The Franchise Relationships Institute will be hosting its third annual Multi-Unit Summit for franchisees and franchisors on March 10 and 11 in Melbourne, to address the particular challenges of multi-unit franchising.
Research by the Institute shows the biggest internal challenges facing multi-unit franchisees include raising capital to continue expansion, keeping teams motivated and finding suitable mentors to provide the guidance they need to take on a new level of leadership.
Multi-unit franchisees are much less satisfied with their franchisor relationship and the practical support received, compared to single unit franchisees, said registered psychologist and managing director of the Franchise Relationships Institute, Greg Nathan.
ñFranchisors wanting to use multi-unit franchising as a growth strategy need to look at fresh and innovative ways to support their multi-unit franchisees and engage them constructively in the franchise system,î he said.
Franchisors and franchisees face similar expansion issues in Australia as they do in the US, according to David Ostrowe who is a keynote speaker. Ostrowe owns 12 top-performing Burger King stores in America, and has spent half his career as a franchisor and the other half operating franchised restaurant chains, staffing companies and original concepts.
As in Australia, development costs in the US risen sharply in the last several years, Ostrowe said. Combined with tighter bank leading policies, local government feasibility studies and higher value-driven consumer propositions, it is even more important for franchisors and franchisees to focus on their brand success.
Other speakers at the event include franchisors and multi-unit franchisees from Telstra, National Australia Bank, BanjoÍs, LJ Hooker, KFC, Pizza Hut and McDonaldÍs, along with experts in multi-unit operations.
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