Franchione was born in Girard, Kansas. He received his bachelor of arts in 1973 from Pittsburg State University in Pittsburg, Kansas. Franchione and his wife, the former Kim Kraus, began dating after he took her on a tour of his alma mater, Pittsburg State, at the request of her father. They married shortly after, in 1977, while living in Peabody, Kansas. The couple have two daughters, Elizabeth Ann and Ashley Renee. Brad Franchione, his son from a previous marriage, was the head football coach at Blinn College prior to his current position with his father at Texas State. Brad and his wife, Rebecca, have three children.