Multiple units mean multiple advantages for franchisees.
More franchise units typically mean more work, but as the saying goes: No pain, no gain. Becoming a multi-unit franchisee comes with a whole host of benefits thousands of entrepreneurs across the country have discovered.
Here are the top four reasons you may want to consider turning that single-unit franchise into a larger business endeavor.
Multiple units translate to higher profits
There’s no getting around it – taking on more franchise units can mean greater risk. However, it also ups your chances of greater reward. The math is simple: The more locations you have, the more potential sales you can make. Additionally, having multiple franchise locations can help you offset weaker sales from one area with stronger performance from another.
Franchisors are attracted to multi-unit franchisees
Franchisors spend a lot of time and energy qualifying prospective franchisees. One thing that is guaranteed to make you stick out in their minds is a willingness to spread the brand with multiple locations. In fact, some franchises focus solely on growing with multi-unit partners.
Larger teams offer more freedom
Running multiple franchise locations will require the creation of a sizeable team, from part-time employees to managers. The formation of such a team provides you with more people to delegate to, freeing up your own time to focus on the most pressing business concerns. When you run one franchise, it can feel like the entire enterprise rests on your shoulders alone. When you’re in charge of multiple locations, you’ll be forced to share the burden.
Bulk buys go further
Anyone who’s ever shopped at a big box store knows how much cheaper it can be to buy in bulk. The same holds true for multi-unit franchisees. Purchasing supplies for one location can be expensive, and while it may seem like buying supplies for multiple locations would ratchet these costs up, vendors will be more willing to offer lower prices to steady customers who buy in bulk. In this way, you can actually end up saving money overall by making larger purchases.