Many ambitious individuals with entrepreneurial spirits are intrigued by the concept of multi-unit franchises. This business model, when used well, allows for strategic growth and exciting profit opportunities. It also comes with its own set of challenges and downsides. Learn about the specifics of this business model and how to find the right franchise opportunity for your goals.
What Are Multi-Unit Franchises?
A multi-unit franchise is a business model in which a Franchise Owner runs more than one location. By opening various stores under the same brand, Franchise Owners ideally have the opportunity to expand their profits and reach more customers.
This is a great option for Franchise Owners who have experience running a successful franchise and are ready for a new challenge that allows them to further benefit from their expertise. With Rush Bowls, Franchise Owners can begin by running one franchise location, and later expand to multiple units. With excellent ongoing support and training from Rush Bowls, Franchise Owners can realize their full potential and grow to their heart’s desire.
Multi-unit franchises allow Franchise Owners to grow and scale their business, providing consistency in their community and upscaling their earning potential. Learn how to identify opportunities for the best multi-unit franchises.
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What is Area Franchise Development?
Many lifelong entrepreneurs, ambitious Franchise Owners, and savvy businesspeople eventually consider whether area franchise development would make an exciting next step in their career. In order to make this decision and pinpoint the right area development franchise for your goals, it’s important to understand the details of these agreements.
Benefits and Challenges of Multi-unit Franchises
As with every business model, multi-unit franchises have benefits and challenges. Entering this journey fully aware of its implications is critical for setting realistic expectations and appropriately preparing before you open your own franchise in your local area.
Benefits
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Multiple Revenue Streams
In the world of franchising, profits are never guaranteed. However, running multiple locations gives Franchise Owners additional revenue streams and an increased potential for profit. This helps reduce the risk of franchise ownership because, instead of putting all your eggs in one basket, you’re spreading your efforts across multiple locations. Especially in markets with high demand, running numerous sites can exponentially increase profit.
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Streamlined Operations
Becoming a multi-unit Franchise Owner is a smart way to apply the concept of economies of scale. You’re already putting in work and budget to market, staff, and manage a brand — why not put those hours and dollars to work for two locations?
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Challenges
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Increased Investment Requirement
One of the obstacles keeping business-savvy Franchise Owners away from this business model is that owning multiple units also means taking on higher costs. Both in terms of the upfront investment to become a Franchise Owner and in ongoing operating costs, running various locations means multiplying your financial responsibility. While the goal is for these investments to turn into exciting profits, there are no guarantees, and some Franchise Owners are not ready for the extra investment this business model requires.
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Higher Skill Demands For Franchise Owners
In addition to higher cost requirements, running multiple franchise units also demands higher efficiency in operations. While many aspects of running multiple units allow you to leverage the same amount of work for multiplied returns, some aspects cannot be streamlined as easily and will require additional hours. Skilled Franchise Owners often enjoy this challenge and view this as a benefit. On the other hand, those who are barely dipping a toe in the waters of franchise ownership may choose to get a feel for a singular location before jumping into multiple units.
Become a Franchise Owner with Rush Bowls
One of the most important questions for those considering Franchise Ownership is: is there demand in your local area? Franchise Owners with Rush Bowls tap into the $1 trillion health food industry. The impressive demand for Rush Bowls products makes franchise ownership a strong choice for business-minded individuals seeking to join a growing industry. What’s more, the simple operation behind Rush Bowls stores means that taking on multiple units can remain streamlined and simple.
With outstanding support for all Franchise Owners and an intentionally scalable business model, Rush Bowls provides an ideal avenue for becoming a multi-unit Franchise Owner. Get started today!
