Once someone becomes a franchise business owner, the first goal is to break even and generate positive cash flow.
After that, adjustments to marketing, operations, and personnel are often made to tweak the business and have it reach a steady state.
Then many franchisees are ready to grow or scale their business. What options do they have? There are several.
They can REINVEST in their existing business to add more vehicles, equipment, technology, and/or team members to grab additional market share.
After this, ADDITIONAL TERRITORY may be opened. Owners of multiple territories are called multi-unit owners.
Some franchisees expand their business portfolio by adding another brand. This can be from the parent company or another franchisor. This strategy is called STACKING.
To learn more about Growth Strategies in franchising, check out this Franchise Alert.
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