Because Kenyan customers have access to international luxury brands, these firms are requesting partnerships with local companies to capitalize on this ready market.
By aggressively looking for franchising opportunities, they can do this. A franchise is an agreement in which a single company (the franchisor) grants permission to another independent business (the franchisee) to use its systems, business model, name, and logos for operations.
In the service sector, franchises are commonplace. Reputable companies can opt to use the franchise model to join a particular market.
It’s a business model that makes globalization possible. Numerous international brands have penetrated the Kenyan market through franchising.
As a result of the widespread recognition of most companies using the franchise model, franchisees benefit from having an eager market for their products and services.
Businesses that would have otherwise spent money on marketing and advertising can save a lot of money via franchising.
A franchisee might save money on brand reputation building by making use of the franchisor’s widespread reputation.
Franchises adhere to extremely rigid operating procedures and manuals. The franchisor will teach the franchisee’s employees and give the franchisee access to these operating documents.