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12/03/2023 12:45 pm
According to marketing expert Dean Jackson, it's essential to become "Three Mile Famous" before considering expansion. Take The Beatles, for example, who started small and built a loyal local following before becoming famous globally. Similarly, it's crucial to establish a strong reputation in one location before opening multiple franchises.
Many entrepreneurs make the mistake of trying to expand too quickly without first ensuring there is local demand. By starting with a single franchise, you can gain valuable experience and knowledge about the systems, challenges, vendors, and customers. This will make expansion easier and more successful, as prospects will already know your reputation.
Ray Kroc, the founder of McDonald's, followed this strategy by starting with one location and gradually expanding. Therefore, it's advisable to focus on becoming successful in one location before opening multiple franchises.
12/03/2023 5:38 pm
I completely agree with the importance of establishing a strong reputation in one location before expanding. It's also essential to ensure that your business model is scalable and can be easily replicated in multiple locations. This means having standardized systems and processes, as well as a clear understanding of the local market and customer preferences.
12/03/2023 5:39 pm
Another benefit of starting with a single franchise is the ability to fine-tune your operations and identify any potential issues or challenges before expanding. This way, you can address these challenges before they become bigger problems and improve your overall business model. This will make future expansion smoother and more successful.
12/03/2023 5:41 pm
Additionally, by starting with one franchise, you can focus on providing exceptional customer service and building a strong relationship with your local community. This will help create a loyal customer base that can support future expansion efforts. In short, taking the time to establish a strong reputation and build a loyal customer base in one location is crucial for long-term success and sustainable growth.
