(qCOSTARICA) Local fast food chain, Snax, is now offering local franchise opportunities for US$10,000.
Oscar Lopez, owner of the chain, said its objective is to reach 18 franchised outlets in the next two years, for a total of 26 local, taking into account the eight own with which it already has.
Lopez added that market research reveals the chain can easily grow to 40 locations in the Gran Área Metropolitana (Greater Metropolitan Area) of San Jose.
The franchise offers investors to buy into a system of “take out” and soda style restaurant, that requires a total of investment of between US$40,000 and US$60,000 dollars.
“I consider it essential that we stop thinking that the franchise is a model for international brands, as that is expensive. Snax innovates to bring a franchise within the reach people who have a small investment and yearn to become entrepreneurs,” said Jorge Oreamuno franchise consultant for the chain.
Snax President Oscar Lopez said, “instead of focusing on managing locations, we want to give people the opportunity of running their own business.”
Lopez added that the company has arranged financing with local banks, to provide investors the ability to purchase the necessary equipment to operate the business.
Based on the experience of the current outlets in operation, the company estimates that the recovery of the investment will be less than three years.
Snax joins a trend of local businesses turning to franchising for their expansion.
From 2010 to 2014, the number of franchises in Costa Rica rose by 166%, according to data from the National Centre for Franchising (Centro Nacional de Franquicias – CENAF).
Currently, two other food companies are in the process of franchising their business model, the Yogurtini ice cream parlour and Fonda Azteca restaurant.