Starting a franchise in Africa is on the rise with many big international companies seeking the best entry points into the continent. You’ve been successful in growing your business, corporation or conglomerate in your home country. You have possibly expanded into other developed countries. You are very well convinced that you have a solid market in one or more African countries. You want to expand to Africa. You want to start a franchise in Africa. This can be done in 2 ways: 1. You finance and own your franchise 2. You make franchising opportunities available for African locals to manage one or more branches of your business. Regardless of the particular way you decide to move forward, you will be successful working with an expert who is well-experienced in all things “Doing Business In Africa.” Franchises have been known to succeed significantly in Africa, especially franchises coming in from popular developed nations, such as Wal-mart’s Game Stores from the USA, Mango Clothing Stores from Spain and Domino’s Pizza, KFC and Hardrock Cafe all also from the USA. Intra-Africa franchising is also on the rise with popular supermarket Shoprite from South Africa spreading her wings across the continent and Dressmeoutlet.com spreading her wings to Ghana and other countries. As a starting point, below are 4 big steps to starting a franchise in Africa.
4 Big steps to starting a franchise in Africa:
- Partner with a local company. Africa is increasingly on the rise and few around the world know of the massive opportunities and resources embedded within the continent. Few know of how best to stay secure, enjoy and grow successfully within Africa. It helps to partner with a consultant who has the know-all and has been successful with doing business in Africa.
- Be prepared to finance a significant portion of the franchise. The most intelligent high-potential franchisees in Africa may not have the funds to buy into your franchise but will be willing to dedicated significant time and capabilities to the growth of your franchise. Access to local debt and equity financing is not always readily available in many African countries.
- Factor in Training costs. Don’t expect local hires to be well versed in basics of developed nations. Customer service may be viewed completely differently from where you’ve previously operated. Cost management, business hierarchy, Ethics and Financial Analytics are all samples of topics that may need to be factored into a training plan depending on your business model and industry.
- Launch Solidly. A launch plan is most important in going into the market and capturing it from day 1. Slow to succeed in Africa can mean slow till you go bankrupt. You must make a solid first impression and maintain that impression from the startup stage into the growth stage of your franchise(s).
Want to push your dreams in today’s great-people, good-nations, technology-driven, high-potential world? You must read Olatorera Oniru’s 2018 e-book titled Push Your Dreams available now on Olatorera.com and on Amazon.com.
The Olatorera Consultancy brand has grown from an ambitious solo-preneur to a team of over 50 people highly assertive on providing the seal and stamp of “Africa’s Best” to great businesses in Africa and beyond. Chief Executive Consultant, Olatorera Oniru is very passionate about seeing businesses succeed and operate optimally. She is also notably passionate about witnessing Africa transformed into one of the world’s greatest continents. Olatorera Consultancy has an annual outline of businesses we work with. We currently do not accept unsolicited applications. To network with the team at Olatorera Consultancy Limited, please add your company to the reviews page here. An Olatorera Consultancy company representative may be in touch with you shortly after reviewing your company’s readiness for business consultation services.
Some of the services we provide to our clients:
- Doing Business In Africa: Data Analytics, Market Insights, Launch Plan & Strategy Development
- Service Level Critique and Secret-Customer Detective Services
- Customer Service, Quality & Operational Excellence Assurance
- Seal of Africa’s Best and Nomination for Annual List of “Africa’s Best 100 Companies” and “Africa’s Best 100 Leaders”.
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