Manufacturers should build strong product brands if they want to benefit from franchising, a senior local investor has said. Amos Nzeyi, the Crown Beverages chairman, contends that attracting franchises into the local market requires brands that adhere to international quality standards and strategic marketing.
Franchising involves business systems where companies (franchisers) allow other investment establishments (franchisees) to use their brands in marketing and operation strategies.
Franchisees remit a percentage of their periodical profits to the franchiser.
“To develop the franchising industry, we need to market our brands and institute quality controls. This will increase foreign direct investments, skills, innovation and more capital inflows,” he said.