{"id":25627,"date":"2018-01-02T15:13:01","date_gmt":"2018-01-02T15:13:01","guid":{"rendered":"https:\/\/www.thefranchiseking.com\/?p=25627"},"modified":"2018-01-02T15:17:44","modified_gmt":"2018-01-02T15:17:44","slug":"multi-unit-franchise-owner","status":"publish","type":"post","link":"https:\/\/www.thefranchiseking.com\/multi-unit-franchise-owner","title":{"rendered":"Go For It! Become A Multi-Unit Franchise Owner"},"content":{"rendered":"<p><a href=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/victory-1526250_640.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-large wp-image-25640\" src=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/victory-1526250_640-620x465.jpg\" alt=\"go for it! become a multi-unit franchisee\" width=\"620\" height=\"465\" srcset=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/victory-1526250_640-620x465.jpg 620w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/victory-1526250_640-320x240.jpg 320w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/victory-1526250_640.jpg 640w\" sizes=\"auto, (max-width: 620px) 100vw, 620px\" \/><\/a><\/p>\n<p>If you&#8217;re going to do it, if you&#8217;re going to become the owner of a franchise, you might as well GO BIG, right?<\/p>\n<p>In other words, if you&#8217;re going to walk into your local bank to <a title=\"loan\" href=\"https:\/\/www.thefranchiseking.com\/apply-for-a-franchise-loan\">apply<\/a> for a small business loan anyway, why not ask for the moon?<\/p>\n<p><a href=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/ask-for-the-moon.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-large wp-image-25628\" src=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/ask-for-the-moon-620x584.png\" alt=\"ask for the moon when applying for a franchise loan\" width=\"620\" height=\"584\" srcset=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/ask-for-the-moon-620x584.png 620w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/ask-for-the-moon-318x300.png 318w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/ask-for-the-moon.png 640w\" sizes=\"auto, (max-width: 620px) 100vw, 620px\" \/><\/a><\/p>\n<p>You only live once, right?<\/p>\n<p>&nbsp;<\/p>\n<h2>About Multi-Unit Franchise Ownership<\/h2>\n<p>Just so you know, there is more than one way to grow a franchise business.<\/p>\n<p>You can:<\/p>\n<ul>\n<li>Add more space<\/li>\n<li>Add additional territory<\/li>\n<li>Add more units<\/li>\n<li>Add more employees<\/li>\n<\/ul>\n<p>Let&#8217;s focus on adding more units.<\/p>\n<p>In most cases, when you&#8217;re investigating franchise opportunities, you&#8217;ll know pretty quickly if multi-unit opportunities are being offered.<\/p>\n<p><a title=\"mobile phone franchises\" href=\"https:\/\/www.thefranchiseking.com\/franchise-opportunity-in-the-exploding-mobile-device-market\"><strong>This franchise concept offers multi-unit franchise ownership<\/strong><\/a><\/p>\n<p>If they <em>do<\/em> offer the chance to on multiple units, and you show enough interest, the franchise development person <em>will<\/em> share the particulars.<\/p>\n<p>The information you receive will spell out your total investment, along with a specific timeline on when each of your franchise units are expected to be up and running.<\/p>\n<p>&nbsp;<\/p>\n<h2>Multi-Unit Agreement Example<\/h2>\n<p>As a rule, your multi-unit franchise agreement will state the following:<\/p>\n<ul>\n<li>Your first store (<em>unit<\/em>) needs to be open no more than 9 months after you sign the franchise agreement.<\/li>\n<li>Your second store needs open no more than 14 months after store #1 opens<\/li>\n<li>Store #3 needs to be open 14 months after store #2 opens<\/li>\n<\/ul>\n<p>Now, your agreement could be for 3 stores-or maybe even 5. It depends on the geographical makeup of your area and your budget.<\/p>\n<p>&nbsp;<\/p>\n<h2>Go For It! Become A Multi-Unit Franchise Owner<\/h2>\n<p>If you decide to &#8220;<em>go for it<\/em>,&#8221; and sign a multi-unit franchise contract, the money you make as the owner can be good. <em>Great<\/em>, even.<\/p>\n<p>For example, if you own a food franchise, and each of your stores (3) does $400,000 in annual revenue, you could pocket $120,000.<\/p>\n<p>(<em>Based on a net profit of 10%<\/em>.)<\/p>\n<p>And if you can tighten things up-if you can <em>decrease<\/em> your operating expenses, you&#8217;ll have even more money in your pocket. But wait.<\/p>\n<p>What if you have <a title=\"free net worth tool\" href=\"https:\/\/www.thefranchiseking.com\/free-net-worth-calculator-from-the-franchise-king\">a significant net worth<\/a>, say $1 million +, and you choose a <a title=\"full service restaurant franchise\" href=\"https:\/\/www.steaknshakefranchise.com\/\" target=\"_blank\" rel=\"noopener\">full-service<\/a> food franchise?