What to Look for in a Lucrative Partnership

Becoming a multi-unit franchise owner is a great way to grow your portfolio and increase your revenue. Here’s what to look for in a multi-unit franchisor.

Why Become a Multi-Unit Investor?

Multi-unit franchising or owning multiple units within a given territory is a popular investment strategy. Initially drawn in by the combination of low buy-in costs and opportunities for the significant financial gain of owning a franchise, entrepreneurs often choose to strengthen their portfolio with a system and roadmap they’ve had success with. ?

Owning multiple franchise locations can often mean a safer investment, since a diversification of investments means relying less heavily on one location for primary revenue. The bottom line is that multi-unit franchises present scalable opportunities for small-business owners to grow their wealth with the backing of a strong franchise system.

In addition to more significant financial gain and security, multi-unit franchise owners often receive discounted franchise fees for every unit developed after the first one. This benefits both the franchisor and franchisee by facilitating control over a particular territory, ensuring the proliferation of the brand.

One of the many reasons entrepreneurs are drawn to franchising is their ability to have a better work life balance. Multi-unit ownership further supports that goal by allowing owners to hire strong teams to run their businesses at various locations, freeing them from the day-to-day managerial responsibilities faced by most independent business owners.

Single Franchisor vs. Diversification

Perhaps one of the biggest questions to ask yourself when considering multi-unit ownership is whether to stick with one brand or to diversify with other franchisors. Branching out with various brands offers the potential to buy in with complementary, neighboring brands, balance your revenue if you are franchised in businesses that operate seasonally, or invest in companies that appeal to your interests or different skillsets. However, it also requires a great deal more investment, both in terms of time and money. Diversifying your portfolio across multiple brands and industries can also help mitigate your overall risk if one industry or brand gets impacted by factors you can’t control, you have the other brands to keep your portfolio performing well.?

Most seasoned franchisees will begin by developing multiple locations with one brand then diversify once they’ve built an infrastructure of support behind them.

Choosing The Right Brand Partner

If you’re looking to own multiple locations with a single franchisor, you are making a significant investment in that company. You should not only believe in their mission but, is able and willing to support you and provide you with all of the tools you need to succeed long-term. Some things to consider:

Brand Strength. You want to become a multi-unit owner with a franchisor that inspires trust, loyalty, and excitement. You are looking for a brand that has a good reputation among both its customers and existing owners and is actively pursuing new territories while continually supporting its existing owners.

Leader in a Recession-Proof Market. Partnering with a brand that holds a strong presence in a recession-proof industry ensures that they will be protected across the board with the backing of a steadfast model.

Industry Growth Potential. In addition to being recession-proof, you want to choose a brand that has made itself a standout in a popular market and has the innovative capacity to grow with shifts and trends while remaining true to its core mission.

Begin Your Adventure With Scenthound

Recently ranked by Entrepreneur as a franchise positioned for growth, even in uncertain times, Scenthound is thrilled to provide like-minded investors the opportunity to own multiple franchises with our burgeoning brand. As the nation’s first wellness-focused, membership-based dog grooming franchise, Scenthound has upended the traditional grooming space in an industry that is projected to be worth $281 billion within the next two years.

With exclusive territories available across the country in prime markets, our established franchise system provides multi-unit investors with the highest level of expertise, training, and ongoing support to help you become a leader of the pack.

If you would like to learn more about franchising opportunities in your area, please visit us .