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.
Franchise Agreement Summary
- The agreement lasts for the duration of the lease, including all renewals.
- The agreement does not provide you with an exclusive trading area but does provide you with the right of first refusal of another Mi-Vami outlet within a three-kilometer radius of your business.
- The franchisor earns a total of 5.0% of your gross turnover on a monthly basis in the form of a Management Service Fee (“royalty”).
- You are responsible for providing monthly financial reports to the franchisor.
- The Franchisor collects 2.0% of your gross turnover on a monthly basis for an advertising/marketing fund.
- The use of the monies in the advertising/marketing fund is at the discretion of the franchisor, and the % can be varied at the franchisor’s sole discretion.
- The franchised business must preferably be operated under the direct supervision of the franchisee.
- The franchised outlet will be upgraded at regular intervals when the need therefore is determined by the franchisor, (typically, a three year face-lift and a five-year revamp), at the cost of the franchisee.
- The Operations Manual details the specifications, standards and operations procedure that the franchisee must follow.
- The franchisee must comply with Mi-Vami standards and menu.
- The Operations Manual may be amended at the discretion of the Franchisor.
- Trade secrets provided by Mi-Vami may not be used in other businesses and absolute confidentiality should be utilised in this regard.
- The Franchisor provides initial training and ongoing support to the franchisee.
- The use of Mi-Vami’s trademarks, logos, promotions and slogans are limited.
How To Apply
Please download & print the file below, fill in all the required information, and e-mail it to nico@mivami.co.za. Mi-Vami head office will then contact you regarding Franchise Availability.