<\/p>\n<p>In that case, although your investment will be higher, <a title=\"make money with multi-unit franchises\" href=\"https:\/\/www.thefranchiseking.com\/franchise-ownership-how-cool-would-it-be-to-own-multiple-locations\">your revenue<\/a> will be higher, too.<\/p>\n<p>For instance, if each of your 3 full-service restaurant franchises does $2.5 million in sales, annually, you could have a profit of $250,000 (<em>or more!<\/em>) <strong>From each one<\/strong>. Not too shabby.<\/p>\n<p><strong>Go for it!\u00a0<\/strong><\/p>\n<p>But, make sure you <a title=\"do research\" href=\"https:\/\/www.thefranchiseking.com\/how-to-research-a-franchise\">do good research<\/a>.<\/p>\n<p>&nbsp;<\/p>\n<h2>Should You Go For It?<\/h2>\n<p>I would never suggest &#8220;<em>going for it<\/em>&#8221; unless you had good financials, buy-in from your spouse\/partner, and the enthusiasm and high-energy needed to pull off successful multi-unit franchise business ownership.<\/p>\n<p>But, it sure sounds exciting, doesn&#8217;t it?<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>If you&rsquo;re going to do it, if you&rsquo;re going to become the owner of a franchise, you might as well GO BIG, right? In other words, if you&rsquo;re going to walk into your local bank to apply for a small business loan anyway, why not ask for the moon? You only live once, right? &nbsp; [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":25640,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","footnotes":""},"categories":[32,53],"tags":[1538],"class_list":["post-25627","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-franchise-purchasing","category-multi-unit-franchising","tag-franchise-ownership-2"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Go For It! Become A Multi-Unit Franchise Owner &#8212; The Franchise King\u00ae<\/title>\n<meta name=\"description\" content=\"The Franchise King\u00ae says &quot;Go for it! Become a multi-unit franchise owner.&quot; But, should you? 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Finally, he's been in franchising close to 25 years.","email":"joel@thefranchiseking.com","telephone":"2168312610","legalName":"Franchise Selection Specialists Inc.","foundingDate":"2002-01-20","taxID":"20-1184045","numberOfEmployees":{"@type":"QuantitativeValue","minValue":"1","maxValue":"10"}},{"@type":"Person","@id":"https:\/\/www.thefranchiseking.com\/#\/schema\/person\/b560fd324f6df9be52ac875e631beb66","name":"Joel Libava","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/0c74981307dba3f4970cdf8359a1b2fc6ffe7721a2e3d1001acd9ac59db6ed61?s=96&d=mm&r=pg","url":"https:\/\/secure.gravatar.com\/avatar\/0c74981307dba3f4970cdf8359a1b2fc6ffe7721a2e3d1001acd9ac59db6ed61?s=96&d=mm&r=pg","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/0c74981307dba3f4970cdf8359a1b2fc6ffe7721a2e3d1001acd9ac59db6ed61?s=96&d=mm&r=pg","caption":"Joel Libava"},"description":"I\u2019m The Franchise King\u00ae, Joel Libava. I'm the author of two helpful books on researching and buying a franchise. In addition, I'm a Franchise Ownership Advisor with 20+ years of experience working 1-on-1 with people interested in buying a franchise, safely. Subscribe to my free VIP Franchise Newsletter.","sameAs":["https:\/\/www.thefranchiseking.com","https:\/\/www.instagram.com\/thefranchchiseking1","https:\/\/linkedin.com\/in\/joellibava","https:\/\/in.pinterest.com\/franchiseking\/","https:\/\/www.youtube.com\/JoelLibava"],"knowsAbout":["Franchising"]}]}},"_links":{"self":[{"href":"https:\/\/www.thefranchiseking.com\/wp-json\/wp\/v2\/posts\/25627","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.thefranchiseking.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thefranchiseking.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thefranchiseking.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thefranchiseking.com\/wp-json\/wp\/v2\/comments?post=25627"}],"version-history":[{"count":0,"href":"https:\/\/www.thefranchiseking.com\/wp-json\/wp\/v2\/posts\/25627\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.thefranchiseking.com\/wp-json\/wp\/v2\/media\/25640"}],"wp:attachment":[{"href":"https:\/\/www.thefranchiseking.com\/wp-json\/wp\/v2\/media?parent=25627"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thefranchiseking.com\/wp-json\/wp\/v2\/categories?post=25627"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thefranchiseking.com\/wp-json\/wp\/v2\/tags?post=25627"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}