Updated: Mar 2
Remember that ol’ green eyed monster? Yeah. You know the one.
Full of envy.
We’ve all befriended him at some point within our careers. It’s only natural. To a degree it can be rather healthy.
Multi-location businesses when run effectively can be a fantastic ‘shooting star’ with regards to a typical growth-share matrix. But hold up a moment. There’s no need to envy them though. You just need to understand them.
Multi-location businesses today continue to dominate the hospitality sector with their increased efficiency and scintillating ways of eliminating time and space into a mere puff of smoke. Hospitality franchises employ over 80,000 workers, mostly full time (1) and 52% of all hospitality franchises within the New Zealand area are now multi-unit operations (2). A pretty enlightening and warming set of statistics.
For most of these businesses – they’ve found the right formula. But that’s not to say that it came without its hurdles. Everyone takes the wrong road before they find the right one.
When a business begins to experience significant growth, often they consider expanding their business into other areas. Sometimes it’s the opening of the same business in another location, or they diversify their current brand by opening a site completely different to that of which is already established within the market.
The key is to implement systems and processes into your business the standardize the way you run your all of your locations, and most importantly; how you communicate with them all.
They learn – They learn the specific needs of each site, and cater to them. These needs should always be incorporated with your communication strategy.
They stay in touch – Irrespective of distance or time, head office is never far away – and they should always present in the running of your business.
They employ the right people – CEO’s and Directors employ strong and influential on-site managers and leaders.
They adopt new technology – They keep pace with the upcoming technological trends in the sector. Whilst this can be considered disruptive, if you’re to remain competitive within your industry it’s important to implement these new technologies and iron out the creases as they appear.
They include all of their sites – There’s an active involvement of all site leaders in company decision making.
They ensure company values – They ensure top down company values and for consistency reasons, they check in that these are reiterated at each individual site.
They benchmark – They benchmark their performance against their other sites.
If you end up cutting corners, you compromise profitability.
And you certainly don’t want that if you’re looking at turning yourself into a multi-location business.
If you would like to try your hand at aligning all of your businesses sites and exploring the financial benefits that goRoster provides, feel free to give our 14 day free trial a go here.
(1) “Survey finds franchise sector resilient and growing”. http://www.franchise.co.nz/article/1167
(2) “How the digital future can impact franchisee performance”. http://www.franchise.co.nz/article/1659/