SHONA

⏪ With less than a week to the AWE Alumnae Conference 2024, let’s take a trip down memory lane to the AWE pre-conference mixers we held across the country!    These gatherings allowed our amazing AWE alumnae to connect and reconnect, share experiences, and celebrate each other! 📍𝐅𝐨𝐫𝐭 𝐏𝐨𝐫𝐭𝐚𝐥 We were in the beautiful Fort Portal City, where we wrapped up our pre-conference tour with a grand finale! What a time we had! 🥳😊 Academy For Women Entrepreneurs Uganda SHONA Capital Ltd Kustawi Africa I PROFILE FOUNDATION #AWEConferenceUg2024 #AWEinUganda #AWEnergized #Uganda

𝐈𝐭 𝐢𝐬 𝐚𝐥𝐦𝐨𝐬𝐭 𝐡𝐞𝐫𝐞! 😊 #AWEConferenceUg2024 #AWEinUganda #AWEnergized

5️⃣ Things are getting hot! We are looking forward to the next few days. Academy For Women Entrepreneurs Uganda SHONA Capital Ltd Kustawi Africa I PROFILE FOUNDATION #AWEConferenceUg2024 #AWEinUganda #AWEnergized #Uganda

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The countdown is on! 🥳 #AWEConferenceUg2024 #AWEinUganda #AWEnergized

𝐐𝐮𝐞𝐬𝐭𝐢𝐨𝐧 #𝟒 – 𝐄𝐧𝐭𝐞𝐫𝐩𝐫𝐢𝐬𝐞 𝐅𝐨𝐮𝐧𝐝𝐞𝐫’𝐬 𝐋𝐞𝐯𝐞𝐥 𝐨𝐟 𝐌𝐨𝐭𝐢𝐯𝐚𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐂𝐚𝐩𝐚𝐜𝐢𝐭𝐲 𝐟𝐨𝐫 𝐒𝐜𝐚𝐥𝐢𝐧𝐠 𝐭𝐡𝐞 𝐄𝐧𝐭𝐞𝐫𝐩𝐫𝐢𝐬𝐞: Is the founder of the #business willing and able to devote the time, effort, and resources needed to expand to at least 3 additional markets over a five-year plus time period?    To answer this question with a YES answer, business owners should have direct evidence that: ➡️The business owner is willing and able to accept low levels of financial return from the business for 3 to 5 years while much of the profits are invested into expansion; AND ➡️The business owner can accept the risk of losing this investment in scaling the business; AND ➡️The business owner can invest the time and equity that investors will expect when investing in the growth of the business.   𝐋𝐞𝐬𝐬𝐨𝐧𝐬 𝐟𝐫𝐨𝐦 𝐓𝐰𝐨 𝐄𝐧𝐭𝐫𝐞𝐩𝐫𝐞𝐧𝐞𝐮𝐫𝐬: Max Dental Clinics Uganda has already successfully opened 3 locations and sees franchising as offering a lower level of risk and capital requirements when opening additional locations. The #CEO indicated that he is prepared for the risks and investment required. Duara Education needs more time and experience to answer this question. They anticipate having their answer to this question in 12 months. 𝐇𝐨𝐰 𝐢𝐭 𝐛𝐞𝐧𝐞𝐟𝐢𝐭𝐬 𝐚𝐧 𝐞𝐧𝐭𝐞𝐫𝐩𝐫𝐢𝐬𝐞: ➖The #entrepreneur has the mindset to weather unforeseen challenges with initial #franchise #strategy #development and remain on course. ➖Evidence of this commitment helps to attract external #investment that supports expansion. Stage Six Inc. #ScalingBetter #Franchising #EastAfrica #BusinessExpansion #Kenya #Uganda #Business #Finance

