How Do You Know You’re Ready to Open Another Smoothie King?Author: Smoothie King
Multi-unit franchisees are becoming increasingly common – and for good reason.
Owning multiple franchises of the same brand can be profitable and secure for savvy entrepreneurs ready to take the logical next step. Rather than focusing on the daily tasks of managing a single franchise, multi-unit franchising allows ambitious entrepreneurs to leverage their business acumen to concentrate on building and supporting their network of franchise locations.
At Smoothie King, we encourage qualified and successful single-unit franchisees to expand their portfolio, and we seek them out to more quickly and confidently grow our brand.
Here’s how you know when you’re ready to explore expanding your franchise portfolio with Smoothie King.
You Experience Single-Unit Success
Before considering opening a second, third or fourth Smoothie King, our single-unit franchisees have shown they can be successful.
Knowing you are an experienced franchisee with a strong grasp of the concept and operations and a commitment to Smoothie King’s mission and vision confirms your ability to run a Smoothie King exceptionally well. You know our brand, mission, values and operations. In short, you have shown we can be successful together.
You Have a Multi-Unit Plan in Place
Though developing a multi-unit plan is something we work on with our franchisees, it’s important that you’ve already thought about it on your own. Opening additional franchises takes time, effort and money, and it’s crucial that potential multi-unit franchisees have considered all three.
Smoothie King franchisees considering opening additional stores also need to make sure they have the resources to be successful. It’s essential to have enough capital readily available or the ability to obtain additional capital when needed to aid your expansion. While franchising offers a unique path to business ownership, having enough capital on hand while expanding your franchise portfolio provides greater security in the process.
As a single-unit franchisee, your time can be spent and focused on your one store. As a multi-unit franchisee, however, you need to develop a plan on how to properly allocate your time between your locations. While your newest location may require the most attention, it’s important to not lose concentration on your previous stores. This means having the right team in place that you trust to run your previous unit without heavy-handed oversight, considering the location of your sites and much more.
In other words, you need to invest in a management team that will facilitate your growth in overseeing multiple stores and shifting away from an owner/operator role.
You Are Ready to Help More Guests Rule the Day™
Perhaps most importantly, single-unit franchisees looking to grow their relationship with Smoothie King need to believe in our mission and values.
At Smoothie King, our goal is to help guests Rule The Day by enabling them to live healthier and more active lifestyles. This mission is ingrained in everything we do. To be a successful Smoothie King franchisee, you need to live and breathe what we believe. Our mission needs to be a driving reason for you to want to grow with our company. It’s a key element that will help you thrive as a multi-unit owner of Smoothie King.