Name: Joe Pinheiro
Franchise: Mugg & Bean
Why I chose Franchising I was a client/visitor to the brand and was inspired by the concept as well as Ben Filmalter’s vision. I was drawn to the bustle, excitement, pride and optimism that existed in the stores that I visited seven years ago.
The security of investing in a successful concept (limited risk) and aspiring to be part of a successful brand.
I also wanted to position myself with a franchise due to the future threats challenging the sustainability of the independent retailer, and saw a franchise as a means for growth and opportunity.
What I did before taking up a franchise
Managed a franchised store and saved start up capital of R30 000 which enabled me to open up my first of three retail businesses.
How I raised the finance
Financed set up capital through the convenience store that I owned and operated before opening Mugg & Bean.
The training and support I receive from my franchisor
Trading within a certain business model and being in an environment where you are constantly benefiting from store visits by Franchise Relations Consultants and the head office support team is a beneficial contribution to ones experience, success, business development and morale.
Furthermore one interacts with other franchisees, you attend franchise meetings and conferences so one is not alone in dealing and seeking solutions to your challenge as you are exposed and inspired by other franchisee’s best business practices.
The challenges I have faced
Being self employed is a unique and a rather lonely place, one is continuously surrounded by constant challenged from staff, suppliers, clients, landlords, as well as other legislative, economic and administrative challenges.
My advice to someone thinking of buying their first franchise
You have to be prepared to roll up your sleeves and work hard. You have to be passionate and be in the business you have chosen because that is where you want to be.
My plans for the future
Buy another Mugg & Bean this time in a busy shopping mall.