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Sure, you gotta work, and yes, you’re an incurable entrepreneur. But owning multiple franchise locations isn’t just an incurable workaholic’s problem—it’s a really good idea, too. When people ask why you have so many franchise units, you’ll be able to extoll the reasons why multiple franchise locations make your life easier and better.
Multi-unit franchise owners either start that way or become that way. For newbies, managing a new business may seem overwhelming, and the idea of multiple locations might seem downright terrifying. But there are ways that multiple franchise locations ease your life.
You have more staff to help. More employees are assets to you. They provide experience and knowledge in all levels of your operation that can be parlayed into multiple locations. A shared labor pool expands employee ability and flexibility. And, for you, the job is easier when an ample staff can carry the load at multiple locations.
Loyal employees make growth easier. Employees can open locations and move up. This offers them incentives and increases loyalty while growing your business with ease. Loyal employees are a goldmine, and with multiple locations, you can create growth opportunities for them. Move an experienced manager to open a new franchise unit, and the assistant manager can step up at the older location. Both employees and both locations benefit and grow your business with competency.
Marketing and vendor costs go down. Once your new location is thriving, more locations are more efficient to run. Vendors already know your preferences and have a working relationship. They are happy to have more business, and you can negotiate better pricing. Likewise, marketing costs increase nominally because the same efforts can be utilized by all of your locations. The economies of scale are measurable while increasing marketing awareness and utilizing cross-marketing opportunities. More locations mean a bigger bang for your marketing buck.
Mo’ money is better. More locations mean more income. Money doesn’t solve every business and personal issue, but it can definitely make life a lot easier and business a bit more fun. That is the goal, after all—to make money. More locations help you do this well while adding the benefit of better living for you, your family, and your employees.
Time for yourself. If multiple locations mean balancing your time between them, consider them a gift of time for yourself. With a staff that is trained, your people can easily adapt to work at any location when needed so that you can enjoy life. With staffing flexibility like that, you can afford to treat yourself to a little time for yourself.
Build your confidence with a single location if you must, but take on more units later—you might find you like the experience of ease and prosperity as the owner of multiple franchises.
Anne Daniells is a co-owner of Enterprising Solutions, a professional services firm specializing in corporate communication and financial improvement for businesses where she shares decades of corporate and entrepreneurial experience—including franchise ownership—in her writings on business culture. She has authored hundreds of articles for publications including AllBusiness.com, TweakYourBiz.com, and MSN.com. Reach out via her website for more on where corporate culture, communication, and human architecture collide.