How can you expand your franchise network without cannibalizing existing locations?
Franchising is a popular way to grow your business and reach new markets, but it also comes with some challenges. One of them is how to expand your franchise network without cannibalizing existing locations. Cannibalization occurs when a new franchise outlet takes away sales from an existing one, reducing the overall profitability and performance of the network. To avoid this, you need to plan your expansion strategy carefully and consider some key factors. Here are some tips to help you do that.