Multi-Unit Franchisee Magazine Issue I, 2016 | Page 32

“We have units located in eight states and see consistent improvement across all metrics year over year.” real estate across the U.S. That experience would add a valuable skill set to the family business, which is still actively run by his father and uncles. “The culture as a company that our family has developed over time is one that is focused on hard work, integrity, and loyalty,” says Kanji. With the company’s addition of BurgerFi and Firehouse Subs, Impact’s longterm outlook in the fast casual sector looks rosy. Kanji says BurgerFi’s focus on all-natural food and an environmentally friendly design is a winning investment. “In a crowded space, we feel that having a franchise partner with a differentiated focus and offering is critical for ultimate success. We expect the better burger space to continue to grow, particularly in Florida, where BurgerFi has a strong footprint already.” With his eye on becoming a $100 million company, Kanji says Impact Properties will continue to pursue growth opportunities with existing brands and new franchise partners. “A lot of the time the economy dictates the quantity and quality of those growth opportunities,” he says. “My goal is to remain prepared for when the right deals come our way.” He was just an infant when the family business got its start in 1981 with a small independent property near the University of Florida in Gainesville. His entire family of nine lived in a small apartment behind the front desk of the mom-andpop motel. That, says Kanji, “was all we had and we were determined to make the most of it.” And they have: Over the past 35 years, his father, along with his younger brothers Kish and Nash (both still actively involved), built the business to where it is today: a multi-unit, multi-brand operation with more than $60 million in annual revenue. In high school, Kanji spent his summers working at a Tampa hotel, one of his father’s first major acquisitions during the Resolution Trust Corporation’s days following the savings and loan crisis. Later, he headed north to attend NYU, where he earned a bachelor’s degree in finance and political science and a master’s degree in real estate finance and development. Following graduation, he joined KTR Capital Partners, a private equity firm focused on investing, developing, and operating institutional quality industrial BOTTOM LINE Annual revenue: $60 million-plus. at attractive terms. 2016 goals: Grow total revenue by 25 percent-plus. Experience with private equity, local banks, national banks, other institutions? Why/why not? We have worked with each and have found all of them to be valuable sources depending on the business needs. They each have an important role to play. Growth meter: How do you measure your growth? Total sales, EBITDA, and net profit. Vision meter: Where do you want to be in 5 years? 10 years? Total revenue over $100 million. How is the economy in your region affecting you, your employees, your customers? The Southeast, where our businesses are located, has been experiencing steady growth across the board. We have units located in eight states and see consistent improvement across all metrics year over year. Are you experiencing economic growth in your markets? Yes. How do changes in the economy affect the way you do business? Economic changes affect how and when we need to implement new strategy or operating protocols to meet the demands of the changing environment. 30 What are you doing to take care of your employees? Offering the best compensation, benefits, and training we can. How are you handling rising employee costs (payroll, minimum wage, healthcare, etc.)? As the cost of doing business goes up, we have to keep tasking ourselves with new ways to grow revenue, improve product margins, and retain and train talent better. I have not experienced a period when the key operating expenses in our businesses were not increasing each year. It’s one of the key challenges of staying competitive and ultimately profitable at the unit level every year. How do you forecast for your business? Staying in tune with the local economies where our units are located. How do you reward/recognize top-performing employees? Offer improved compensation, benefits, and opportunities for advancement within our company. What are the best sources for capital expansion? The capital markets are quite robust right now, with all forms of capital available from multiple sources What kind of exit strategy do you have in place? I am fortunate to be part of a family business. We are here for the long term! MULTI-UNIT FRANCHISEE IS S UE I, 2016 MUF16-1_kanji.indd 30 1/11/16 11:12 AM