Is investing in the food industry a wise move? Does owning multiple locations guarantee profitability? In today's episode of Franchise Secrets, Erik and his guest, Raj Patel, tackle these crucial questions and more. They explore the intricacies of the food industry, highlighting the significance of unit economics and how franchisors can support their franchisees in achieving success.

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Raj Patel, the President of The Hari Group, knew early on that the corporate desk wasn't for him. Co-founding The Hari Group, Raj dedicated himself to transforming his community by opening new restaurants and spearheading real estate development projects.

His efforts have not gone unnoticed—Raj was named Dealmaker of the Year by Franchise Times and recognized as a Young Leader to Watch by QSR Magazine. Serving on the Board Advisory Committee for Dunkin' and other subcommittees, Raj owns nearly a hundred locations across brands like Dunkin' and Dave's Hot Chicken.

Ready to uncover the secrets to thriving in the competitive restaurant industry? Join us as we reveal the strategies that turn challenges into profitable opportunities, featuring insights from a franchise profitability expert.

"We don't want to open a location just to open a location. If we're going to open a location, it's got to make money financially." - Raj Patel

In This Episode:

- How Raj and his family got involved in franchising

- Balancing the number of locations with profitability

- Exit strategy and using the money to accelerate your growth

- Identifying your superpowers and hiring top talent

- How brands help their franchisees with unit economics

- Things to consider when choosing a brand to invest in

- Pros and cons of investing in the food industry

Resources:

🌐 Consult with Erik - https://form.jotform.com/222685728939070

🌐 Want to buy a franchise? Connect with Erik here - https://forms.gle/n4JedEuU5p7asE617

🌐 Want to franchise your business? Connect with Erik here - https://forms.gle/n4JedEuU5p7asE617

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Connect with Raj Patel:

💼 LinkedIn - https://www.linkedin.com/in/rajpatel22

Connect with Erik Van Horn:

🌐 Website - https://franchisesecrets.com/

📷 Instagram - https://www.instagram.com/erikvanhorn/

👍 Facebook - https://www.facebook.com/erik.v.horn/

💼 LinkedIn - https://www.linkedin.com/in/evanhorn/