Apr 06, 2022
In General Discussions
Such entrepreneurs benefit from the already Telephone Number List existing record of accomplishment of the company and not much time is spent on market research since the business already has a dependable customer base. The other alternative to business Telephone Number List ownership can be franchising. Statistics indicate that more than 50% of retail sales in the United States are generated by franchise chains, which in total employ more than. This is seen as an indication of the potential of such Telephone Number List businesses in Nigeria. * Success of Franchises Compared to other business models, a franchise has many benefits besides being cheaper to set up. A franchise has a good Telephone Number List track record and is easier to set up since it has an existing business model, brand name and has established and working guidelines on how to run the business. In addition to all these benefits, the failure Telephone Number List rate of franchises is lower compared to new businesses. For instance, the rate of failure of franchises is less than 5% making them more suitable for emerging entrepreneurs. Over the last Telephone Number List couple of years, Nigeria has seen an increase in the number of franchises being set up mostly by South African investors in retail, food and environment sectors.