{"id":4687,"date":"2022-08-05T21:45:18","date_gmt":"2022-08-05T19:45:18","guid":{"rendered":"http:\/\/www.thevisitorpanama.info\/eng\/?p=4687"},"modified":"2022-08-05T22:03:03","modified_gmt":"2022-08-05T20:03:03","slug":"front-507-a-company-with-the-mission-to-franchise-panama-in-the-next-five-years","status":"publish","type":"post","link":"https:\/\/www.thevisitorpanama.info\/eng\/2022\/08\/05\/front-507-a-company-with-the-mission-to-franchise-panama-in-the-next-five-years\/","title":{"rendered":"FRONT 507, a Company with the Mission to Franchise Panama in the Next Five Years"},"content":{"rendered":"\n

When people think of a franchise, American fast food companies such as McDonald’s, KFC, Subway, among others, come to mind. A concept that at first glance looks successful, lucrative, global, but distant for our local companies.<\/p>\n\n\n\n

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However, the reality is quite the opposite, this business model is achievable for any company or enterprise that has the will and the focus to achieve it. And the best thing is that in Panama companies can count on the support of experts who will help create a successful business, in a model that can be replicated by more partners locally and internationally.<\/p>\n\n\n\n

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Creating Successful Franchises<\/strong><\/p>\n\n\n\n

FRONT 507 is a consulting company that is part of the\nFront Consulting International \u2013 FCI network with offices in 25 countries in\nAmerica and Europe, and now arriving in Panama to change the misconception that\nfranchising a business is something that only companies from the United States\nor Europe can do, and that it can be expanded internationally.<\/p>\n\n\n\n

Led by Alfonso Riera Seijas and Juan Carlos Fallas,\nthis company has been working for 25 years in Latin America and Spain detecting\nmarket opportunities, and now they want to convert Panamanian businesses into\nlocal and international franchises that will multiply their income.<\/p>\n\n\n\n

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Franchise in Times of Inclusion<\/strong><\/p>\n\n\n\n

Today companies have a fundamental challenge, to\neliminate the stigma that they are guilty of all the ills of humanity and\nsupport the will of the people around the world: to achieve inclusion.<\/p>\n\n\n\n

Alfonso Riera Seijas defines the franchise concept as\nthe scheme where a successful company, instead of keeping the secret, decides\nto teach it to another person so that it can learn the business and\nsuccessfully grow within the system. A model where helping others becomes a\nsuccessful business, combining the elements of a company and entrepreneurship\non a global level.<\/p>\n\n\n\n

90% of New Entrepreneurship Disappears Vs. 80% of\nFranchises Continue<\/strong><\/p>\n\n\n\n

Panama currently has approximately 250 companies\nwithin the franchise model, however the ones owned by Panamanians only reach almost 40, a very\nlow number compared to the rest of the region, especially countries such as the\nDominican Republic, Costa Rica and El Salvador. FRONT 507\u2019s goal is to bring\nthat number up to 100 in the next five to ten years.<\/p>\n\n\n\n

Another important statistic is that less than 10% of new\nentrepreneurship reach the fifth year. This is because both the economic\nstructure and the lack of motivation to develop self-taught thinking from an\nearly age, which limits a sustained growth over time.<\/p>\n\n\n\n

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For Alfonso Riera, this is where franchises come in,\nsince 80% of franchised units exceed the fifth year of life, a positive number\nto take into consideration when seeing the opportunities offered by this model.\nThis consulting company’s mission is to detect that 5% of companies that have\nachieved success in order to turn them into a successful franchise.<\/p>\n\n\n\n

A Shared Responsibility<\/strong><\/p>\n\n\n\n

FRONT 507 knows that the difference with other\nbusiness models is that a franchisor never abandons its franchisees. Facing a\nsituation alone is not the same as working together with other partners that\nare part of the business chain and reaching faster solutions. A great example\nthat Alfonso Riera gives is the case of the most transcendental invention in\nMcDonald’s history\u2026the Happy Meal for children. The expert consultant commented\nthat most would think that it was created by the Headquarters, however it was a\nwoman named Do\u00f1a Yolanda Fernandez Cofi\u00f1o who had a franchise of this company\nin Guatemala.<\/p>\n\n\n\n

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Another great advantage is that the franchise model is\na resilient system, because if a restaurant with a single owner has four places\nand you run out of tomatoes, the problem must be solved by the owner, but if it\nhas three franchisees, the solution to this challenge is split between four. A\nsystem that creates community and expands the number of possible solutions to\nany situation.<\/p>\n\n\n\n

