I am learning a lot about fast food business as I work on a business case for our program. Jevinik, the quasi-fast food, sit-down restaurant chain in Nigeria, is one we have chosen to study. As part of the process, we are learning new things in this global business. Chick-Fil-A, a fast food chain in the US which prepares chicken, is a revelation. It has a cheap fee to open a chain but it has a premium royalty.
The big one: 60,000 people apply for an outlet operating license but only 80 are selected yearly! This company which has the highest customer satisfaction in the fast food business, in the U.S, has built a Perception Demand. How did it do it? Yes, you need small bucks to start and yet you make tons of money from the process
Jevinik does not run a franchise model. Franchising is always challenging in Nigeria. You can remember how they used franchising to destroy Mr. Biggs when lack of standards across the outlets destroyed the brand. Yet, franchising is going to become part of the future and understanding how Chick-Fil-A and others have done this could help unlock value for practitioners in this space in Nigeria.
Our work would advance that perspective in the Institute. It would help our Tekedia Mini-MBA members. If you are in the sector, I invite you to co-learn with us.
Click to join Tekedia Capital and build Next Africa with min of $10,000 co-investment in startups.