The latest buzz word in recruitment is ‘Multi-Unit Franchising’ but what does it really mean? What are the benefits to the franchise system and what systems need to be in place?
Over the past year the concept of franchisees with more that one franchise has become very popular. With the current economic climate causing banks to maintain a tighter lending profile, recruitment for new franchisees has become very difficult. A number of systems have reported that by looking internally and expanding franchisees from one outlet to two and even three to four, has not only reduced the time taken to find franchisees, but have stated that by knowing the person already involved in the business has made it easier to manage overall and has reduced the risk. However, if you are looking to expand and become a multi-unit franchisee here are some questions that you should consider:
- How hands on do I need to be in the operations?
- What people do I need to have in place to run multiple operations well?
- What expectations does the Franchisor have of multi-unit franchisees?
- What will be the impact on my current operations – financial, resources
- Do I need to do any retraining with the Franchisor to ensure that I remain current with the franchise systems and procedures.
- What technology do I need to have to enable me to better manage the businesses
- What have I learned from other multi unit franchisees in the system?
The benefits can be rewarding over the long run and with expansion also bring excitement!!! Once you have decided to take on another store or location, your people become even more critical to your success. The old saying ‘you can’t be in two places at once’ becomes very real and you need to trust in your people even more and let go at times.
Multi Unit franchising is the way of the future as more and more franchise systems move away from tradition methods of recruitment.
For more information on winning Multi Unit Franchising, please Click Here to contact Mark Fernandez, Director of Business Development Alliance
