Thursday, June 18th, 2020
Photo credit: Chilling Show (UBC)
FRANCHISING, BRANDING, DISTRIBUTORSHIP, LICENSING
Building a strong and formidable brand from nothing that will stand the test of time seems like a tall order.
But it is NOT. Today, we look at the amazing story of Brian Yesigye Bravo, a renowned Ugandan businessman who has beaten all the odds and built a brand and a business that Ugandans can be proud of.
In the past, our Continent has been categorized with poor quality products and services for decades. But this is steadily changing and more and more Africans and Ugandans are recognizing the need to offer unique, creative and most importantly quality goods and services.
We first learnt about Bravo shoes when the company made a generous donation to Fresh Kid, a young (minor) Ugandan artist while he returned to school.
As the story unfolded, we came to learn that Mr. Yesigye had started his business with nothing and decided to explore international partnerships to enhance his business.
His dream is to own franchises all over the country in the major towns and cities.
His business model is not new or unique, but his story and the stages of growth that he has adopted to get to where he is today, are one of a kind.
Looking at his business model, it is clear that Mr. Yesigye intends to exploit Intellectual Property Rights to gain a competitive edge.
Franchising is a model of intellectual property business where a business owner grants licenses to other like-minded businesses/business owners to use his/her brand for his/her products or services in order to expand the business.
Take an example of KFC and PIZZA HUT in Uganda. These businesses have taken on this type of model, with the owners having obtained licenses from the original brand owners to sell the products in Uganda. KFC and PIZZA HUT are known worldwide and the brands are valued at over US. $5.5 Billion and U.S $8.5 Billion respectively.
This business model is one of the most profitable models that have been adopted by many consumer brands.
This is a model that can be considered by Ugandans as an alternative mode of building their businesses internationally and at the same time promoting local products, hence enhancing BUBU.
Read Bravo’s story here: https://businessfocus.co.ug/from-street-vendor-to-millionaire-how-yesigye-built-bravo-shoes-brand/
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