Franchising: A MODEL FOR BUSINESS SUCCESS IN LATIN AMERICA.To succeed in the increasing competitive Latin American business world, a growing number of entrepreneurs are choosing the franchise route. Rather than try to create a new retail store, a restaurant or a service company from scratch, these business owners can take advantage of a pre-existing model developed in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , Europe or elsewhere in the region.
For business owners, franchising usually provides a recognized brand name, training and support, technical assistance and a well-defined marketing and sales program. What the franchise owner brings to the table is the capital needed to launch the business and the desire to achieve a financial goal.
Franchising allows investors and entrepreneurs to improve their odds of success, while minimizing the risks involved in any new venture. And since many major franchise organizations are only now beginning to expand into Latin American markets, the opportunities for long-term rewards are considerable.
Today, many franchise organizations are customizing their models to accommodate Latin America's highly diverse consumer and business markets. This approach enables a Latin franchise owner to draw on an international organization's experience and support, while offering products and services that meet the needs of the local marketplace.
Subway(R) Restaurants: THE MAN BEHIND THE SANDWICH
In 1965, three weeks before beginning his freshman year at the University of Bridgeport University of Bridgeport is a private, non-sectarian university in Bridgeport, Connecticut, USA. Its campus is located in South Bridgeport on Long Island Sound. The University offers undergraduate, graduate, and health sciences programs. in Connecticut, Fred DeLuca opened a sandwich shop called Pete's Super Submarine Sandwiches. DeLuca was 17 when he launched the venture to earn money for his college tuition The examples and perspective in this article may not represent a worldwide view of the subject.
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College tuition .
Today, Pete's Submarines has become Subway(R) Restaurants, the largest submarine sandwich chain and second-largest fast-food chain in the world. With more than 14,000 locations worldwide and current annual sales in excess of $3 billion, the Subway(R) restaurant chain is a leader in the quick service restaurant industry.
DeLuca opened his first sandwich store with a $1,000 loan from a family friend, Dr. Peter Buck For New Zealand Maori leader and academic, see .
Peter Lawrence Buck (born 6 December, 1956 in Berkeley, California) is the guitarist and co-founder, along with Bill Berry, Mike Mills, and Michael Stipe of the alternative rock band R.E.M.. He is the oldest member of the band. . After some time, DeLuca abandoned his original pre-med studies plan and graduated from the University of Bridgeport with a Bachelor of Science Noun 1. Bachelor of Science - a bachelor's degree in science
bachelor's degree, baccalaureate - an academic degree conferred on someone who has successfully completed undergraduate studies degree in psychology.
But with business booming, "I thought a career in sandwiches was more promising," DeLuca says -- proving that he is a master of sandwiches.
DeLuca recently founded a MILE (Micro Investment Lending Enterprise), which offers a small loans to individuals interested in starting their own businesses who do not have the means to go the traditional loan avenue. The members of MILE are given an opportunity to gain businesses support via community mentors. "I wanted to give something back to the community that helped me become a success and after all, I started with only a small loan," says DeLuca.
Sign-A-Rama: FULFILLING A BASIC BUSINESS NEED
In Latin America's competitive economic environment, "a business without a sign is a sign of no business," according to according to
1. As stated or indicated by; on the authority of: according to historians.
2. In keeping with: according to instructions.
3. Ray Titus, president, Sign-A-Rama, a global organization based in West Palm Beach, Florida West Palm Beach, also known as West Palm, is the most populous city in Palm Beach County, Florida, USA. The city is also the oldest incorporated municipality in South Florida. According to the University of Florida's 2006 estimates, the city had a population of 107,617. .
Sign-A-Rama, which has served businesses in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and overseas for 15 years, is now expanding into Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. . "There is a tremendous opportunity for entrepreneurs or current sign companies to grow and service the Latin American market," says Titus. "We are wide open to offering master licenses, area development programs and individual franchises."
Sign-A-Rama offers full-service, one-stop shopping for all types of signs, including electronic scoreboards, neon, engraved en·grave
tr.v. en·graved, en·grav·ing, en·graves
1. To carve, cut, or etch into a material: engraved the champion's name on the trophy.
2. wood, vinyl lettering, painted logos and cloth banners. Using advanced computer technology, virtually any sign request can be fulfilled quickly to a customer's exact specifications. With its convenient South Florida location and bilingual staff, Sign-A-Rama is ready to serve its franchisees throughout the region. Stores are already open in Puerto Rico Puerto Rico (pwār`tō rē`kō), island (2005 est. pop. 3,917,000), 3,508 sq mi (9,086 sq km), West Indies, c.1,000 mi (1,610 km) SE of Miami, Fla. , the Dominican Republic, Venezuela and Panama.