The franchise business model is one of the readily available market entry strategies for international brands. The model has significant advantages for the franchiser (international brand) and the franchisee (local player). The model can, however, take its toll on the franchisees owing to the fact that they are expected to provide the franchiser with returns all the while maintaining the same quality. Therefore, running a successful franchise business is something not to be taken for granted. Taking it further and winning the title of the best franchisee in the world is something to be marveled. This feat was recently accomplished by Mexican investor Omar Yunes.
Omar Yunes operates 13 outlets for a Japanese food network brand. The outlets are located in the Mexican cities of Veracruz, Puebla and Mexico City. While he is still young, Yunes has years of experience in the business having first launched his first franchise unit when only 21. Since then, he has grown to become an integral partner to his Japanese partner. His 13 units represent about a tenth of the Japanese brand’s total outlets. In recent years he has also helped the franchiser develop and implement effective control boards.
Omar Yunes has been able to grow his franchise businesses to the enviable level they are at today by using a combination of simple but effective strategies. One such strategy is being appreciative of his staff. In total, Yunes has employed in excess of 400 individuals in the 13 units he operates. Knowing that these employees are the face of the business and thus have a significant say on its success, he keeps them motivated by paying them competitively and being accessible to them. Additionally, Yunes has a highly effective board in place to help with the development of business structures appropriate for various circumstances. This affords his business a greater degree of flexibility than that enjoyed by the competition. Lastly, over the years Yunes has also strong business networks that he can rely on when things get tough.
There is no doubt that if Omar continues with the same zeal and passion, he will continue being the best franchisee in the world for a long time to come.