The Franchise King® | Learn How To Become A Franchisee

growth

Most franchise owners want to.

(This post may contain affiliate links. Please read my disclosure policy).

But, not all of them do.

And, that’s okay.

 

It’s True

Just about everybody I’ve worked with over the years has told me that they’ve wanted to find a franchise that they can grow.

Growing a franchise business can be done in a few different ways:

  • Adding units-adding more locations
  • Adding space
  • Adding employees
  • Adding territory
  • Adding other franchise brands

 

Franchise Growth In Theory

In theory, and on paper, the idea of growing a franchise business can look quite appealing. (Multiplication can do that.)

Some Hypothetical Math

If one franchise location = $300,000 in gross sales

Then three franchise locations = $900,000 in gross sales

More locations = more revenue = more profit

Right?

 

Franchise Research Question

Question #34 of out my top 40 questions to ask current franchise owners is this one:

Do you have any growth plans? Will you be adding another unit, or more space?”

It’s an important question to ask, and here’s why:



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You need to know if the franchisees that you’re talking with are growing their franchises, or are considering it.

But, when you’re calling 10-15 franchisees (as part of your research) you’re going to be talking to owners that are in different stages of ownership. Some owners will be new; some will be halfway through their term, while others may be thinking of selling their businesses. So, make sure that you’re looking at each franchisee you’re calling on an individual basis. They’re all going to be different.

And, some just aren’t interested in growing their franchises.

That’s okay. Don’t judge.

I’ve found that some franchisees are quite content having one location-one money-making location.

On the other hand, I’ve talked with franchise owners that want to grow their businesses, but can’t.

If you’d like to know why…ask me in the comment section, below.

If you buy a franchise, how are you planning on growing it?

 

If you would like to increase your chances of success as a franchise owner…

Go here

 

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joel libava

I'm The Franchise King®, Joel Libava. I help prospective franchise owners avoid bank account emptying mistakes.
For 23 years, I’ve been showing people how to make smart, informed decisions on franchises to buy, and I can help you, too!
P.S. I'm not a franchise consultant/broker.

Straightforward Advice
Joel, thank you for taking the time to speak with me yesterday. It was refreshing to finally speak with someone in franchising who dishes out straightforward, candid advice. You provided me with some insightful ideas that I'm giving a good deal of thought and consideration to. I look forward to speaking with you on our next consultation call."
- John Timmins, Columbia, South Carolina
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