Become a Multi-Unit Franchise Owner: 3 Must-Have Tips

Not long after you open the doors and settle into success with your first franchise business, you may aspire to open additional locations. After all, the benefits of multi-unit franchise ownership could include increased profits, efficiency of sharing resources across multiple locations, reduced fees, and royalty breaks ?with the franchisor.

As you consider the next step in your progression, it can be helpful to weigh the intriguing opportunities with the additional responsibilities to be better prepared for the road ahead. Consider these tips for multi-unit franchise management success.

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What is a Multi-Unit Franchise, and What Are Your Options?

Franchising offers a dynamic opportunity for entrepreneurs to expand their business footprint by owning and operating multiple franchise units, while leveraging their experience and hard-won success toward additional ventures. It also asks the new owner to dig deep into their goals and self-assessment: Can you own more than one franchise within the same brand? Can you own a complimentary franchise and brand in the same industry?

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Multi-Unit Franchises within the Same Brand

When you own more than one franchise business under the same brand, this is considered a multi-unit franchise. Traditionally, multi-units are multiple store locations, but for home services this may mean a centralized office in each location that allows teams to cover an area.

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Multi-Unit Franchises Across Complementary Brands

Multi-unit franchises across complementary brands involve a franchisee owning units of different franchise brands that complement each other in products or services offered or have non-correlated revenue streams. This strategic approach allows franchisees to meet various customer needs under one operational umbrella, enhancing convenience and service quality and diversification within their franchise portfolio.

Complementary franchises, such as plumbing and HVAC services or landscaping and home cleaning or even lawn care and pest control, can provide comprehensive solutions for homeowners, and expanded revenue-per-customer potential for franchise business owners.? This expands their customer base but also increases opportunities for cross-selling and upselling services for both existing and future customers.

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Neighborly? Brands That Make Great Multi-Unit Franchise Options

As you consider which franchise brand to begin your business ownership journey , you may wish to choose an option that works well for multi-unit growth within the brand and that also coordinates well with complementary brands. These brands are popular for both options:

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Molly Maid?

Molly Maid is considered a top multi-unit franchise brand by Entrepreneur.com . As a multi-unit franchise owner of a Molly Maid business, you can open additional locations within a city or region with low start-up costs, providing comprehensive cleaning services to more households.

Each unit can help you maximize service coverage and operational efficiency, while catering to the unique needs of your clients in the expanded service area. Molly Maid works well with many other Neighborly brands and is a great option for franchise owners considering multi-brand ownership.

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The Grounds Guys?

The Grounds Guys provide services that make the outside of homes as lovely and functional as the inside. As you expand your landscaping business, it may make sense to add additional territory locations to your business. With the increase in territory comes the increases in jobs, employees, and equipment. It’s important that you scale at a pace that makes the most sense to you.

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Dryer Vent Wizard?

Dryer Vent Wizard franchise owners are in a niche market that provides the opportunity to build a larger client base. Dryer Vent Wizard offers great scalability for someone looking to own multi-units and is also a great complementary option for someone looking to expand to multiple brands.

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ShelfGenie?

With a?ShelfGenie franchise, you can help homeowners make the most of their spaces, adding organization and optimization to efficiency and presentation. By adding additional units to your ShelfGenie, you can increase your service area and access more customers that may be interested in your product.

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Five Star Painting?

Five Star Painting is built for growth with a business model primed for scale with you. Multi-unit ownership with Five Star Painting gives you the opportunity to expand your reach and cover more territories and may even allow you to expand your service offerings.

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Tips For Franchise Management as You Expand to Multi-Units

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1. Know Your “Why”

It is helpful and strategic to understand the “why” behind your desired franchise business growth. Is it simply to make more money or increase the value of your business? Or do you wish to transition from working in your business during start-up to working on it?

When you transition to multi-unit franchise management, you must be prepared to shift your focus from the day-to-day operations to the bigger picture of growth and development. Knowing your “why” will help keep you focused and motivated, and people will see it in your actions and attitudes. Author and inspirational teacher on business leadership Simon Sinek notes, “People don’t buy what you do, they buy why you do it.”

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2. It’s All About Timing

While you have the benefit as a franchisee of following a proven system, each business under your control will have its nuances and challenges. While it’s wise to start with just one franchise, you’ll need to recognize when it’s time to expand. Taking on too much when you aren’t ready can ruin all you’ve worked so hard for.

With a multi-unit franchise comes significantly more operational duties. It is counter-productive to run two lackluster franchises rather than focusing on running one outstanding franchise location. Make sure that you have all the kinks worked out in your initial franchise so that you don’t risk spreading yourself too thin.

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3. Accept Your Leadership Guidance Role

Be ready to give up some control. As you grow, your day-to-day, hands-on franchise management will transition into recruiting the right kind of leadership team, training to your standards, and then delegating to others. Knowing when to wear which managerial hat will ensure more immediate and substantial success.

Having best practices worked out and the right technology in place will help you to empower your staff to keep the business running smoothly when you are not in the day-to-day. A skilled, sensitive, personable entrepreneur will lead their team and company to become the best it can be.

With Neighborly?, you have the support and training you need to scale at your speed to build your business or businesses. They’re also available to help develop your leadership and management skills to make you a more successful franchise business owner.

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Start With Finding the Best Franchise Business for You

Franchising truly has limitless potential, but it’s important to have the drive as well as the right resources to take on the challenges that come along with growth. In business, you need to learn to walk before you run.

To see which franchise may be a good fit for you, take our Franchise Quiz today to start your entrepreneurial journey and make your dream of business ownership a reality.?

Originally posted on Neighborly's website at: https://blog.franchise.neighborly.com/become-a-multi-unit-franchise-owner