A very successful learning session on Franchise Fundamentals and Investment. Opening a franchise business is big step for those who choose this venture. Some key take aways:
1. Franchise is a model which allows you to be in business for yourself, not by yourself.
2. Franchise is not a passive investment it requires time, effort, talent ,funds.
3. Business takes 2 -3 years to mature. ROI should be viewed when business is matured.
4. Initial fees range (USD) 5K to 2M+, Royalties average is 6% , marketing 2 -5%
5. Facts about Pizza Hut/KFC franchisee in Tanzania ( Yum! Brands)
*2016 first Pizza Hut opened in Tanzania,
*May 2016, first hot pizza was delivered at top of Mt Kilimanjaro highest peak in Africa setting a new Guinness World Record for the highest altitude pizza delivery on land!!!!!
* To date there are 9 outlets across 2 cities.
*KFC was launched 2013, to date there are 8KFC restaurants in Tanzania.
Many thanks to our speakers for their time and knowledge sharing. Vikram Desai founder of Yum! Brands in Tanzania Wambugu Wa Gichohi a franchise consultant Eric Johnson global team leader franchise programs.
To all members and non members for your time despite the rains, thank you.