The franchise business deals with distributing products or even services for a franchisor. The franchisor usually has a brand that is registered and known to operate.
One must learn how to start a franchise business in Zimbabwe in order to be successful. There are different types of franchise arrangements which include;
Different types of franchise arrangements
There are different types of franchise arrangements that one can begin. This includes;
- Single unit-In this type of franchise, one is allowed to open one franchise unit.
- Multi-unit-As the name suggests, you are allowed to open more than one franchise unit and operate.
- Area developer-One has a period in which they are allowed to open more than one franchise.
- Master franchise-The final arrangement involves one having a right to sell franchises to other people within that territory.
With this, one has an idea of what type of business they want to dwell in. Also, depending on the capital one has, one can decide which of the four arrangements suits them best.
Steps to start a franchise business in Zimbabwe
- The first thing to do when you are starting any business is to draft a business plan. A business plan is very essential as it will help you manage the business and know how to go about the expenses.
- The next step is to look for a unique company name or brand name. One that is easily recognizable and has never been used before.
- Once you have decided what the company or organization’s name will be, the next step is to register the company as either a private Limited Company or a Private Business Corporation.
- Study and find out more about the business you won’t dwell in. Perform a SWOT analysis to identify the strengths and weaknesses of the business.
- Set up a business bank account with the preferred banker.
- Ensure the business for safety purposes.
- Choose a suitable location from where you will be offering your services or goods.
- Identify your target market to know what you are going to stock or what services you will be offering.
- If possible, build a website that you will be using to advertise your business and get clients.
- Buy all the necessary equipment for your business and set up the office or area of work. One can also register with ZIMRA and NSSA to get the PAYE number and SSR number where applicable.
Franchise opportunities in Zimbabwe
The franchise business is booming well, especially in the food sector in Zimbabwe. Some of the best growing franchise businesses in Zimbabwe include;
- Pizza Inn
- Chicken Inn
- Bakers Inn
- Creamy Inn