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How to Know When You’re Ready to Expand
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Expansion sounds exciting, but Lauren Fernandez explains why adding locations before you’ve dialed in your model can destroy your business.
Takeaways:
- Avoid expansion until your first unit is fully profitable
- Validate your model with multiple locations before franchising
- Use early expansion to experiment with formats and fine-tune operations
Want to connect directly with industry thought leaders like today’s guest? MAJC has built a community of hospitality professionals, where insights and tools help drive sustainable, profitable businesses. To get early access to the MAJC community, sign up at www.MAJC.ai.
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