Become a\nFranchise<\/strong><\/p>\n\n\n\n

The most important element for\nFRONT 507 to consider a company ready or in the process of becoming a franchise\nis that it has achieved a successful business management model. According to\nthe prestigious consulting company, the time comes when the business must\ndecide to grow or not. If the decision is affirmative, that is where FRONT 507\ncomes in to guide, teach and train in the process towards expansion.<\/p>\n\n\n\n

Another great example they expose is Subway, which\nreached 40,000 restaurants around the world before its creator passed away.\nThis achievement was possible thanks to the fact that the owner leaned on other\nentrepreneurs to whom he taught his formula, and invested the money of other\npartners to grow quickly.<\/p>\n\n\n\n

The\n“Franchising Panama” Agreement<\/strong><\/p>\n\n\n\n

Within the framework of the\nExpo Franquicia 2022 event, FRONT 507 and the Chamber of Commerce, Industries\nand Agriculture of Panama signed an agreement to start the “Franchising\nPanama” program, with the aim of promoting this model and advising\ncompanies that have a brand and “Know how” of their business to turn\nit into a franchise. <\/p>\n\n\n\n

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Panamanian\nFranchises<\/strong><\/p>\n\n\n\n

Many people still have no idea\nthat a restaurant like Nacion Sushi is a 100% Panamanian franchise with restaurants\nin eight countries in the region. Although they don’t offer food from Panama,\nthis business is an ambassador of the cultural diversity that our country has. Another\npanamenian franchise is Pretelt Gourmet Meat.<\/p>\n\n\n\n

If you have a business that has managed to sustain\nitself in recent years with positive numbers and you want to grow, FRONT 507\nhas the tools and the appropriate guidance to turn it into a successful franchise.<\/p>\n\n\n\n

General\nInformation:<\/strong><\/p>\n\n\n\n

FRONT 507<\/strong><\/p>\n\n\n\n

Director of\nCommercial Relations<\/strong><\/p>\n\n\n\n

Jose Manuel Soto<\/strong><\/p>\n\n\n\n

E-Mail:<\/strong> jmsoto@frontconsulting.com<\/a><\/p>\n\n\n\n

Cell.<\/strong> 507.6971-8892<\/p>\n\n\n\n

E-Mail: <\/strong>jcfallas@franquicia506.com<\/p>\n\n\n\n

WhatsApp: <\/strong>+506\n88240629<\/p>\n\n\n\n

E-Mail:<\/strong>\nariera@frontconsulting.com<\/p>\n\n\n\n

WhatsApp:<\/strong> +58 414-2724129<\/p>\n\n\n\n

E-Mail<\/strong>: acalvo@frontconsulting.com<\/p>\n\n\n\n

WhatsApp <\/strong>+58 416-6055595<\/p>\n\n\n\n

Photos courtesy: Front 507<\/p>\n","protected":false},"excerpt":{"rendered":"

When people think of a franchise, American fast food companies such as McDonald’s, KFC, Subway, among others, come to mind. A concept that at first glance looks successful, lucrative, global, but distant for our local companies. However, the reality is quite the opposite, this business model is achievable for any company or enterprise that has […]<\/p>\n","protected":false},"author":1,"featured_media":4696,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[42],"tags":[],"_links":{"self":[{"href":"https:\/\/www.thevisitorpanama.info\/eng\/wp-json\/wp\/v2\/posts\/4687"}],"collection":[{"href":"https:\/\/www.thevisitorpanama.info\/eng\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thevisitorpanama.info\/eng\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thevisitorpanama.info\/eng\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thevisitorpanama.info\/eng\/wp-json\/wp\/v2\/comments?post=4687"}],"version-history":[{"count":3,"href":"https:\/\/www.thevisitorpanama.info\/eng\/wp-json\/wp\/v2\/posts\/4687\/revisions"}],"predecessor-version":[{"id":4699,"href":"https:\/\/www.thevisitorpanama.info\/eng\/wp-json\/wp\/v2\/posts\/4687\/revisions\/4699"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.thevisitorpanama.info\/eng\/wp-json\/wp\/v2\/media\/4696"}],"wp:attachment":[{"href":"https:\/\/www.thevisitorpanama.info\/eng\/wp-json\/wp\/v2\/media?parent=4687"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thevisitorpanama.info\/eng\/wp-json\/wp\/v2\/categories?post=4687"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thevisitorpanama.info\/eng\/wp-json\/wp\/v2\/tags?post=4687"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}