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We talk to successful multi-unit operators regularly 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 your growth?
They’re two totally different businesses. With Planet Fitness, we measure it by our growth in EBITDA. At Smoothie King, it comes down to how many stores can we open as quickly as possible and still reach that 15 to 20 percent EBITDA margin.
Where do you want to be in 5 years? 10 years?
I want to be done in 5 years. By then, God willing, I’ll have over 200 Smoothie Kings open and over 60 Planet Fitness locations. Then I’ll be done.
John Clancy multi-unit franchisee of Smoothie King and Planet Fitness
How do you measure your growth?
Through the people! If they develop and grow, that’s a success.
Where do you want to be in 5 years? 10 years?
I want to be a world-class restaurant management group that provides guaranteed advancement. I want to continue to grow very quickly through our people. If we continue to focus on our people, the growth will accelerate.
Kyle Welch, multi-unit franchisee of Cold Stone Creamery and Epic Burger
How do you measure your growth?
Year-to-year sales growth; it’s not all about how many units are added.
Where do you want to be in 5 years? 10 years?
The next 5 years will be very exciting for our team. We have seven units that we still need to grow and maintain operational excellence. In addition, we are starting a new opportunity as an area developer for Garbanzo Mediterranean Fresh, and in the next 5 years we plan to have 25 stores open or in the development stage. The 10-year focus will be to maintain our seven units and oversee the success of the 25 Garbanzo Mediterranean Fresh locations throughout Indiana, Lexington, Louisville, and Cincinnati.
Lee Kleiner, multi-unit franchisee of Dairy Queen, Which Wich, and Garbanzo Mediterranean Fresh