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Development Programs of the

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Start-up cost for local franchises in Nigeria is between $50,000 to $75,000 ... Franchising faces many challenges in Nigeria but has unlimited potential for growth. ... – PowerPoint PPT presentation

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Title: Development Programs of the


1
  • Development Programs of the
  • Nigerian International Franchise Association
  • Dr. Augustine Egbunike
  • Chairman
  • Seminar On How to Support and Conduct
    Franchising for Effective Economic Development
  • Rabat, Morocco
  • November 13 17, 2006
  • Joint Africa Institute

2
Introduction
  • The Nigerian International Franchise Association
    (NIFA) is the lead advocate of franchise
    development in Nigeria.
  • The organization was formed in 2002.
  • NIFA has 52 Corporate, Associate and Subscriber
    members.

3
Introduction
  • NIFAs 10 member Executive Committee is composed
    of representatives from all franchising
    stakeholders in Nigeria franchisors,
    franchisees, financial institutions, legal
    practitioners and the government.

4
Progress made in 2006
  • Public Awareness and Education is key to the
    Development of the Nigerian Franchise Sector.
  • In May 2006, the Nigerian International Franchise
    Association collaborated with the U. S.
    Commercial Service, Lagos to present a
    Franchising Seminar Leveraging Franchising for
    Business Growth and National Development at the
    CTO Exhibition.

5
Progress Made in 2006
  • Franchising was choosing as the theme of the
    Annual Computer Trade and Office Equipment
    Exhibition (CTO 2006) with the goal of helping
    Nigerian technology companies understand the
    benefits of franchising as strategy for business
    growth.

6
Progress Made in 2006
  • Franchising Experts from the USA, South Africa
    and India discussed the impact of franchising on
    American, South African and Indian Economy and
    its potential impact on the Nigerian Economy.

7
Progress Made in 2006
  • The highlights of the Seminar was a presentation
    by Nic Louw, the South African Franchise
    Consultant Franchising A Transformational
    Strategy for Business Growth and National
    Development.

8
Progress Made in 2006
  • Mr. Louws Projection of 69,000 franchise
    businesses for Nigeria became a national debate
    among the news media, Nigerian franchising
    stakeholders and a Talking Point for the
    executive board members of the Nigerian
    International Franchise Association.

9
(No Transcript)
10
Progress Made in 2006
  • The Impact of the 2006 Seminar on Franchising was
    significant
  • Two major Nigerian Banks, Zenith International
    Bank and Fidelity Bank (both co-sponsors of the
    seminar) now work with Nigerian franchisors to
    provide funds for their franchisees.

11
Progress Made in 2006
  • NIFA Secretariat continues to receive enquiries
    from Nigerian companies interested in expanding
    their businesses using the franchising model.
  • More than 500 membership applications have been
    processed at NIFA Secretariat since the 2006
    seminar.

12
Progress Made in 2006
  • NIFA seeks the expertise of Business Development
    Services providers to help Nigerian businesses
    achieve their expansion goal using the
    franchising concept.

13
Progress Made in 2006
  • NIFA continues to identify and develop
    partnerships with relevant government and non
    government agencies that are key to the growth of
    the franchise sector.
  • Our newest partner is The Nigerian Directorate of
    Employment (NDE).

14
Progress Made in 2006
  • The Nigerian Directorate of Employment charged
    with the responsibility of job creation agreed to
    work with NIFA for the common goal of using
    franchising as a tool for employment generation.

15
Progress Made 2006
  • In September 2006, NIFA adopted a constitution
    which lays the fundamental principles for its
    governance.
  • A code of Ethics which will set standard and
    guidelines for NIFA members is in the works.

16
Challenges
  • Protection and Enforcement of intellectual
    property is one major challenge facing
    franchising in Nigeria.
  • Breach of franchise agreements, Trademark
    infringements are increasingly common.

17
Challenges
  • Financing is another challenge.
  • Start-up cost for local franchises in Nigeria is
    between 50,000 to 75,000 (45 million or more
    in local currency). This is a high investment.
  • Franchisors (local or foreign) do not provide
    loan guarantee to prospective franchisees.

18
Future of Franchising in Nigeria
  • Franchising faces many challenges in Nigeria but
    has unlimited potential for growth.
  • The Nigerian SME Sector has begun to understand
    franchising and utilizing the concept for
    business growth

19
Future of Franchising in Nigeria
  • The public-private sector partnership initiative
    of the Nigerian government is helping NIFA to
    work with relevant arms of the government for the
    development of franchising

20
  • www.nigerianfranchise.org
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