After in 2020 most franchises operating in the country reported declines in their operations because of the pandemic, expectations for 2021 is to overcome the losses and in some cases grow.
According to the report "Prospects for 2021 and the situation of franchises in Guatemala and Central America" prepared by the Guatemalan Franchise Association (AGF), in the country in the current context four out of 10 companies have closed between 1% and 10% of their franchise units or establishments.
D-uñas, Despierta by cdr Coaching, VR Airsoft, Levaduramadre, Nails Factory, Geotesr and Capricho Diario, are the franchises of Spanish origin that seek to open operations in the Guatemalan market.
In addition to the 32 Spanish franchises already operating in Guatemala, the Spanish Franchisors Association (AEF) presented seven other brands that are interested in competing in the Guatemalan market.
Evaluating the commercial environment of each sales point of, for example, a bakery chain, is key to sizing the turnover potential of each location, a fundamental input for efficiently designing the expansion plan to compete in other micromarkets.
Using the Geomarketing solutions we have developed for our clients, CentralAmericaData's Trade Intelligence team analyzed the environment of some of the main locations of the bakery and pastry chains operating in Central America. Below is an extract of the study's findings.
Recruiting the best staff to operate the points of sale and reducing the costs of the initial investments to set up a franchise are some of the challenges faced by franchisers, who expect better sales in 2020.
Access to financing, containment of operating costs, and maintaining profitability levels are other issues of concern to franchisors in Guatemala.
In Guatemala, U.S. chain Denny's invested $2 million to open its second restaurant in a shopping mall in the municipality of Mixco.
The restaurant chain, managed by the company of Honduran Origin Specialized Foods, began operations in the country at the end of 2017, with the opening of a store with capacity for 185 people in Zone 9 of Guatemala City.
It is necessary to expand to inland cities such as Xela, Chimaltenango, Cobán, Zacapa and Puerto Barrios in order to allow franchises in Guatemala to grow and take advantage of market niches.
According to specialists in the subject, the franchises in the country should bet on looking for growth opportunities in the medium-sized cities of the province, before internationalizing.
On July 17 and 18 representatives of international franchises from different sectors will be showcasing their business models and meeting with companies interested in acquiring their franchises.
EXPO FRANQUICIA 2018 is being organized by the Chamber of Commerce, Industries and Agriculture of Panama, and will bring together more than 100 companies showcasing 70 exhibition modules from a variety of chains including restaurants , desserts, pastry shops and bakeries, air conditioning technical services, pre-school education, photography and design, manicures and pedicures, business networks, automotive service, and footwear, among others.
Ink and toner refills with latest generation machinery exclusively for the franchisee in Central America, investment opportunity with fast return.
Ink and toner refills with latest generation machinery exclusively for the franchisee in Central America. At the same time, complementary services such as copies, printing are offered. Document lamination, document scanning, Internet Express and other office consumables.
The US company Denny's has announced the opening of its first restaurant in Guatemala City, which will be operated by a company of Honduran origin called Comidas Especializadas.
From a press release by Denny´s:
SPARTANBURG, S.C.--(BUSINESS WIRE)--Denny'sCorporation (NASDAQ:DENN), one of the world's largest full-service family dining chains, today announced the opening of its first restaurant in Guatemala located on Liberacion Blvd. near the airport. The new restaurant is owned and operated by Honduras-based franchisee, Comidas Especializadas S. de R.L., led by experienced franchisee Mr. Roberto Larach, an existing Denny’s franchise partner. This newest location in Guatemala marks the 13thcountry in Denny’s global portfolio.
The chain Payless ShoeSource has filed for bankruptcy and announced a plan to restructure its operations, which will not affect those it has in Central America.
From March 6 to 7 representatives of international franchises from different sectors will be showcasing their business models and meeting with companies interested in acquiring franchises.
The meeting will be held at the Hotel Vista Real in Guatemala City, and will involve franchises for food products, restaurants, cleaning products, and others.At the event, organized by Amcham Guatemala, training and talks will be given on how to franchise a business, the necessary legal framework and other topics of interest.
The regional trade fair for franchises 'Expofranquicias 2016', will be held on 12th and 13th of May in Costa Rica.
From a statement issued by the Chamber of Commerce of Costa Rica:
Costa Rica, March 14, 2016. More than 100 exhibiting companies and 4,000 investors from the Caribbean, North, Central and South America and Europe, will participate in the seventh version of the only regional trade fair for franchises: Expofranquicia, which will be held on 12th and 13th of May in Costa Rica with the aim of promoting the opening of new franchises in the region.
The main business association has announced the trade fairs Expocomer, Expo Franchise, Expo Tourism, Expo Medical, Expo Furniture and Expo Logistics , to be held between March and October 2016.
From 6 to 7 May companies and investors in the sector will be in in San José taking part in business meetings and conferences relevant to franchises in the region.
The second edition of the American Franchise Summit will be held at the Hotel Park Inn, Costa Rica and will involve seven international speakers. The event will last two days and is aimed at 150 franchisees and franchisors investors with the aim of promoting business appointments.
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