Franchising is increasingly becoming a trusted business model for growth, expansion and improved service delivery across the world. This business model has been embraced both in developed and many fast developing countries including Nigeria. In the last four years, Nigeria has witnessed growth of the industry with the penetration of several franchising brands. Despite this growth, the potentials in the industry are still enormous and remain largely untapped, and so are the challenges that limit the expansion of the industry.
Following this consideration and the need to build on the successes of the first and second forums, PDF II, in partnership with FBDS organized a one-day forum in Lagos themed: Franchise Conference and Round Table. The forum brought together different actors in the Franchise Industry and deliberated on leveraging the potentials of the industry in Nigeria. The forum began with a welcome address and the introduction of the Nigerian Association of Franchise Business Members (NAFBM). It proceeded with presentations on Tapping into Global Franchise Opportunities and Retail Franchising Development. This was followed by the introduction of the Franchise Institute and a presentation on Food, Hospitality and Services Franchise Development. Following this was the brief remark by the Honourable Minister of State, Federal Ministry of Industry, Trade and Investment (who was represented) and a question and comments session. At different intervals during the forum, franchise CEOs were invited to pitch their businesses to the audience.
The forum presented the immense opportunities that are present in the Franchise industry. From a global standpoint, evolving global demand patterns and the rise of the millennial were key factors that will create opportunities for businesses, particularly those in the food and beverage industry. The full event report is available here: https://www.pdfnigeria.org/wp-content/uploads/2019/01/181202-Franchise-Conference-Report-vs-0.1.pdf