Entrepreneur

Why You Should Make the Move to a Multi-Unit Franchise

Make the jump from one franchise unit to a multi-unit empire.
Source: Getty Images

Opening that first franchise store is hard work. It takes nerves, perseverance and resilience, and months of working all day, every day. Eventually, a thriving and sustainable small business is created. And then, you face a question you may never have thought you were ready to consider: Should you operate two stores? And then, what about three? What about 103, like Domino’s pizza franchisee Michael Orcutt? In the franchising world, there’s no limit to your ambition -- but you have to grow smartly.

“I think a lot of people come into franchising and buy a single unit because they want a job,” says Lorne Fisher, the founder of Fish Consulting, which specializes in franchise marketing. “If they get one unit and x amount of income, they’re happy. But enterprise-building franchisees must have the skills to manage multiple

Stai leggendo un'anteprima, registrati per continuare a leggere.

Interessi correlati

Altro da Entrepreneur

Entrepreneur2 min lettiPsychology
Managing Mental Illness Can Be a Team Effort
My husband, glass sculptor and artist Dale Chihuly, has bipolar disorder. He started suffering from periods of depression as a college student in the ’60s, but he wasn’t diagnosed until he reached his early 50s. That was about the time he and I met—I
Entrepreneur2 min lettiPopular Culture & Media Studies
Faq For clubhouse Skeptics
Another social media app? Do I need this? Maybe, maybe not. But like all new platforms, you won’t know unless you try. Entrepreneurs are extremely active here, and many say they see direct ROI—after speaking in a room, for example, they’ll hear from
Entrepreneur2 min letti
Build Lasting Partnerships
“We first ask any potential vendor about their sustainability practices to make sure our values are aligned. If they are, we experiment with small-batch orders to ensure that any wrinkles can get ironed out early on without affecting the supply chain