Multi-unit franchising is one thing. Multi-concept franchising is something else entirely. Nevertheless, it's a place--and a choice--that many franchisees love, and where they excel. These determined operators look for growth opportunities and potential across several concepts, sometimes in wildly different sectors. The multi-concept franchising model offers power in numbers (units, brands, territory, and income potential), as well as the security of spreading their risk across different concepts in a diversified portfolio.
Success in this realm requires an experienced operator with a sophisticated approach to make all the pieces work together smoothly. It demands skilled, knowledgeable professionals and team members who can operate under varying system requirements, market conditions, and consumer demands. It's not for everyone, but those who do it, and do it well, say the benefits far outweigh the risks.
This year we've updated our fourth annual "Multi-Brand 50" list with thanks to FRANdata for their latest numbers on multi-brand franchising. We've also created a list of the MU50's 25 favorite brands. Restaurant brands, of course, continue to dominate at this level. Some of the most popular this year are Pizza Hut, KFC, Taco Bell, Burger King, and Hardee's. The list begins on page 48.
Big numbers are important as a sign of success, but more interesting are the human beings behind those numbers. Each year we go in search of fresh faces to share their personal experiences and struggles on the road to their present success.
This year we tell the stories of six multi-concept operators in fields from food to technology to hotels. Their stories are unique--two are immigrants who built new lives in the U.S.--and we hope you enjoy reading each one. Here's a sample of what you'll find in the pages ahead:
Now how's that for a mix of multi-concept franchisees?
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