Entrepreneurs know that starting small isn’t always the best idea. Although many franchisors – including Lightbridge Academy – offer single-unit franchise agreements, potential franchisees are often encouraged to open multiple units instead. Multi-unit franchising is a business model that works for franchisors and franchisees alike: the brand can grow its footprint and increase brand awareness, while entrepreneurs have more opportunities to build lasting, profitable businesses.
Considering multi-unit franchise ownership? Read on to learn more about the best multi-unit franchise opportunities.
The Best Multi-Unit Franchise Opportunities
While most franchisors do offer multi-unit agreements, some industries lend themselves better to multi-unit franchising. Let’s take a look at some of the fastest-growing multi-unit franchise opportunities.
1. Restaurants
There is no shortage of multi-unit franchise opportunities within the food service industry. Many of the fastest-growing brands exist within the quick-service restaurant (QSR) and fast-casual segments. Both formats have thrived in the post-pandemic landscape by offering consumers the on-the-go options and convenience they’ve adapted to, with QSR expected to grow at a continuous annual growth rate (CAGR) of 10.28% through 2029 and fast-casual projected to have a CAGR of 10.4% through 2032.
2. Convenience Stores
Convenience stores have long been a staple of multi-unit franchising, and it’s not hard to see why. The initial investment is often lower in cost, they’re simple to staff, and they generally have the kind of brand recognition that makes it easier to grow a customer base. This $45.5 billion industry is on a stable growth trajectory.
3. Cleaning and Maintenance
These franchises have been around for almost as long as franchising itself, but as our lives get busier, more people are looking for extra help with cleaning and maintenance tasks. While many people will be familiar with traditional maid services, these franchises can also provide specialty services that are challenging or unsafe for most property owners to do themselves, like pressure washing or gutter cleaning.
4. Senior Care
As America’s population ages, the $923.2 billion senior living industry grows along with it. In most cases, these franchises offer nonmedical in-home care, but others offer senior-focused services like help with downsizing. These are often low-cost opportunities that are easy to scale, and many brands have been around long enough to benefit from consumer trust.
5. Educational Child Care
Whether parents work from home or the office, having reliable child care is a must. Franchise opportunities within the early childhood education space help busy working families give their young children the best possible start. For example, Lightbridge Academy’s emphasis on multi-unit owners supports scalable growth and helps us stand out among the franchise options in educational child care. In fact, over 40% of our franchisees have invested in multiple units and expanded into new markets.
Multi-Unit Franchise Pros and Cons
As with any business venture, there’s a lot to consider when it comes to multi-unit franchise opportunities.
Upsides
- Increased operational efficiency and resource sharing for scalability
- More revenue streams increase your chances of profitability
- Spreading out investments and operating costs over multiple locations keeps costs lower
- Ability to establish customer loyalty in your area
- Influence within the franchise system
Drawbacks
- Higher investment
- More time-consuming
- Can be excessively stressful for solo investors
- May take longer to turn a profit
- Might not be the best choice for first-time business owners
What to Look for in a Multi-Unit Franchise
Multi-unit franchising asks more of franchisees than single-unit agreements. It’s important to know that your franchisor has the resources in place to support you as you fulfill your agreement.
Keep an eye out for franchise systems that are comprised of multi-unit operators and brands that encourage multi-unit agreements. Their business models are designed with the needs of multi-unit operators in mind.
Others will require an owner-operator model. In that case, you will need to enter your multi-unit agreement as part of an ownership team or business partnership that can share those responsibilities. Be honest with yourself, your franchisor, and your business partners about your capacity. Above all, you should understand what kind of ownership models the franchisor offers.
Lightbridge Academy: The Best Multi-Unit Franchise
With over 75% of the early childhood education centers in our franchise system owned by multi-unit operators, Lightbridge Academy understands what multi-unit franchisees need to thrive. Our model helps your administrative team oversee the day-to-day operations of each center while you take care of the business.
Your dedicated business coach will help you maintain relationships, grow your centers, and create a nurturing environment for children in your area. As long as you remain engaged, you’ll have all the resources and support you need to make your mark in the child care industry.
Contact us to learn more about what makes Lightbridge Academy one of the best multi-unit franchises.
