{"id":39274,"date":"2018-10-16T17:35:44","date_gmt":"2018-10-16T17:35:44","guid":{"rendered":"http:\/\/localhost:8888\/cregital\/disha\/2018\/10\/16\/is-a-retail-franchise-the-next-goldmine-for-nigerian-investors\/"},"modified":"2018-10-16T17:35:44","modified_gmt":"2018-10-16T17:35:44","slug":"is-a-retail-franchise-the-next-goldmine-for-nigerian-investors","status":"publish","type":"post","link":"https:\/\/msmehub.org\/staging\/6671\/is-a-retail-franchise-the-next-goldmine-for-nigerian-investors\/","title":{"rendered":"Is a Retail Franchise The Next Goldmine For Nigerian Investors?"},"content":{"rendered":"

Nigeria’s retail market is both
\ncapturable and too large to ignore. 
\n<\/span>Buying into the winning retail business model will be taking advantage
\nof one of Africa’s biggest growth opportunities.<\/span><\/p>\n<\/p>\n

Investing in a viable business – opens up
\nthe question of franchises: Are retail franchises good investments? How can a
\nNigerian acquire a retail franchise?  <\/span>And
\nhow does retail franchising work in Nigeria?<\/span><\/p>\n

<\/figure>\n

Just a week ago,  <\/span>a prospective franchise buyer sent a DM to
\nFBDS Nigeria’s Page on Instagram asking – ‘ I like sales, what franchise will
\nbe best for me?’. After asking a few questions about his personality and
\npreferences, we advised him to invest in retail franchise.  <\/span>So, what makes the retail franchising an
\nuntapped goldmine for the Nigerian investor? <\/span><\/p>\n

Let’s take a closer look.<\/span><\/p>\n

<\/span><\/p>\n

For best retail Franchises, the brand’s
\nsuccess is a combination of best performance, best practices and a demonstrated
\nexpertise in operating successfully in different cultures and retail
\nenvironments that have also helped them win recognition.  <\/span>In Nigeria today, consumer-facing industries
\nhave quietly grown into a significant economic force and are poised to continue
\ngrowing. <\/span><\/p>\n<\/p>\n

Brand loyalty is also high among
\nNigerians. 70% say they are brand loyal versus 59% in Africa as a whole. Thus,
\nleveraging an existing retail brand means automatic sales due to the loyal
\nnature of Nigerians.<\/span><\/p>\n

Despite the current slow economic
\nsituation, statistics have projected that 11 to 18 per cent of Nigeria’s urban
\nhouseholds, numbering over 2 million, have purchasing power and annual incomes
\nover $10,000. Much of this income will invariably go into the retail sector.
\nSimilarly, in line with a recent FBDS Study, there are over 450,000 Nigerian career
\nprofessionals with minimum investible funds of one million naira, looking out
\nfor investment opportunities – In the majority, these funds are looking for
\nfranchise type opportunities for ease of venturing and minimal failure risk.<\/p>\n<\/p>\n

 <\/span>Nigeria is a growth market for
\nfranchising and franchise development services. The retail industry comes
\nsecond to the food industry among sectors with best franchising opportunities.<\/span><\/p>\n

\"\"
Image Source: Pixabay<\/figcaption><\/figure>\n

Impediments To Retail Franchising in Nigeria  <\/strong>
<\/span><\/p>\n

As with other emerging markets, one of
\nthe challenges of franchising in Nigeria remains the strengthening of
\nintellectual-property regimes so that franchise companies can transmit
\nknowledge and franchise system concepts with the confidence that such know-how
\nwill be protected. Franchise Business Development Services (FBDS), the
\ncountry’s pioneer franchise development company, has developed effective
\nsupport solutions and has helped brands who are now successfully franchising.
\nOur support in building an enabling environment which has introduced solutions
\nto ease off erstwhile franchising challenges have resulted in an impressive
\nincrease in franchising interest among franchisable businesses in Nigeria. <\/span> <\/span><\/span><\/p>\n<\/p>\n

Are you about starting a business? Are
\nyou interested in the retail sector?  <\/span>Are
\nyou finding it difficult to decide which industry to invest in? Are you in the
\ntrial and error phase of business? Are you looking for a viable business with a
\nguaranteed profit? FBDS Nigeria has the best business opportunities for you at
\nthe 3rd franchise matchmaking forum. Click here to attend.<\/span><\/p>\n<\/p>\n

Have you built a viable business with a
\nproven and profitable model? Have you replicated your business model in two or
\nmore locations? Do you want to expand your brand globally? Register to be one
\nof our 80 exhibitors at the 3rd franchise matchmaking forum. Click here to
\nattend.<\/span><\/p><\/p>\n","protected":false},"excerpt":{"rendered":"

Is a Retail Franchise The Next…<\/p>\n","protected":false},"author":1032,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[383,317,304,319],"tags":[504,696,695,615],"class_list":["post-39274","post","type-post","status-publish","format-standard","hentry","category-business-outlook","category-franchising","category-growth-strategies","category-selling-your-business","tag-access-to-finance","tag-accessing-finance-for-franchise","tag-funding-for-franchise-investment","tag-investment"],"yoast_head":"\nIs a Retail Franchise The Next Goldmine For Nigerian Investors? 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