𝐐𝐮𝐞𝐬𝐭𝐢𝐨𝐧 #𝟑 – 𝐏𝐨𝐭𝐞𝐧𝐭𝐢𝐚𝐥 𝐟𝐨𝐫 𝐓𝐫𝐚𝐧𝐬𝐟𝐞𝐫𝐚𝐛𝐢𝐥𝐢𝐭𝐲 𝐭𝐨 𝐎𝐭𝐡𝐞𝐫 𝐄𝐧𝐭𝐫𝐞𝐩𝐫𝐞𝐧𝐞𝐮𝐫𝐬: Can an entrepreneur with basic business skills and experience successfully operate the business in a location with demonstrated demand?    To answer this question with a YES answer, business owners should have direct evidence that: ➡️A person with one to two years of relevant business experience in the market to be served can successfully offer the products/services reliably and with adequate quality using the established business model; AND ➡️The methods for customer acquisition and retention can be successfully implemented by this type of person without uniquely specialized skills and experience.   𝐋𝐞𝐬𝐬𝐨𝐧𝐬 𝐟𝐫𝐨𝐦 𝐓𝐰𝐨 𝐄𝐧𝐭𝐫𝐞𝐩𝐫𝐞𝐧𝐞𝐮𝐫𝐬: Max Dental Clinics Uganda has successfully opened 3 locations in Uganda, including one office demonstrating his low-cost concept for a clinic. The successful performance of these clinics shows that Max Dental is viable in multiple locations when the requirements for opening a clinic are followed. The benefits for an experienced #dentist of partnering with Max Dental and the performance of these initial clinics led the #CEO to conclude that the enterprise is transferable to a capable #franchisee. Duara Education is still in the process of evaluating the transferability of its concept as the team continues to refine their model for a Duara #school. It is still too early to tell at this stage of her business, but they see promising evidence of its #transferability (e.g., schools in different locations are meeting their #performance targets, strong interest from #teachers when they open a new school, and parent satisfaction is high). The team requires more time to test and confirm that the Duara model can achieve its goals for break-even financial performance and further reduce the cost of opening a new location. 𝐇𝐨𝐰 𝐢𝐭 𝐛𝐞𝐧𝐞𝐟𝐢𝐭𝐬 𝐚𝐧 𝐞𝐧𝐭𝐞𝐫𝐩𝐫𝐢𝐬𝐞: ➖The easier it is to operate your enterprise, the easier it is to open a new franchise location successfully. ➖It also reduces ongoing training costs required to support expansion partners. ➖It provides tangible evidence to interested expansion partners that they can also achieve returns from becoming an expansion partner. Stage Six Inc. #ScalingBetter #Franchising #EastAfrica #BusinessExpansion #Kenya #Uganda #Business #Finance

𝐐𝐮𝐞𝐬𝐭𝐢𝐨𝐧 #𝟐 – 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐜 𝐏𝐨𝐭𝐞𝐧𝐭𝐢𝐚𝐥 𝐨𝐟 𝐭𝐡𝐞 𝐄𝐧𝐭𝐞𝐫𝐩𝐫𝐢𝐬𝐞: Does the enterprise offer a sufficient financial return potential that would make the business attractive to experienced entrepreneurs and investors? To answer YES to this question, business owners should have direct evidence that: ➡The business can reach break-even financial performance in terms of operations within 12 to 18 months; AND ➡Individual locations (or a small network of locations) provide a sufficient financial return on the investment required to establish and operate those locations compared to other options available to them.   𝐋𝐞𝐬𝐬𝐨𝐧𝐬 𝐟𝐫𝐨𝐦 𝐓𝐰𝐨 𝐄𝐧𝐭𝐫𝐞𝐩𝐫𝐞𝐧𝐞𝐮𝐫𝐬: Max Dental Clinics Uganda is able to reach a break-even performance in new #locations within 6 to 8 months via its start-up plan for new offices. This offers an attractive opportunity for dentists looking to start or expand their practices because it is much faster and lower risk than opening a clinic on your own.  Duara Education offers an attractive #economic #opportunity for teachers because it enables them to open a school faster and at a lower cost than starting one on their own. Although Duara is still in its early stages, the #schools are designed to operate at a #financial #surplus with an enrollment of 40 students.  Their 3 current locations operate with 20- 25 students as of the #summer of 2024 and are expected to reach 40 #students by the end of 2024, which will confirm and inform their financial model. 𝐇𝐨𝐰 𝐢𝐭 𝐛𝐞𝐧𝐞𝐟𝐢𝐭𝐬 𝐚𝐧 𝐞𝐧𝐭𝐞𝐫𝐩𝐫𝐢𝐬𝐞: ➖The entrepreneur has reached a point where they are operating #efficiently and #effectively, with #products and #services that can realize market demand. ➖The ability to attract experienced #entrepreneurs and investors can add additional long-term value to a business. ➖There is a “crowd-in effect” - as new partners engage with the enterprise other potential expansion partners are also attracted to your #business. Stage Six Inc. #ScalingBetter #Franchising #EastAfrica #BusinessExpansion #Kenya #Uganda #Business #Finance

