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We talk to successful multi-unit operators constantly here at Franchise Update Media. These busy on-the-go people share great insight and wisdom with us through our profile stories in Multi-Unit Franchisee magazine. Here, from our archives, are some insightful responses from some of these franchisees.
How do you measure the growth of your business?
At a strategic level, I measure growth in terms of year-over-year same store sales and the number of units I am operating. At a tactical level, each of my managers has a development plan, and their growth is of the utmost importance to me. If they grow professionally and personally, I am successful.
Where do you see yourself in 5 years? 10 years?
In 5 years, I’d like to have 20 cafes with $20 million in gross revenue. In 10 years, 50 cafes with $60 million in gross revenue.
Emily Harrington, multi-unit franchisee of Tropical Smoothie Cafe
How do you measure the growth of your business?
Total members is the most important number to a fitness franchise. I have built both businesses to over 1,000 members, which accounts for two of the nearly 20 studios in our OTF network with those kinds of numbers.
Where do you see yourself in 5 years? 10 years?
In 5 years I see myself investing in another franchise concept. In 10 years I see myself as the area developer for a franchise concept.
Evan Latham, multi-unit franchisee of Orangetheory Fitness
How do you measure the growth of your business?
Growth can be measured in many ways. Our turnover needs to improve if we are to sustain restaurant growth. We also need to continually train our leaders. They must have all the tools to excel. We also look at our internal promotions. This is vital if we are going to continue to increase the number of restaurants we operate.
Where do you see yourself in 5 years? 10 years?
Within 5 years, I envision our organization with at least 50 restaurants. Within 10 years, I’d like to step back and hand over the reins to my partner.
Angelo Freites, multi-unit franchisee of Checkers and Del Taco