Balanciaga

on franchising:

__”What did he see that I could not see?”

Does anyone on this platform remember the long discussion we had a few years ago about the concept of franchising? Earlier this week (whilst in New York), I thought it would be a good idea for some of you to revisit this concept and study it again.

Here's one definition of franchise if you missed that series: A "franchise" is an authorization or license acquired by a company (or individual) "franchisee" that allows it to have access to a business's proprietary information, processes, and/or trademarks, enabling them to carry out certain commercial activities, for example, acting as an agent to sell a product or service under that business's (franchisor's) name.

, please help with more details.

This time I want you to break franchising down in terms of the 3Ps:

We operate only one franchise business, as a #. We run a Coca-Cola franchise in the eastern part of Zimbabwe.

Coca-Cola provides us with and . We provide .

I have also used franchising to grow our business as a #. Some of our shops that sell our services don’t belong to us. We use franchisees to deliver our service, just like Coca-Cola.

As a skilled entrepreneur you need to develop the capacity to spot and even deploy franchise models.

By now (having become an entrepreneur), when you see a business, I want you to be able to explain complex structures that are being used to # that business.

You can go into business as a franchisee, or you can go into business as a franchisor. I have done both in my career.

__I want to know who is operating as a franchisee or franchisor? two paragraphs!

Years ago, I attended a soccer match with a friend who was a coach. As we sat down, I noticed that he had a notebook and began to draw the positions of each player. After a few minutes, he sat back and said “We are going to lose this game”.

And surely we did lose, quite badly!

“What did he see that I could not see?” I wondered later.

In the game of entrepreneurship, each one of us must advance to being able to see the game as coaches would, and not as fans (or consumers).

It’s time to play! Are you keeping your eye on the ball? Is it the right one?

End.