Owning more than one franchise unit can lead to great success if you pick the right brand and follow in the footsteps of other profitable multi-unit franchisees.
Moran Family of Brands franchises a stable of concepts in the aftermarket auto industry. The company specializes in being a one-stop-shop for car owners by offering franchise co-branding options to provide extra services for customers. Moran operates more than 120 locations across the country, and offers opportunities for multi-unit ownership. Operating more than one location will generate more income and provide the revenue diversification many business owners need. Owning more than one location means you are not putting all your eggs in one basket. Multi-unit franchisees don’t need to rely on one location to generate revenue, which can make them a safer investment. Operating costs also decline as you open more locations, and many franchisors offer discounts on fees and royalty breaks for multi-unit franchisees.
For new franchisees working diligently to open their first location, adding additional units may seem insurmountable. But being a successful multi-unit franchisee is within reach. Here are some tips to help you succeed as you scale your business.
- Choose the Right Franchise. Choose a franchise that is scalable and offers the ability to achieve success as a multi-unit operator and has the appropriate areas available for expansion. Make sure you understand how the franchisor supports multi-unit operators. Do they have the level of software, operational systems, owner training, and tools to enable you to expand? Before selecting your franchise, spend time talking to existing multi-unit franchisees to determine if the brand is the right choice. Understanding their best practices and challenges can help streamline your path to success.
- Follow the System. Franchisors offer a proven business model with a system designed for success. Multi-unit operators can succeed by following the system provided by the franchisor. Systems allow owners to manage locations from afar and give employees structure. Multi-unit franchisees who embrace the system and learn how to properly manage it will generate profits.
- Devote Resources to Hiring. As a multi-unit operator, you can’t be in every location at the same time. You need to make sure the people you hire can get the job done and provide the level of customer service you strive to achieve. The better you screen potential candidates and the more time you devote to training them will ensure they achieve success. While you can’t be everywhere at once, it’s important to be hands-on and present in your locations regularly to set an example for your employees and help your business thrive.
- Pay Attention to the Numbers. Operating more than one location can generate higher profits, but it’s not without risk. Make sure you crunch the numbers and understand how long your locations will take to turn profits, so you do not expand too quickly or get overextended. Having a solid grasp of long-term finances and goals will enable you to scale your business reasonably and profitably.
Operating a multi-unit franchise is profitable and within reach with Moran Family of Brands. The company offers co-branded locations to enable each unit to be a one-stop shop for car repair. Our multi-unit operators typically have sales and management experience. They have an entrepreneurial spirit as well as the confidence, self-assurance, and ambition to succeed. Above all, they are committed to providing superior customer service at each of their locations.
If you are considering becoming a multi-unit franchise operator, visit Moran Family of Brands for more information.