Franchising in Latin America

Franchising in Latin America

With a larger combined population, Latin America continues to be the wise choice for expansion for many international franchise concepts. European have recently discovered the benefits of doing business here and have experienced rapid growth within their respective systems.

The franchise model has been well copied and adapted to local flavor making for successful launch of very interesting concepts within the region. Some of these brands have now ventured out of their respective regions and into U.S. markets.

For franchise systems entertaining expansion into the region, the recommendation is to focus on growing as an extension of a company’s current borders, either into Mexico or Puerto Rico, creating a foothold and the necessary experience in adapting to the local business climate. Having said this, do not discount a truly qualified candidate no matter where he or she comes from. These are few and far between and if a concept draws the interest of one of these unique individuals, one must take a serious look.

Finally, education is the key. The perfect source for detailed and precise information is the International Franchise Association’s annual convention. This program holds several opportunities for further enrichment from the experience of others.