When it comes to franchising, most businesses offer two franchising options: single-unit franchise or multi unit franchise ownership. Each one comes with a unique set of advantages and is a viable option for investors seeking to own multiple franchises in 2021.
If you’re looking to join the Medi-Weightloss® family, it’s always best to know all of your options, let's learn more.
What does it mean Owning multiple franchises?
Multi-unit franchisees own multiple franchise locations, either in the same territory or across the country. While owning multiple franchises does require a larger time commitment from franchisees, it also means greater revenue potential — something every franchisee loves to hear!
The Benefits of Owning multiple franchises
The ability to quickly increase your revenue stream.
Because you’ll now be ordering equipment for multiple locations, you can buy in bulk. This will lower your per location expenses.
If you operate several locations within the same territory, you’ll likely have an advantage over smaller competitors in the area and be able to dominate the market.
What is a Single-Unit Franchise?
Like its name implies, single-unit franchise owners operate just one franchise location. This is typically the best option for people who are completely new to franchising and first-time franchisees because it’s the perfect amount of responsibility. Once franchisees are comfortable with the location they run and feel like they have a good understanding of our business model, many decide to move onto multi-unit franchise ownership.
The Benefits of Single-Unit Franchise Ownership
It’s less expensive to acquire a single location versus multiple locations at once.
All of your efforts are concentrated on one location; you can be more invested in every decision made.
Ultimately, there’s no simple answer for deciding “which is best” when evaluating single unit franchise vs multi unit franchise. It’s important for each existing and potential franchisee to research for existing multi unit franchise for sale, consider their availability, finances, and experience and make a decision that best suits them.
Existing Multi Unit Franchise Review
When people ask how we became one of the most successful weight loss franchises in the country, we give them the honest answer — it’s all thanks to our franchisees. While our patented weight loss program and signature menus certainly don’t hurt, we know that the real backbone of each and every Medi-Weightloss® is the dedicated franchisees and medical professionals who work tirelessly to give our patients the best experience possible.
Kurtis Freidag, Multiple Franchise Owner Interview
So when Kurtis Freidag of Peoria, Illinois was asked to sit down with us for an interview about how and why he got started in the Medi-Weightloss® franchise family, he jumped at the chance to share his story and insight. Below are a few highlights from his interview:
Q: What is your background?
A: “I studied business entrepreneurship at Bradley University, and got hooked up with a gentleman in Peoria, Illinois and started running a group of his companies. We got a chain of multiple Dairy Queens and [I] was in a healthcare consulting company called Kepple Healthcare Consulting.”
Q: As a multiple franchise owner, what is it about franchising that appeals to you?
A: “The fact that most things are in a turn-key business model. You’ve had a group of other successful individuals figure out a business model, figure out how to have it operate and you’re learning from their best practices… To me, a franchise is about exploring and letting someone else make the mistakes so you don’t have to make those mistakes on your own.”
Q: What was it, in particular, that made you decide to open a Medi-Weightloss® clinic, and now what made you decide to open a second clinic?
A: “The market is huge. We were looking for something to diversify into… and obviously you travel around and you see obesity is a huge epidemic. The reason we’re getting the second one is, quite honestly, because we’ve had some financial success with the first one.”
Q: As a semi-absentee franchise owner, how easy is it to run a Medi-Weightloss® franchise, and how much time do you spend on a weekly basis?
A: “...[In] every business, you have to be present… the employees [are] the biggest spectrum to that...But if a clinic is running well it’s easy to be an absentee owner because there are so many reports inside [the] EMR system...Through using reports [you can] have a good understanding of what your clinic is doing when you’re not there...”
To watch and listen to other testimonial interviews, head over to our testimonial page!
Owning multiple franchises as a trend
In Conclusion, owning multiple franchise is a system that has the potential to increase the business target area while knowing how the system works.