Multi-Unit Franchisee Magazine Issue III, 2011 | Page 59

allow you to leverage the resources of
your existing business.”
Elias seconds that notion. There’s no
point in taking on a second franchise if
it doesn’t somehow fit with your current
business, he says, as the Menchie’s dessert niche does with his Moe’s. “If you’re
selling dinner at one franchise, you might
want a lunch business,” says Elias. “If you
have a lunch business, you might want a
coffee shop next door.”
It’s key, of course, to do your homework
on a prospective franchisor, says Dev Sagar.
“Understand what their expectations are,
how people view the brand, what kind
of systems they have, how much they’ll
suppo rt multi-unit growth,” he says. “It’s
like a marriage: You need to understand
what a partner will provide you, what
compromises you will have to make, and
how you can achieve your goals in the
environment that you share.”
Sunita points out that the analysis can’t
stop with franchisors. Entrepreneurs must
look carefully at themselves, too. “Multiconcept is not for everybody,” she says. “You
need to look at your personal strengths,
at your business’s current infrastructure,
to see whether you can do it.”
Reimer agrees that adding a complementary franchise is a big decision, but
with retail space in plentiful supply, now
is a good time to take the leap. “There’s
a lot of empty space in retail centers,
so you can make a much better deal on
vacant space with landlords. It’s a good
time if you have a concept that will work
in your market.”
In fact, Reimer is mulling another addition to his growing business. His latest
hotel, a Springhill Suites by Marriott,
has a 2,000-square-foot storefront. He’s
thinking about opening a coffee franchise
there. “It would be a recognizable coffee franchise, with a door leading from
the coffee space into the hotel, as well as
storefront doors for customers from the
downtown area.”
Reimer figures the coffee business
would be an amenity not only for the
new hotel, but also for the city’s downtown. And if it works out as planned, it
would also be an amenity to his portfolio
of complementary franchise brands.

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Multi-Unit Franchisee Issu e III, 2011



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