January 22, 2013 | By Ryan McRorie |
Multi-unit franchising sure has a nice ring to it. Especially if you happen to be the franchise owner of 3-4 units. It’s a stunning visual.
You can drive around and see what you own. That could be why a lot of prospective franchise owners get quite energized when looking at opportunities. They picture a growing business, and with it, multiple locations.
According to an independent research firm, (FRANdata) 52% of all franchises are now multi-unit operations. The top 50 multi-unit franchisees increased the number of units they operated by 10% between 2005 and 2007. Fast food continues to be the most popular industry, claiming 35% of all multi-unit franchises, with the restaurant, beauty and baked categories each capturing 28% of all multi-unit operations.
Multi-unit business owners seem to be able to create some wealth, too. A 2007 research study by the Small Business Administration showed that multiple business owners still appeared to be the most prosperous small business group, with nearly three-fourths of them classified as high income and nearly one-half classified as high wealth. (But that did vary a lot during down times in our economy.) Here’s the SBA report.
That said, how do these multi-unit franchise owners tie it all together? The smart ones choose a retail & restaurant management solution like WhenToManage; a perfect example is Rocky Mountain Chocolate Factory.
“During our most recent evaluation of in-store IT we recognized that, with the introduction of variations in the RMCF brand, a one size fits all POS solution was no longer an optimal solution for our organization,“ said Key Jobson, Chief Information Officer, Rocky Mountain Chocolate Factory, Inc. “That’s when we took a step back and realized we no longer need to be restricted to a single POS solution and that vendor’s retail analysis and reporting tool set. After reviewing options in the marketplace, we selected WhenToManage for its ability to work with many certified POS systems, while meeting our consolidated data and analytical operations needs on a corporate and store-by-store basis.”
WhenToManage’s data collection and business intelligence tools will be used by the corporate marketing, finance and operations executives to monitor daily performance and strategic trends. It will also allow the management team to foster collaboration and the sharing of best practices among operators.
To learn more about WhenToManage retail and restaurant management solutions, contact Walker Thompson at email@example.com or check out our Youtube page.