The next step: Multi-unit Franchising
If you already own one franchise, chances are, you will at some point consider taking on a further franchise.
To quote the bfa HSBC Young Franchisee of the Year 2018, Almas Adam: “Once you experience success with one franchise, it makes obvious sense to replicate the process.”
In fact, nearly 30% of UK franchise units are owned by multi-unit franchisees, according to the British Franchise Association (bfa), and a higher percentage of multi-unit franchises count themselves as profitable or very profitable than single unit operators.
The challenges and rewards
As a franchisee of Right at Home, CeX, Dum Dum Donutterie and Wrapchic, Almas describes his journey from owning one Right at Home franchise, to expanding and diversifying with new brands and sectors, as a “natural evolution.”
While the strategy of operating more than one franchise unit might seem logical and, on evidence, lucrative, it is not without its own set of challenges.
As a multi-unit franchisee, even with multiple licenses for just one brand, you will be managing sites across multiple locations, and your staff count will of course increase.
Once you expand beyond one type of franchise, you’ll be managing business relationships with multiple franchisors and delivering different products and services to varying sets of customers.
You’ll very much move into a management position, stepping away from the day-to-day on-site operations.
These challenges also present advantages, the key ones being: diverse and multiple income streams, and more profits to invest and grow.
Is multi-unit franchising for you?
The demands and rewards of multi-unit franchising will be examined by Almas and a host of other successful entrepreneurs and industry experts at an exclusive conference event on 5 October.
The Multi-unit Franchise Conference – exclusively for existing franchisees – is co-located with The National Franchise Exhibition at the NEC. It provides a valuable opportunity to hear from both franchisees and the franchisors themselves on the recipe for success for multi-unit franchising.
Panel sessions and roundtable discussions will explore the reality of running a multi-unit franchise operation, as successful entrepreneurs share tips on everything from securing finance to sourcing premises, leveraging technology to aid expansion, to managing multiple franchisor relationships.
Representing the franchisor view, Chief Development Officer at KFC, Chris Holmes, will offer insights into what makes a successful relationship between a brand and its franchisees in his keynote presentation.
Mark Fox, Chief Executive at Roadchef, will share advice drawn from his years working as a franchisor and, now, as a multi-unit franchisee responsible for a portfolio of 178 franchises across 30 sites with an annual turnover of around £200m. Roadchef works with brands including McDonald’s, Costa Coffee, WH Smith, Chozen Noodle and Days Inn.
Mark will reveal critical areas for consideration when deciding which brand or brands to grow a portfolio of franchise businesses. He comments:
“Having worked as both franchisor and franchisee, I look forward to sharing some of my insights from both sides of the fence with the audience to help them think about what factors might be important when considering a partnership with any brand.”
On top of the presentations, the conference provides a valuable chance to network with other aspirational entrepreneurs and successful multi-unit franchisees. The conference sponsors, HSBC, will also be present to offer advice and insights.
Which brands could you include in your portfolio of franchises?
With the conference giving you the inspiration to pursue your plans for expansion, take advantage of the chance to visit an exhibition hosting over a hundred franchise brands including Vodafone, Esquires Coffee, Fitness Space, Harry Ramsden, Belvoir and Bluebird Care.
As a conference delegate you can even request the event’s complimentary and personalised PA service to arrange meetings with the brands of your choice.
You’ll find franchise opportunities with investment levels starting below £10,000 to upwards of £500,000, and premises, home and van-based businesses. Chat to members of head office teams and some of their franchisees. Every exhibiting brand is accredited by the British Franchise Association (bfa).
To secure a place at the exclusive Multi-unit Franchise Conference, please call 020 8394 5223 or email Anna.Booth@vmgl.com
Find out more and book your free tickets to The National Franchise Exhibition at Birmingham’s NEC on 5 and 6 October using promo code CAS1.
