The Ideal Franchisee Profile
The ideal franchisee is and individual with an entrepreneurial, outgoing nature and a burning desire to own and grow his own successful company. They should take pride in their establishment, as well as the brand, and do everything in their power to further the success of the brand and image of the brand.
They should have an eye for detail and always have a proactive and hand’s-on approach to business. They should have the ability to manage others and hold strong communication skills. They should have a pleasant appearance, motivational skills for their staff and hard-working nature at all times, always stick to core hours so as to prove responsible to staff and landlords. For a MI-VAMI FAST FOOD outlet, the individual should have a minimum of R600 000 available for set up costs. For a MI-VAMI GRILL outlet, the individual should look at a minimum of R800 000 available for set up costs.
The applicant should have R300 000 in unencumbered cash funds and the ability to borrow another R300 000. R50 000 is required to be paid on signing the Franchise Agreement. The ideal Mi-Vami franchisee is between 25 and 65 years of age. This person should also be able to work within the systems and processes imposed by the franchisor. The franchisee should ideally run the business personally for at least the first year. Manager-run franchisees generally turnover less than owner-run outlets.