How to Know When You’re Ready to Expand

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 profitableValidate your model with multiple locations before franchisingUse early expansion to experiment with formats and fine-tune operationsWant 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.