The latest edition of the NextGen in Franchising Global Competition is inviting young people who view franchising as the best way to expand their businesses to apply for support.
Franchising involves giving other parties the right or license to distribute goods or services under your trademark or service mark. It’s basically charging people to replicate your business over and over.
NextGen in Franchising Global Competition wishes to engage young people to advance their businesses through the franchise model. The initiative has awarded entrepreneurs in 2015, 2016, 2017 and 2018.
In 2018, two Kenyans were recognized by NextGen! Stella Sigana was the social franchise winner for availing clean fuel to poor households. Edwin Inganji was recognized for his work overseeing a flagship application that connects users to emergency services.
NextGen in Franchising Global Competition is for people aged between 21 and 35 years old. They must have run their respective businesses for between 1 to 5 years. It’s necessary that it be possible for the business to be scaled by franchising. The winners of the 2019 edition will enjoy a funded trip to the International Franchise Foundation’s (IFA) Annual Convention in Las Vegas, late February 2019. NextGen will cater for Convention Registration and Travel Expenses up to sh.150,000 ($1,500).
Winners will also get to take part in a 2-day educational and networking program. This will be another platform to meet franchisors, franchisees and suppliers and learn everything from them. Selection for NextGen in Franchising Global Competition 2019 also means a chance to participate in the next round of the initiative for a shot at monetary investment.
Are you the next big franchise in these parts of the world? Give this a shot! Deadline for application is 31st August, 2018. Checkout the Official Website to learn more and apply.