Ready to kickstart your dreams of business ownership by opening a franchise? Read more to understand the difference between single-unit franchise ownership and multi-unit franchise ownership, plus the five keys to finding success with single-unit business ownership.
Single-Unit Franchise vs. Multi-Unit Franchise
While multi-unit ownership is rising in popularity in the franchise world, a single unit is still the primary way people dive into the industry. Each side has many benefits and downfalls, so it’s essential to pick the one you can manage and thrive in.
As a single-unit owner, you build a direct relationship with the franchisor because there’s no go-between. The franchisee will almost always be the operating manager of the location in single-unit franchising. Whereas, in multi-unit franchising, each location typically has a manager who reports to the franchisee or a general manager who oversees multiple locations and reports to the franchisor.
Single territories are also cheaper to obtain. While a single location is more affordable than buying multiples at one time, owners sometimes still take drastic measures to go into business for themselves with a single unit. For example, they might take out a second mortgage or use their retirement savings. Because of this, these owners are more motivated to flourish because they have more on the line. Meanwhile, franchisors typically put less pressure and expectations on franchisees with just one unit. Most companies understand that single-unit owners grow at a slower rate.
1. Be Involved
The benefit of owning a single location in a franchise is your chance to get involved in day-to-day operations. Besides acting as an owner, you’ll have more of a general manager role. You’ll increase your chances of success by being a part of staffing and money decisions, observing customer service interactions, and performing quality control. This role will allow you to spot any issues immediately and stop them from becoming more significant problems.
At Mosquito Authority, this is what we ask of you. We believe owners can come from any walk of life, as long as you’re ready to work hard ;we have the systems and procedures that can help you build a flourishing business.
2. Act Like a Business Owner
While you’ll play a general manager role and involve yourself with some day-to-day operations, you’ll still want to maintain a business owner mentality. That means working ON the business, not in it. So, continuously think big picture and leave minor, detailed roles to your managers.
Remained focused on the end goal. Don’t let yourself get bogged down by minor setbacks. Having a solid business strategy can help with staying focused. An engaged business owner creates an approach that takes their business from good to great. A benefit to franchising is that the brand usually has a proven system and strategy ready for you to follow.
3. Follow a System
The mention of a proven system and strategy leads to the third key to finding success — the ability to learn and follow a system. While opening a single franchise to become your own boss, you need to take advice from the franchisor. Remember, you’re investing in the brand for a reason. Suppose you performed your research before investing in a brand. In that case, you can entrust them with helping you accomplish your business dreams. They most likely have dozens of locations, some that have failed and some experiencing wild achievement. Listen to what they say works and what doesn’t.
4. Effective Communication Abilities
There is no such thing as over-communicating. As a single-unit franchise owner, you’ll want to think of your location as one cohesive team. Ensure that business runs smoothly even when you’re not there by detailing and clearly stating everyone’s roles.
The need for quality communication goes beyond your employees. It also involves customers, creditors, the franchise, and your mentors. Communication goes for ALL avenues, from in-person conversations to e-mail and text messages. You’ll improve your business’s customer experience and, in turn, build a positive reputation in the community by having quality communication channels.
5. Marketing Skills
You’re your first salesperson. Whether you’re marketing yourself to the franchise, investors, potential employees, or the public, you’ll need to sell the brand and the product or service. This is especially true in the service industry. The benefit of buying into a franchise is operating under a reputable name consumers recognize and have marketing strategies in place. But it’s your job to localize and integrate yourself within the community to drive in new local consumers that are maybe unfamiliar with the brand.
Start Your Own Single-Unit Business with Mosquito Authority
If you’re looking to break the monotony of your day job and go into business for yourself, check out what pest control businesses are for sale. Owning a single location of Mosquito Authority is the perfect place to begin business ownership. Take these five keys to success and unlock a future that you’re in charge of. So, help your community take back their yards from pesky insects today by contacting us to learn more about our franchising opportunity.