𝐐𝐮𝐞𝐬𝐭𝐢𝐨𝐧 #𝟏 – 𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐞𝐦𝐚𝐧𝐝: Is there sufficient demand for the business’ products/services to support expansion to additional #markets? To answer - YES to this question, business owners should have direct evidence that: ➡A sufficient number of additional customers in your current markets are willing and able to purchase your products/services to support expansion; AND ➡A sufficient volume of customers who are willing and able to purchase these products/services exist in at least three additional markets to warrant expansion into these markets.   𝐋𝐞𝐬𝐬𝐨𝐧𝐬 𝐟𝐫𝐨𝐦 𝐓𝐰𝐨 𝐄𝐧𝐭𝐫𝐞𝐩𝐫𝐞𝐧𝐞𝐮𝐫𝐬: 🌟Max Dental Clinics Uganda has confirmed a strong level of demand for quality, affordable dental care through the strong demand for services at each of its 3 locations.  #Market #data and #customer #feedback show families want and are willing to pay for quality dental care that is affordable and readily accessible. Other quality options are less #affordable (i.e., more expensive)  or less accessible (e.g., appointments are difficult to schedule). Max Dental established two clinic models; 1) a Basic Clinic with standard services attracting middle-income patients; and 2) a Low-Cost Clinic that offers quality care in a basic setting with streamlined services that help lower their costs while still assuring #quality #care. Max Dental has identified at least four additional markets with demand as strong as its initial markets. 🌟Duara Education found a very strong demand for early learning schools in at least three markets. They used these insights to develop an early learning offering that appealed to parents and could be provided at affordable fees that parents would pay reliably.  𝐇𝐨𝐰 𝐢𝐭 𝐛𝐞𝐧𝐞𝐟𝐢𝐭𝐬 𝐚𝐧 𝐞𝐧𝐭𝐞𝐫𝐩𝐫𝐢𝐬𝐞: ➖Knowing there is clear evidence of demand for your product or service also indicates that there is a clear business case for expansion. ➖Being able to provide compelling evidence to prospective expansion partners that there is a clear opportunity makes it easier to onboard new expansion partners and roll out new franchise locations. ➖It also helps to attract high-quality expansion partners, who are able to get clear answers to important questions. Stage Six Inc. #ScalingBetter #Franchising #EastAfrica #BusinessExpansion #Kenya #Uganda #Business #Finance

In our ongoing 𝐒𝐜𝐚𝐥𝐢𝐧𝐠 𝐁𝐞𝐭𝐭𝐞𝐫 webinar series with Stage Six Inc., we continue to explore strategies that help East African #entrepreneurs expand and amplify their #social #impact. Recently, we tackled a big question for scaling: 𝐈𝐬 𝐟𝐫𝐚𝐧𝐜𝐡𝐢𝐬𝐢𝐧𝐠 𝐚 𝐬𝐮𝐢𝐭𝐚𝐛𝐥𝐞 𝐚𝐩𝐩𝐫𝐨𝐚𝐜𝐡 𝐟𝐨𝐫 𝐲𝐨𝐮𝐫 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬? Franchising can enable small business owners to scale by opening new locations and empowering others to operate established business models while maintaining brand standards. However, before investing in developing a #franchise strategy and system, #business owners should assess whether this scaling method fits with their business model and growth goals. Here are four essential questions we discussed to help assess #franchising suitability: 𝐐𝐮𝐞𝐬𝐭𝐢𝐨𝐧 #𝟏: Is there sufficient demand for the business' products/services to support expansion to additional markets? 𝐐𝐮𝐞𝐬𝐭𝐢𝐨𝐧 #𝟐: Does the enterprise offer a sufficient financial return potential that would make the business attractive to experienced entrepreneurs and investors?  𝐐𝐮𝐞𝐬𝐭𝐢𝐨𝐧 #𝟑: Can an entrepreneur with basic business skills and experience successfully operate the business in a location with demonstrated demand? 𝐐𝐮𝐞𝐬𝐭𝐢𝐨𝐧 #𝟒: Is the founder of the business willing and able to devote the time, effort, and resources needed to expand to at least 3 additional markets over a five-year plus time period? If analyzing these areas indicates that franchising offers strong promise as a business scaling method, then business owners should proceed to a deeper assessment. Two inspiring East African entrepreneurs (Duara Education and Max Dental Clinics Uganda) joined us to share their unique journeys and how they’re applying these insights to assess their scaling paths.  Max Dental was established in 2017 with the goal of increasing access to high-quality dental care in Uganda. Duara Education was founded in 2023 to increase access to quality primary education in Kenya. #ScalingBetter #Franchising #EastAfrica #BusinessExpansion #Kenya #Uganda #Business #Finance