Multi-unit ownership involves owning and operating multiple franchise locations - whether with our franchise brand or several. With data showing that around 97% of franchisees have reported turning a profit for more than 20 years consecutively, becoming a franchisee is an attractive prospect. We hear from three of our franchisees, at different stages in their multi-unit ownership journey with us. They share their tips for multi-unit ownership, for anyone considering their first steps in franchising or those looking to expand their current business portfolio.
1. Strength in numbers
Owning a large multi-unit portfolio, including eight of our territories, Chris Wyle focuses on the importance of building a strong team. "I think working to the premise that the speed of the leader determines the pace of the pack, team members who excel show others what is possible and encourage them to strive for more. In doing so, this raises productivity and standards of our work. When we consistently deliver excellent results and provide an exceptional service, it enhances our reputation and builds trust with students and prospective students - our customers.
"We are an education provider, so a team that is committed to providing excellent customer service is essential. Satisfied students are more likely to become repeat customers and recommend our service to others. A team that is well trained, motivated and student-focused plays a significant role in building loyalty.
"What's more, a capable and reliable team means you can delegate tasks and responsibilities – it frees up time for you as a leader to focus on strategic initiatives and high-level decision making. As successful businesses constantly evolve, strong and adaptable teams ensure you can remain competitive. A strong team is more likely to embrace change and adapt to new technologies, market trends and customer preferences."
2. Prioritise customers and community
Opening multiple centres in Ireland, Tomás Finneran emphasises the importance of realising the lead time for your business launch. "While the initial investment for my equipment, staff and marketing is a key consideration, it can take between 6-12 months or more to be fully operational and to begin building up a good reputation. It's crucial I was prepared for an increasing footfall and enquiry levels as I established my business." While it may be tempting to do a soft launch, Tomás suggests opening when all systems, processes and staff are burning on all cylinders. "I think word of mouth is a huge factor in business success, so ensuring we are offering an exceptional customer experience, with all services open and operational, gives us the best chance of a positive recommendation.
"Investing in a franchise means you can benefit from a well-established and recognised brand, but the importance of local marketing must not be underestimated. Understanding my target market, leveraging local advertising opportunities and actively engaging with my prospective students are essential activities.
"Local marketing efforts, when executed successfully, can generate positive word-of-mouth referrals and recommendations. Satisfied customers - for us, our students – who have a positive experience with a local business are more likely to share their experiences with friends, family and colleagues within the local community. I believe recommendations are powerful and can significantly influence the decision making of potential new students for my business."
3. Maintain and monitor
Having recently opened a second centre, Dip and Neil Khakhria are just at the start of their multi-unit journey but they already emphasise the importance of making decisions based on strategy. "While it can be tempting to open an additional location when a first is doing well, we believe monitoring financial performance closely ensures our business decisions are data driven."
After opening one training centre and realising its success, Dip and Neil waited approximately 18 months before opening their second centre. "Taking this time meant there was less risk attached to our expansion. We set clear metrics and with analysing data, you can assess the effectiveness of your strategies, initiatives, and investments. This allows us continuous improvement and course correction when necessary.
"Data analysis has allowed us to identify patterns, trends and correlations within our operations and external factors. These insights helped us identify opportunities, anticipate market changes, understand customer preferences and optimise business processes ahead of opening our second centre."
Multi-unit franchising allows our franchisees to grow their business more rapidly by opening more of our training centres. It offers an opportunity for expansion and scalability, allowing us to tap into different markets and increase our revenue potential as a business. With careful planning, management and a strong understanding of the specific franchise system, multi-unit ownership can significantly increase revenue potential compared to operating a single unit. With multiple revenue streams from different locations, our franchisees have the opportunity to generate higher overall sales and profitability.