Robert Pace purchased his Plano, TX Pinch A Penny franchise in 2025 from another franchisee. Robert and his wife grew up in Carrollton, TX, and moved to Plano in 1998. They both attended SMU and got married shortly after graduating. They’ve been together 28 years and have two children, Robby and Gabby. Robby runs the business alongside Robert. They manage 15 employees.
Robert is no stranger to franchising. He bought his first franchise in 2009 and, since that time, has bought, built, and sold several service-based franchises.
We got to talk to Robert about what it’s like owning his Pinch A Penny franchise.
What made you decide to look into purchasing a franchise?
I have always wanted to be a small Business owner and felt franchising was a great way to do that because it provides safeguards. Since I have been involved with multiple franchise systems, I have gotten to see some really strong ones and some that still needed more development and fine-tuning. If you partner with the right system, they will understand your market and provide proven marketing systems, operational software, and operational guidance. This knowledge and assistance help the franchisee avoid making costly start-up and ongoing operational mistakes. It also allows them to focus on growing the business and not navigating business best practices
When researching franchises, what criteria mattered to you most? How did your franchise meet that criteria?
I like stable service-based businesses. I enjoy helping customers and solving their problems. Outside of evaluating the overall financials of the system, I look at the success of current franchisees in the system. How many existing franchisees are expanding their business? How much turnover does the system have in franchisees and home office staff.
Pinch A Penny has a strong 50-year history. Their financials are strong and they have stable franchisees and home office staff.
Financing can be an obstacle and/or intimidating factor for aspiring entrepreneurs. How did you find financing options to purchase your franchise?
Mine was a resale, so I negotiated seller financing. However, typically franchise systems will have established relationships with lenders that can walk you through the process.
Which of your prior skills and experiences do you use in operating your business today?
I use my financial/audit background in managing the books and my prior business ownership and management experience to evaluate my business decisions.
During your research, did you use FBR’s website to compare franchise opportunities? What other resources did you use?
I review FBR regularly and use it to evaluate Pinch A Penny. I have also used it to evaluate many other franchise systems over the years. FBR can give you a good gauge of what current franchisees in the system think about their system
When doing your research, which questions did you ask the franchisees?
1. Ask them about their future growth plans.
2. Ask them to share their top-line revenue, GPM, and Net
3. Ask them if they are happy with the system
4. Ask them if they had to do it over again, would they?
5. Ask them about the biggest challenges they have.
Which questions did you ask the franchisor?
1. Future growth plans for the system?
2. Future growth plans for the area?
3. What is their competitive advantage?
4. What does system support look like?
5. What does system-wide marketing look like?
6. Explain your fees.
7. Do they have competing brands in the market?
What were your first 90 days like as a franchisee?
Crazy!!
The first 90 days are spent learning the system inside and out, staffing, training, etc.
At what point did you feel like you “got the hang of it” and settled in as a business owner?
I would say 90 days to start feeling a little comfortable, but realistically it takes about a year to fully understand all the systems, operating manual, etc. within a system
How does the franchisor support and encourage your success?
Pinch A Penny has a great culture. Corporate is always a call, text, or email away. When I have had a problem or needed help, they have always been responsive. Believe it or not, that is not the case in some franchise systems
What are you most proud of and why?
I am proud of the fact that we have been able to come in and grow our resale business 35% in year one and 18% in year two. I am also proud of my son and his involvement in the business. He has embraced the business and worked hard to grow and understand how to run every aspect.
What advice would you give to potential franchise owners?
Small business ownership is a lot of work but extremely rewarding. If you have the passion to own your own business and are willing to put in the hard work, then go for it.
More About the Pinch A Penny Franchise Opportunity:
Pinch A Penny is a thriving retail franchise. In addition to thriving among its customers, its franchisees are also very happy. Every year, Pinch A Penny surveys their franchisees to see how they’re doing. And the data is good! With this data, we’ve placed this brand on our best-of lists for the year:
- Top 200 Franchises
- Top Franchises for Culture
- Recession-Resistant Franchises
- Most Profitable Franchises
- Top Franchises for Veterans
