Taylor was a full-back who started his playing career with Wolverhampton Wanderers in 1936. He made his senior debut on 13 March 1937 in a 1–0 win at Chelsea. He played in the same team as his older brother Jack a handful of times, but it was only after his sibling left the club in Summer 1938 that Frank became a first team regular.
He missed just one game of the 1938–39 season that saw Wolves reach the 1939 FA Cup Final, where they lost 4–1 to Portsmouth at Wembley. The suspension of league football in September 1939 due to the outbreak of World War II effectively ended Taylor's playing career. Although he turned out in some wartime fixtures for Wolves, he left the club and playing football in 1944.
Taylor had the tough task of taking over from the long serving Bob McGrory who had been at Stoke for 31 years as a player and manager. The first act Taylor did was to erect a sign above the players dressing room which read: Are you 90 minutes fit? It's the last 20 minutes that count – train for it. In his first season Stoke were relegated from the First Division after losing their final match of the season. Taylor's main task now was to gain a return to the top tier but narrowly missed out in 1954–55, 1956–57 and 1958–59 finishing 5th three times. But after an awful 1959–60 campaign which saw Stoke finish in 17th position and could have been relegated to the third tier, chairman Albert Henshall decided that Stoke were going backwards and not forwards and so Taylor was sacked. This came as a big shock to Taylor who vowed never to involved with football again.