In the past, best franchise opportunities were found in owning a single franchise. Many couples want to start their own business to spend more time together. If you want to work for yourself or retire to start your own business, you can begin by buying just one location. With one location, you can have more control over your time and your income. The single unit franchise still provides a wonderful opportunity for anyone today.
On the other hand, many business people want to grow a large business to protect and grow their wealth. This type of arrangement is typically called an Area Representative Program and has been growing over the last few decades. Under this type of arrangement, a business person works with a franchisor to develop and grow franchises within a specific area or region.
An Area Representative is someone who owns a successful franchise and wants to purchase more. Entrepreneurs who want to run many locations and build a larger business are drawn to these opportunities. Obviously, this takes a larger amount of investment so this type of business may not appeal to someone with limited resources. Even corporations can be involved in multiple franchise businesses today.
If you have the resources to take on more locations, you can usually count on having a more stable business. You can take advantage of cost savings by sharing some overhead and back office expenses among several locations. The franchisor will often offer reduced fees the more locations that you agree to open.
Another difference is that with a single franchise, you manage the day to day operations yourself, while in a multiple franchise business, managers are hired for each of the locations. The business skills required are different for each type of operation.
Either way, you go, you need to find the right company to become involved with. Both options involve a lot of your time and money. Be sure that you do business with people you like and trust. Spend some time with both single unit franchisees and Area Representatives to learn more about both options.
The best franchise opportunities today are both single franchises and multiple locations.
If you want to learn more about franchise opportunities, contact us today to speak with members of our professional team.
About Pigtails & Crewcuts
Founded in 2004 in Atlanta, Georgia, Pigtails & Crewcuts is a children’s hair salon franchise dedicated to making haircuts fun and stress-free for children and their parents. With nearly 50 locations across the nation, Pigtails & Crewcuts specializes in quality haircuts for boys and girls of all ages, and also hosts children’s parties. In 2010, Parents.com named Pigtails & Crewcuts one of the Top 10 Chains for Kids’ Birthday Parties. In addition, Pigtails & Crewcuts has been named to the “Franchise 500” list as a top franchise by Entrepreneur Magazine for five consecutive years. To learn more, go to pigtailsandcrewcutsfranchise.com
Michelle Holliman, Vice President of Franchise Development, 877.752.6800, MHolliman@pigtailsandcrewcuts.com