In this episode, host Sharon DeKoning sits down with Jamie Soucy, franchise owner of Pet Planet in Lloydminster, to discuss the ins and outs of franchise ownership. Jamie shares her journey into the business, starting from her daughter’s employment at the store to making the leap into franchise ownership. She highlights the benefits of running a franchise, including a proven business model, marketing support, and a strong product guarantee, while also addressing the challenges such as royalty fees, limited independence, and strict franchise guidelines.
Jamie offers valuable insights into what it takes to succeed as a franchise owner, emphasizing the importance of thorough research, financial preparedness, and seeking advice from other franchisees. She also shares practical tips on navigating the franchise agreement, managing day-to-day operations, and balancing personal and professional life as an entrepreneur. If you’re considering investing in a franchise, this episode is packed with essential advice to help you make an informed decision.
About Jamie Soucy
Jamie Soucy is the owner of Pet Planet in Lloydminster, a well-established pet supply franchise dedicated to providing high-quality nutrition and care products for pets. With three years of ownership and a deep commitment to pet health, Jamie ensures that customers receive expert guidance on proper pet nutrition and care. Her journey into franchise ownership was inspired by her daughter’s experience working at Pet Planet, leading her to take over the business when the opportunity arose.
With extensive franchise training in Calgary, Jamie gained hands-on experience in product knowledge, operations, and business management. She has since implemented strategic improvements to store organization and inventory management while benefiting from the structured support of the Pet Planet franchise. Active in the local business community, she is a member of BNI Lloydminster, where she fosters connections with fellow entrepreneurs. Passionate about pets and customer service, Jamie continues to make a positive impact on pet owners and their furry companions.
Resources discussed in this episode:
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Contact Sharon DeKoning | It’s Time Promotions:
- Website: itpromo.ca
- LinkedIn: Sharon DeKoning
- Facebook: It’s Time Promotions
- Google: It’s Time Promotions
Contact Jamie Soucy | Pet Planet:
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Sharon DeKoning: [00:00:16] Thank you for joining me today on the It’s Time for Success: Business Insights podcast. Our podcast today is going to be on franchise ownership and a bit of the pros and cons about buying a franchise. Today we’re with Jamie, who is the franchise owner of Pet Planet here in Lloydminster. Franchises are a popular option for entrepreneurs offering a ready made business model, but they also come with their own set of challenges. Jamie will share her experience as a franchise owner, the pros and cons of purchasing a franchise, and advice for anyone considering taking this path in business. I think this will be a great episode. Not only do you have lots of energy, I got to know you on a personal level and you humor me on a regular basis. One thing about being a business owner, I own It’s Time Promotions and I get to work with amazing other entrepreneurs. That’s how I got to know Jamie, is she came into work here at It’s Time and we hit it off right off the get go. She’s also with me at BNI here in Lloydminster, so we have a great relationship. Okay Jamie, introduce yourself to everybody.
Jamie Soucy: [00:01:20] Hi, Sharon. Thanks for having me. I am the owner of the Pet Planet store in Lloydminster. Pet Planet is an established franchise, it’s dedicated to providing pets with the best life possible. The store has been open for 12 years here in Lloydminster, and I’ve been the owner for three years.
Sharon DeKoning: [00:01:42] Let’s talk about franchises. You purchased a franchise, what possessed you to purchase a franchise instead of starting a franchise? I know that you worked there previously, is that how you fell into the franchise?
Jamie Soucy: [00:01:59] No, my daughter actually worked there for five years. She started there when she was 16, and she worked right through her first couple of years of college. When the store was up for sale, then the discussion started. That’s how I got into the Pet Planet franchise.
Sharon DeKoning: [00:02:17] When you initially thought about this was it overwhelming, all the paperwork, jumping into the franchise? What were your thoughts on that?
Jamie Soucy: [00:02:26] There was definitely a lot that went into it. We had to basically vet the franchise, but they also had to vet us. We had numerous discussions, we had to look at financials, we had to look at everything from how the product gets into the store to how to use the POS system that you sell it. There was a huge amount of research and information that we had to go through.
Sharon DeKoning: [00:02:53] Did you go off site for training?
Jamie Soucy: [00:02:56] I went to Calgary for two weeks and did training. I learned about the franchise itself, I learned about the products itself. Then I spent one week in a physical store and worked in the corporate store to learn product knowledge and the day to day operations. So that was really helpful.
Sharon DeKoning: [00:03:22] Sometimes as a business owner, when we start fresh we learn on the go. We don’t know. You’re building your own systems, you’re stumbling. The learning curve is huge. Not saying franchises don’t have learning curves, of course they’re going to have learning curves, but they’re there as a support system as well.
Jamie Soucy: [00:03:52] Yes, absolutely.
Sharon DeKoning: [00:03:54] Your POS system, is it actually part of the Pet Planet franchise?
Jamie Soucy: [00:03:59] Pet Planet has negotiated, and they are the ones that deal with the POS company that we use. If there’s any issues or anything, we go through our head office, we go through the franchisor and they deal with those issues for us.
Sharon DeKoning: [00:04:31] So those are a few of the advantages, what are the other advantages of having a franchise?
Jamie Soucy: [00:04:39] It is definitely an established system. They tell you what has been successful in the past. I can refer back to them and say, I know that all the products we have in our store pass a certain level, a high quality level, of a certificate of trust. We don’t carry anything that’s below a certain quality. We don’t carry things that we don’t know where they’re sourced from or how those sources are fed, slaughtered, processed after. When people come to our store, they can be rest assured that it’s only great products that they’re getting. It’s also a sound peace of mind for myself, when I’m able to discuss that …
