From Charity Nwakaudu, Abuja
Dr Obiageli Amadiobi, Director General of the National Office for Technology Acquisition and Promotion (NOTAP), has urged South Eastern entrepreneurs to adopt franchising as a sustainable business model.
She made this call at a one-day sensitisation workshop in Abuja, where NOTAP unveiled its Franchising Guidelines for South Eastern stakeholders.
Represented by Mr Emeka Orji, Head of the Corporate Planning Department, Dr Amadiobi said franchising is a proven global model with low risks. “Franchising is a contractual business relationship between a licensor (the franchisor) and a licensee (the franchisee) that allows the business owner to use the licensor’s brand and methods of doing business,” she explained.
She described the workshop as a platform for South Easterners, known for their entrepreneurial spirit, to turn local ideas into global brands through franchising. “Franchising is not just a business model but pathway to economic empowerment,” she stated, noting that over 800,000 franchise establishments worldwide generate trillions in revenue.
Dr Amadiobi noted that franchising builds strong brands with minimal capital risk. Its uniform processes and scalability reduce business failure. “Franchising democratises entrepreneurship,” she said, enabling those with limited ideas or capital to leverage established brands.
She stressed the need for constant training and monitoring by franchisors to prevent practices that could harm the brand. “Any mistake or business practices that are not in consonance with the franchisor’s original business concept and manual can negatively affect the whole brand,” she warned.
Dr Amadiobi urged participants to study NOTAP’s Franchising Guidelines to understand the model and decide whether to develop their own brands or use established ones to create wealth.