Multi-Unit Strategies - Divide & Conquer
The need to grow from hands-on management to influential leadership is a challenge every franchisee must overcome on their way to becoming a successful multi-unit operator. Though the journey is different with no one-size-fits-all approach, there are well-trodden paths to making the transition from day-to-day management to strategic leadership. Successful multi-unit operators understand that the path to great leadership never ends.
We recently interviewed a number of operators who shared their secrets to making the transition from managing to leading. Here's some of what they had to say.
Tim Stokes (with partner Chris Benner) of Trident Holdings, a private equity group with 33 Captain D's in seven Southeastern states.
Complementary skill sets
Transitioning to a leadership mindset can be easier when leaders cultivate complementary skill sets, which is the case with Tim Stokes and Chris Benner of Trident Holdings, a private equity group with 33 Captain D's in seven Southeastern states. The 2015 launch of Trident merged Stokes' banking and investment management expertise with Benner's substantial foodservice experience. Tight, "buttoned-up" operations allowed for rapid growth to quickly follow. These days, Trident is Captain D's largest franchisee.
"We have a great team. We decided early on that each one of us would focus on our respective areas of strength," says Stokes, Trident's chief financial officer. "This allowed Chris and me to learn a great deal from each other. I think it's made us both so much better."
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