14 Apr, 2017
Unit Franchising: What is it?
When a franchisee owns and operates multiple units,
typically in the same general vicinity, it is called a multi unit franchise.
These multiple units are often run like a corporate house that has its eyes set
on long term growth.
Does it Help You?
This business model offers an entrepreneur an excellent
way of growth, while minimising the risk of having to startup and develop a new
brand from scratch. In multi unit franchising, the owner will focus more on
managing multiple units instead of working on the daily operations of a single
With One Brand
When you start expanding your franchise stores in larger
numbers, managing all of them will be complex enough. Multiple brands will only
add to the complexity. That’s why it is a better idea to stay with just one
brand at the outset. Once you have a firm foothold in the market, you can add
more brands under your multi- franchise umbrella.
Also, don’t be in a rush to add more outlets. It is always
more prudent to perfect one store before setting up the next. A larger number
of mediocre stores will not bring in more money than a smaller number of
exceptionally well set-up multi unit franchise stores.
On an interesting side note, during the last recession,
several operators of single units struggled to stay afloat. However, multi-franchises
in general weathered the storm and came out in a much better shape.
"Don’t put all your eggs in one basket”, says the adage. A
multi-unit franchise is always a safe bet during challenging times.
Franchise Popularity on the Rise
To grab the attention of franchisors, you need to show
them that you are capable of buying territory sufficient for several units and
building them up in a rapid manner. Although it is still a tight-knit
community, there are exhibitions and conferences where you can showcase what
you can bring to the table for multi-unit franchisors.
This business model is definitely receiving more attention
than it used to even a few years ago, as proved by the fact that over half of
the franchise units in the US are now multi franchise owners. The number is
higher still for franchised restaurants, where over three quarters of all such
restaurants are held by multi-unit franchisees.
For more information on the Multi Unit Franchise model, Click
Multi Unit Franchising: What is it?
Getting to be part of a franchise business is a big deal in itself. However, keeping it running smoothly and growing at the same time is a whole different ball game.
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