Franchising is built for multi-unit ownership. From increased revenue potential to lower cost per location, there are numerous benefits to owning multiple franchises – whether it’s under one brand umbrella, or you’ve diversified your portfolio with several different opportunities.
Although multi-unit franchising used to be uncommon, more franchisees are favoring the multi-unit model as they realize the many advantages that come along with it. Of the half a million franchise units in the United States, multi-unit franchisees own more than 50 percent of the market share. Still, not every concept is as conducive to multi-unit growth as others.
Here are three reasons why Dryer Vent Wizard is the perfect opportunity for aspiring multi-unit operators, and how we make it easy for franchisees within our system to grow their business:
1. Move into a Managerial Role with Added Revenue Potential
Not surprisingly, one of the primary factors driving franchise partners to pursue multi-unit ownership is the increased revenue potential they can derive from owning multiple units or territories. Although the initial investment may be higher when growing your business – which we call our Executive Model – the opportunity also yields a higher potential ROI.
And, by taking on a more business management-centered role, you will not only have greater revenue potential, you’ll also have much more flexibility. You can hire as many technicians and managers as you need to handle the day-to-day, so you won’t have to worry about losing business if you take a day off.
2. Our Executive Model Makes Growing Your Business Easy
Dryer Vent Wizard’s Executive Model makes it easy for franchise partners who want to grow their business. Within the Executive Model, you can expand your business with two fully-equipped branded vans and at least one technician right away. When you’re ready to further grow your business, you can purchase additional protected territories and further scale operations.
Since Executive Model franchise partners have at least one technician, the technician and manager can easily handle daily operations while the owner is away. It’s a great option for current franchise partners looking to expand their business, have a greater presence in their market and extend beyond their starting territory.
3. Increase Brand Awareness in Your Territory and Dominate the Market
Increased brand awareness goes hand in hand with added revenue potential. Since home services concepts in particular are significantly driven by referrals and brand awareness, increasing your regional presence often translates into substantial returns.
Simply having an extra branded van in your fleet can go a long way in fostering brand awareness, and if you expand beyond your starting your territory, you can quickly dominate a sizeable regional market.
The multi-unit franchise model brings with it numerous advantages for franchisor and franchise partner alike. From greater revenue potential to increasing your brand awareness, there are many incentives, as a franchisee, to pursue multi-unit ownership or expansion.
And, with Dryer Vent Wizard’s Executive Model and inherently lean business structure, becoming a multi-unit franchise partner with a scalable, profitable business has never been easier.
