Franchise Collector
As a third-generation franchise owner, Margaret LeVecke has 129 franchises across multiple brands. Here's how she did it.
Buying one franchise is a big accomplishment. Buying 129 of three different brands is worthy of the franchise hall of fame. But don't tell Margaret LeVecke that. The modest 30-year-old granddaughter of Carl's Jr. Founder Carl N. Karcher got her start as a cashier, and she still likes to stay out of the limelight. That's hard to do when you own multiples of Carl's Jr. (59), Hardee's (60), and Pizza Patrón (10). She also owns three Bill's Ghost & Spirits convenience stores. And LeVecke has no interest in stopping now.
How have you dealt with the current recession?
"Our strategy has been to look at geographic areas to complement our growth. Arizona has been hit hard by the economy, but other areas of the U.S. are in good shape. This helped us with our decision to grow into the Midwest. When we evaluate various markets, we take into consideration seasonal factors such as one area that may have harsh winters and others that have hot summers. As a group, we talk about which markets are doing better economically. Right now, San Antonio is a growing market that has many communities we would like to be part of."
Why did you purchase existing franchises instead of developing new ones?
"Growing up in the business, I saw why franchises failed and knew how to fix them. It was the fastest way to establish ourselves. We knew that by getting on the ground and increasing our marketing efforts (specifically, by more community involvement) and great customer service, we could turn these units around. One of the first things we did when we bought the first restaurant in Arizona was to ensure that every customer is greeted at the door. Then we realized the other units weren't using the same customer service level, so we bought the remaining 32 units in the market."
How do you balance work and family?
"I lost my father at age 4, so my grandfather would get up many mornings at 6 a.m., cook pancakes and spend quality time with us before heading off to work. By spending this time with us, teaching us and caring for us while becoming an icon in the hamburger industry, he demonstrated how important family is as a foundation to success – personally and professionally."
"One of the first things we did when we bought the first restaurant in Arizona was to ensure that every customer is greeted at the door. Then we realized the other units weren't using the same customer service level, so we bought the remaining 32 units in the market."
Margaret LeVecke, who owns 129 franchises
