EXPERT ADVICE: Eric Danver | Franchise Owner | Hand & Stone
Why Franchisees Should Consider
Growing Their Portfolio with the Same Brand
Multi-unit franchise ownership can be an incredibly lucrative career path. Whether you already own multiple units or are just beginning to look at adding more units after the success of your first, there are a variety of ways to go about growing your franchise portfolio. While a popular strategy is diversification in a different category or industry, sometimes the best path is deepening your investment with a brand you are already established with – if it is the right franchisor. 12 Franchising MAGAZINE USA
Here is why you should consider growing your multi-unit portfolio with the same brand:
Connection to your ‘why’ For countless people, taking the leap into business ownership through franchising is a big, life-changing decision. You likely did your due diligence – conducted competitive analyses, got validation from other franchisees, so on and so forth. Simply put, there is a reason why you invested in the brand you did. Was it the freedom it would provide for you and your family? Strong unit-level economics? A concept you passionately believed in? If you’re considering growing your portfolio, check in on your ‘why’ and
