The idea of owning multiple stores when you buy into a franchise is appealing. So why do so many people fail at it? Here are some guidelines for economy of scale that we use in our children's salons:
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For many franchise business owners who love what they do and want to continue building their story of success - sometimes owning a single store just isn't enough! And while there are certainly important considerations to think about before embarking on a journey towards multi-unit franchise ownership (which you can read about here in our article,
Tips on Becoming a Multi-Unit Franchisee), there's also a number of great benefits in owning more than one store too!
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Ask almost anyone who has opened their own franchise business, and they'll tell you that success rarely happens overnight! Building your store into a thriving business sometimes takes a healthy financial commitment, as well as patience, perseverance and of course - hard work! But after you've opened your first store, should you consider opening another? What about three or four? Or 25? In the world of franchising, with hard work and setting goals, you can achieve these dreams. But understandably, you have to make sure you don't bite off more than you can chew!
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