Franchising Opportunities for Nigerian Brands Seeking Global Expansion
Chiagozie is the Founder and Managing Consultant of Franchise Business…
Franchising has been instrumental to optimizing and replicating successful business models into new businesses and providing support systems for them to grow and thrive under large successful brands. Franchise model eases the barriers to market entry because prospective customers extend the parent company’s brand loyalty and consumer service expectations to the franchisee company. Particularly for micro-franchising, it is expected that the franchisor has done the work in building a successful business with a proven model, such that all that is required from the franchisees is to simply follow existing guidelines. The franchisor who is a successful entrepreneur is paired with prospective entrepreneurs who lack the skill and in some cases, sufficient capital to develop and start their own businesses by replicating the already proven successful model, thereby also expanding the customer reach and market share of the franchisor’s business.
Now, do you consider your business successful, scalable and operating with proven systems?
Do you desire to build a business model you can leverage to expand beyond the current few locations and grow rapidly, yet maintaining your business standards?
Franchising offers you the required effective route into building a global network without requiring the management infrastructure, time and capital investment of a solely owned expansion. Inadequate planning and development of a franchise business structure before offering a franchise to prospective buyers is why business expansion through franchising fails.
Here are some of the reasons why you need Business-To-franchise consultation services prior to launching a franchise program;
- Determining a strategic direction by defining the vision, mission, core values, value proposition, systems, a SWOT analysis etc of the business prior to franchise development.
- Identifying a suitable franchise model that works for your brand and the targeted locations.
- Developing a clear franchise offering indicating the strategy, what markets, the growth rate, development costs, etc.
Culled from the FBDS Nigerian Franchise Report. Visit https://fbdsnigeria.com/contact-us to get started with your franchise.