1851

<div id="pastingspan1">For many small business and franchise owners, being an entrepreneur is a lifelong dream. And for most, opening their first business is just the start of cementing a secure financial future through multiple units.</div><div>&nbsp;</div><div id="pastingspan1"></div><div id="pastingspan1">When opening a franchise, new owners target markets where they have the best opportunity for success. For most franchisees, that means establishing a presence in an area where there is a demand for their product. However, for the best return on investment, franchisees shouldn&#8217;t limit themselves to one location&#8212;they should plan ahead. Considering potential expansion opportunities will result in multiple revenue streams that will yield increased revenue opportunities.</div><div>&nbsp;</div><div id="pastingspan1"></div><div id="pastingspan1">But how much territory should a franchisee purchase?</div><div>&nbsp;</div><div id="pastingspan1"></div><div id="pastingspan1"><a href="http://www.frannet.com/index.php/microsites/kfagan?utm_source=1851franchise.com&utm_medium=article&utm_campaign=how-much-territory-should-i-buy-2560" target="_blank" rel="nofollow" target="_blank">Katie Fagan</a>, a FranNet franchising consultant who works with residents throughout California, is an expert in franchising and small business. She represents more than 100 national franchises in a wide range of industries. When she works with clients, Fagan discusses myriad options, including what brands to focus on, where to set up shop and the best approach for expansion.</div><div>&nbsp;</div><div id="pastingspan1"></div><div id="pastingspan1">She said a crucial component to franchising is making sure to make the right real-estate play.</div><div>&nbsp;</div><div id="pastingspan1"></div><div id="pastingspan1">&#8220;Locking up the best markets is key to success,&#8221; Fagan said. &#8220;Owning multiple units allows franchisees to increase cash flow and grow a business you already know how to run. To me, it&#8217;s a no-brainer.&#8221;</div><div>&nbsp;</div><div id="pastingspan1"></div><div id="pastingspan1">Fagan, who recently purchased a large share of <a href="http://www.frannet.com/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=how-much-territory-should-i-buy-2560" target="_blank" rel="nofollow" target="_blank">FranNet</a> units throughout California, understands the advantage of branching out. Purchasing a large portion of the market and growing your franchise into a much larger business clearly offers advantages.</div><div>&nbsp;</div><div id="pastingspan1"></div><div id="pastingspan1">Securing a large share of territory is typically a smart investment for franchisees, but recognizing when to expand can be tricky and it varies for everyone. Fagan says a 6-to-12 month timeline with existing brick and mortar franchises is a good model to follow.</div><div>&nbsp;</div><div id="pastingspan1"></div><div id="pastingspan1">&#8220;It needs to be the right time for each individual franchisee,&#8221; she said. &#8220;They should grow their business at the pace they are comfortable with, and they need to be sure that the infrastructure they have put in place can support their expansion.&#8221;</div><div>&nbsp;</div><div id="pastingspan1"></div><div id="pastingspan1">And much like the timeline for expansion, the amount of units to open is solely based on each franchisee and their goals.</div><div>&nbsp;</div><div id="pastingspan1"></div><div id="pastingspan1">&#8220;When I work with clients, we work backwards,&#8221; Fagan said. &#8220;They need to assess the income they need to replace, how many units they need to get to that point, and what they can realistically afford. If they are looking to build a larger empire, they may look at 10 units, but some people just want to replace their income, so fewer units will suffice.&#8221;</div><div>&nbsp;</div><div id="pastingspan1"></div><div id="pastingspan1">Fagan says having locations within a reasonable distance from each other creates flexibility and a seamless continuity for her employees.</div><div>&nbsp;</div><div id="pastingspan1"></div><div id="pastingspan1">&#8220;Having five units in contiguous markets allows me to float employees from location to location,&#8221; she said. &#8220;If I cannot be at a certain event or engagement, I know I have people I can call on to take my place. When working with clients, we talk about them keeping their business close to home so they can best know the ins-and-outs from the beginning. Once they have that concrete knowledge, expansion to other markets can follow.&#8221;</div><div>&nbsp;</div><div id="pastingspan1"></div><div id="pastingspan1">So while the franchising experience may vary from person to person depending on their end goals, the concept of establishing a strong presence in any specific market is essential.</div>

1851 Franchise

When purchasing a franchise, knowing how, when and where to expand is crucial.

This brand page has been paid for by 1851. Content within this page that is paid will showcase a Sponsored icon. This means the brand has engaged 1851 FRANCHISE to write the content. Content without the Sponsored Icon is aggregated media placements the brand earned. Questions can be sent to editorial@1851franchise.com

How Much Territory Should I Buy?     

how-much-territory-should-i-buy

Atomic Wings

Milwaukee Business Journal: Atomic Wings Plans To Bring the Heat to Southeast Wisconsin

milwaukee-business-journal-atomic-wings-plans-to-bring-the-heat-to-southeast-wisconsin

Melting Pot

Melting Pot Showcases Fondue Fun and Franchise Opportunity on FOX & Friends

melting-pot-showcases-fondue-fun-and-franchise-opportunity-on-fox-friends

Right at Home

Leading In-Home Care Franchise Looks to Expand in Fort Wayne, Indiana

leading-in-home-care-franchise-looks-to-expand-in-fort-wayne-indiana

Why Melting Pot Is a Next-Level Upgrade for Existing Restaurant Operators

why-melting-pot-is-a-next-level-upgrade-for-existing-restaurant-operators

Sola Salons

Sola Salons: A Prime Multi-Unit Opportunity for Driven Entrepreneurs

sola-salons-a-prime-multi-unit-opportunity-for-driven-entrepreneurs

Buying a Franchise Masterclass

 Franchise Opportunities

Get Support Buying a Franchise

How to Buy a Franchise White Paper

How to Buy a Franchise

How to Sell Franchises

How to Grow a Franchise

Find a Franchise Supplier

1851 Franchise Opportunities

Franchisor News

Franchisor Power Rankings

FranCamp Mastermind Summit

Franchise Resources

Website Awards

Power Rankings

About 1851

Advertise on 1851

Contact 1851 Editorial

Terms of Use

Login

facebook

instagram

twitter

linkedin

youtube

PopUp Bagels Launches National Franchise Expansion with New CEO Tory Bartlett Leading the Charge

popup-bagels-launches-national-franchise-expansion-with-new-ceo-tory-bartlett-leading-the-charge

CPK Franchising - California Pizza Kitchen - 1851 Franchise

California Pizza Kitchen Is Now Franchising in the U.S.

cpk-franchising-california-pizza-kitchen-united-states

California Voters Reject $18 Minimum Wage Increase

california-voters-reject-18-minimum-wage-increase

McDonald’s Commits $100 Million to Aid Franchisees and Rebuild Trust After E. Coli Outbreak

mcdonalds-commits-100-million-to-aid-franchisees-and-rebuild-trust-after-e-coli-outbreak

Blackstone Acquires Majority Stake in Jersey Mike's, Signaling Ambitious Growth Plans - 1851

Blackstone Acquires Majority Stake in Jersey Mike's, Signaling Ambitious Growth Plans

blackstone-acquires-majority-stake-in-jersey-mikes-signaling-ambitious-growth-plans

Globalization's Effect on Franchise Expansion

globalizations-effect-on-franchise-expansion

U.S. Navy Reservist Brings Pigtails & Crewcuts to Clarksville, Filling a Community Need

us-navy-reservist-brings-pigtails-crewcuts-to-clarksville-filling-a-community-need

How Much Territory Should I Buy?

MORE STORIES LIKE THIS