By: Molly Rowe
Every franchisor wants to attract a “certain type” of franchisee. Lately, the type of franchisee every franchisor seems to want is a multi-unit franchisee.
Okay, maybe not every brand wants to sell more units to fewer franchisees, but it’s something I’m hearing about more and more: franchisors looking to attract deep-pocketed investors rather than hands-on moms and pops. And it makes sense. In theory, multi-unit franchisees are easier to manage, bring in more money, and in some cases, are more satisfied with the brand overall. What’s common practice in food franchising – requiring franchisees to commit to opening multiple units as part of their franchise agreement – is now becoming common outside of food.
But attracting multi-unit franchisees and keeping them happy isn’t as easy as just changing your franchise agreement. Read the Article