We purchased a profitable location in Pueblo, Colorado, despite knowing its financials were inflated by the COVID bump. Managing two locations 150 miles apart will be challenging, but with two of us, we are confident we can handle it. The lower cost of living in Pueblo will influence our marketing, promotions, and target audience. As in Aurora, we aim to foster a positive work environment, while also focusing on customer service and product consistency. The store requires updates, including a new walk-in cooler (about $26,000), point of sale improvements, and general modernization.
Business Lesson Learned: As with all business decisions, multi-unit franchise ownership comes down to money and control. If you own a franchise that operates from a retail location, the path to growth is through more development. The more locations you have, the more valuable your business becomes.