"You have to risk everything in order to become an entrepreneur"
These are the words of Don Wright, a McDonalds franchise owner of about twelve locations. Don and his wife, Paula, certainly risked it all when they both quit their plush jobs to become self-sufficient business owners. Their first venture was a complete disaster. Their second venture certainly was no cakewalk either. But Don and Paula Wright fought through the adversity and have become one of the most successful McDonalds franchise owners to date.
I genuinely enjoyed Don and Paula's entrepreneurial success story and presentation. They not only have found financial success but also moral success. Paula is active within the community by acting on the board of many community service programs through the McDonalds franchise. Don prides himself by providing excellent "people development" throughout his organization whereas he has placed himself within the families of his employees. This type of success is immeasurable and perhaps, irreplaceable. I felt that their business motto of "giving back to the people that make your business successful" is one that I shall take away and cherish throughout my entrepreneurial career.
Relating Don and Paula's presentation to the franchising notes that we had learned in class, I believe that the two business people followed the right steps in order to choose the right franchise. They evaluated themselves and both decided they wanted to earn their money. They researched the possibilities that they had and followed different markets. They then chose McDonalds as a franchise of possibility based on their current market share. To complete their analysis, the two went through Hamburger University in order fully experience the McDonalds owning responsibilities. After all of these steps, the Wrights decided to buy their first franchise.
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