[Opinion Piece] Why franchising is a viable business opportunity
Being a successful entrepreneur takes drive, determination and passion for what you do. The success of an entrepreneur all boils down to recognising the right opportunities and of course, investing time, money and skills into making a proven business concept a successful reality.
The concept of franchising is not a new one, and many entrepreneurs have been able to achieve great success, as this business model remains one of the safest ways of becoming a business owner due to tried and tested recipes for business success. Owning a franchise can be a viable business investment opportunity, if it is supported by an enthusiastic head office team, a proven franchise dynasty, and a loyal consumers following that will support you along the way.
But what does it take to be a successful franchisee? Bronwyn Oliveira, brand manager of Maxi’s, discusses that makes the franchisor of a nationwide chain of family restaurants so successful.
Founded in 1993, Maxi’s now has 65 restaurants and is one of the premier franchises in the food industry, catering specifically to the breakfast and lunchtime trade with high quality, fresh food.
For Maxi’s, their franchising recipe to success lies in a mutually respectful franchisee/franchisor relationship based on positive relations, open dialogue and cooperation, and the highest quality of training to help entrepreneurs run their restaurants as business entities in their own rights.
“Maxi’s has spent many years building the brand to take it to the top and it would not have been accomplished if it hadn’t been for our devoted franchisees. We are who we are today because of our collective efforts to see the brand succeed, the franchisees’ commitment towards the business, and empowering them to grow their own careers under the Maxi’s brand,” adds Oliveira.
Maxi’s franchisees are assisted throughout the entire franchising relationship and receive training, support and assistance when managing their restaurants. This continued support is implemented to equip franchises with the needed experience to run their businesses on a full time basis, as this is required of them.
Oliveira continues, “It is of great importance that our restaurants be run by a franchisee that is prepared to manage the business on a full time basis. The business requires an extensive support team so we need a franchisee that is organised and great with staff.”
Oliveira believes it is because of the franchisees that the brand continues to excel.
Oliveira offers the following advice to potential franchisees that are considering food franchising:
- The business system that has been set in place has proven itself. You don’t need to reinvent the wheel if the brand has been successful. In the same instance, don’t stagnate either. You need to keep up with changes in the industry in order to survive.
- Commit to the business on a full time basis, as history shows that manager run stores are not as successful as owner-managed stores.
- Don’t be too proud to ask for help and attend training courses. When you stop learning you stop growing.