Anyone who is in the franchise sector or has looked into an opportunity knows that franchising is particularly resistant to economic changes and boasts a high success ratio in comparison to a start-up business.
These are reasons why banks and lenders are so keen to help fund budding franchisees, knowing that with the right brand, franchise businesses are resilient and can go on to generate significant revenue.
But you may not know that franchising offers the opportunity to utilise a trusted and proven model to build a successful and scalable operation, as well as potentially moving into multi-unit franchising.
But what is multi-unit franchising? It is where franchisees operate multiple franchise businesses at once; this can be multiple offices of the same franchise brand, or a number of different franchise brands.
Many who progress into multi-unit franchising have already achieved success in their primary franchise venture and realise the potential in owning and operating further franchise businesses.
Within the same brand, multi-unit franchisees are able to operate the same business model at multiple sites- carrying across their knowledge and experience to bring their services or products to a new franchise territory.
Also, multi-unit franchisees can benefit from economies of scale, helping make costs lower as your business grows larger. You can centralise operations and personnel, lowering costs and easing organisation.
With ownership of different franchise brands, multi-unit franchisees benefit from bringing their understanding of the franchise sector, as well as their business acumen and success to a new business, sometimes within a familiar territory or a new one altogether.
Many who choose to invest in multiple franchises often pick complementary brands. Skills gathered from running a franchise in an estate agency may lend well to a property investment or management franchise. The same can be said for someone running a nursery or childcare franchise, their skills may lend well to a teaching or personal development franchise.
Often, multi-unit franchisees focus on management franchises or opportunities where they aren’t required in the day-to-day running of the company and can instead take a wider view – utilising their business management skills rather than sector specific skills, and be able to run their business, taking a step back from the day-to-day operations after initial set-up.
But franchisees should be careful when looking into opportunities, as some brands may not allow you to purchase another franchise brand, or to purchase a similar franchise within the same sector. For example, investing in rival franchises.
Home Instead, the UK’s leading home care franchise has been operating in the UK since 2005. We have a number of multi-unit franchisees across our network; many of whom see the market potential in an ageing population and are passionate about providing their quality homecare services in their local communities.
With a wealth of support from our 80-strong national office, franchisees are helped from the start of their journey with every aspect of their franchise – enabling them to grow a large, successful home care business.
Suhail Rehman has built up his Home Instead multi-unit franchise enterprise, currently owning seven offices across Scotland. He runs his offices through a centralised management team, being able to focus on the bigger picture whilst his team focus on the day-to-day running of the businesses.
Now employing over 400 staff and delivering home care services to hundreds of older people across Scotland, Suhail is operating a multi-million-pound business – having built a profitable, multi-unit enterprise which is continuing to grow and develop.
Not only this, but his group is leading the way in the care sector and demonstrating excellence. Suhail’s Home Instead offices are registered with the Care Inspectorate, with offices rated as excellent and very good by the organisation. Equally, they are all rated highly on homecare.co.uk, with reviews from clients, and their family members highlighting the quality of care delivered.
We want people to join our network who are enthusiastic about the care we provide, who want to achieve, have a growth mind-set and who want to run a successful business. We guide and support existing franchisees who are thinking about multi-unit ownership, to make sure it is right for them and that they are ready to move to this next stage.
Home Instead has a number of new and resale territories available across the UK.
This article comes courtesy of Home Instead the UK’s No.#1 home care franchise opportunity.
