This my fourth and final installment of my series that busts 4 great myths of multi-unit expansion.
Myth #4: It Takes Less Franchisor Resources to Support a Multi-Unit Six-Pack than Six Single-Unit Owners
Multi-unit owners are not buying a job, they are investing in a portfolio and expect to earn impressive returns on their investments. While they may have good business savvy, they expect the franchise model to work for them and typically rely heavily on franchise resources (including support teams) to train and support their operations staff. Support teams work with non-owner location managers who are not “invested” and may not be as motivated as single-unit owners doing the same job. And non-owner managers leave. Turnover in operational management requires additional training and support that would not be needed in an owner-operated location.
Thanks for engaging in this series! Gain more insights from your peers at IFA 2020. There’s an all-new advanced financials session that qualifies for 200 CFE Education Credits you won’t want to miss!
ICFE Special Session on Successful Multi-Unit Expansion
My colleagues and I will be presenting a full day session entitled: Advanced Financial Essentials: Driving Profitable Growth Through Multi-Unit Expansion at the Institute of Certified Franchise Executives special sessions on Saturday, February 8th at the IFA conference in Orlando. If you are seeking to expand your network through multi-unit ownership, I encourage you to join us!
Follow this link for more details and registration options: