WatchMeFranchise.com, a blog sponsored by RDTC Inc., posted an interesting article last week on reasons why it is beneficial to be a multiple unit franchise owner. Check out a portion of the article below, or check out WatchMeFranchise.com for the full version.
1. More Profitable
The biggest reason to open multiple units of a franchise is because you have the opportunity to make much more money. There is only so much money to be made from owning a single location, but if you begin to expand then the income possibilities are essentially limitless.
2. Franchise Incentives
Depending on the franchise you own, there may be incentives offered by the franchisors for owning multiple units. Incentives could be a reduced price, free services for your store, or even prime store locations. Franchisors will usually offer these incentives for multiple-unit owners, as it saves them time and money as well for you to have multiple locations.
3. Advertising Savings
If you own multiple franchises, you can save on advertising by running one set of ads, but providing two (or three, or four, etc.) contact sections. You have probably seen this in ads all over the place, but had never considered it as an advantage to the franchise owners.
4. Multiple-Unit Management
Managing one store can be hard enough at times; so many people get quite concerned about the idea of managing multiple stores. However, most multiple-unit franchise owners will decide to hire a store manager for each location. That way, as the owner, you become more of an over-seer and will not need to handle as many day-to-day operations.
5. Higher Success Rate
It has been proven that multiple-unit franchise owners have a much higher success rate than that of single-unit owners. While all franchises have a statistically higher success rate than other small businesses, multiple-unit franchisees have an even higher success rate.