Lisa Plonka, partner and leader of Plante Moran’s consumer goods practice, recently sat down with StacheCow to share her top 10 tips for managing a multiunit franchise business.
In the article, Lisa gives key suggestions to help franchisees successfully plan and grow their multiunit franchise business, no matter the scale of the expansion.
“Growing from one to two units isn’t going to present the same challenges as expanding from one to five or one to 20 locations,” said Lisa. “Understanding what’s needed to manage more units and establishing the internal infrastructure to support the expected growth are critical to expansion success.”
She added that there are two common pitfalls franchisees should be aware of when expanding. “The first is hiring and monitoring staffing levels,” Lisa said. “The second area is for franchisees to understand their financial metrics and have a system in place to monitor individual locations.”
To see all 10 of Lisa’s top tips, read the full article on StacheCow.
