Insight: When to Scale or Exit

If your franchise business has multiple units, consider combining them for a stronger exit valuation. Also, carefully plan your next chapter before selling—selling your business should align with your personal and financial future.

Final Thoughts

Andy Erskine’s extensive franchising experience underscores one vital truth: franchise success combines careful due diligence, strong operational systems, personal accountability, and smart delegation. Whether you're evaluating your first franchise or scaling to multiple units, these insights can guide you toward lasting success.

To explore how Andy helps entrepreneurs sell their businesses, visit voyageacquisitions.com or call 640-BIZ-EXIT.

For support finding and evaluating your ideal franchise, reach out to Josh at tracerfranchising.com.