The right support team can make or break a multi-unit franchisee.
No man is an island – not even an entrepreneur. While the buck stops with business owners, successful franchisees know having the right support team in place can make all the difference. This goes double for multi-unit operators.
With that said, here are some key roles to keep in mind when you begin building out your support network.
Filling your franchise attorney role should be priority No. 1. An experienced franchise attorney will be able to assist you with the industry-specific issues franchisees deal with day in and day out. While legal help is always important for business owners, it’s essential to employ someone who understands the unique complexities of the franchise world. These issues will only get more complex when multiple locations are involved.
Multiple units mean more profit potential, but they also translate to increased number-crunching necessity. An accountant with industry knowledge will be able to review your systems and evaluate everything from financial risk across your franchise locations to projected profits. Dealing with multiple units requires a higher level of financial finesse, so keep that in mind when growing from a single-unit business strategy.
Finding the perfect spot for a single franchise location can be difficult enough – imagine the challenge in securing multiple prime business sites. Finding a solid real estate professional who has experience in the franchising world will significantly streamline the process, as this individual will be able to find you the locations you need without you having to hold their hand every step of the way. Time is a precious commodity in the multi-unit franchising world, so employing someone who can save some of yours is key.