The Federal Republic of Nigeria is a West African country that is rich in petroleum, cocoa, and rubber. But even though the economy of the country is poor, the situation has been recently improved due to some useful reforms implemented by the government.
In this country, the most successful franchise businesses are transportation, movie, logistics, coffee, petrol stations, medical health care, educational services, restaurant and beauty. The franchise market in Nigeria brings an annual revenue of one hundred billion dollars. There are many foreign, mostly US, South African and European franchises, though the demand for international brands is still growing.
Meanwhile, to aid the development and promotion of franchise businesses in Nigeria, a special organization called National Office for Technology Acquisition and Promotion was founded with the sole purpose of providing training for franchise stakeholders.
Investing in and owning a franchise is a great way to start your own business in Nigeria. You can tap from the success of successful franchises in the country by buying into their brands. So, if you are afraid of starting a business from scratch because of the heavy competition in the market, then you should consider investing in a franchise that is already experiencing success with their brand.
What is a Franchise?
A franchise is simply an agreement whereby you or any other individual or group pays money to a company to enable them to use the company’s name, brand, and trademark to do business. To be granted this right by the company, the group or individuals are expected to pay a certain amount of money to the company in exchange for this right. The money which this group or individual pays to the company is called a franchise fee.
It’s very important to state that when this business arrangement is consummated, the group or individual becomes known as the franchisee while the company is then known as the franchisor. A good number of companies operate the franchise Business model.
You can make money investing in a franchise in Nigeria especially if you do it right. All over the world, people who have invested in franchises have made money with it, improved their life and have also grown their wealth from their investments. Below are 26 Franchise opportunities to consider when looking to start a business in Nigeria.
26 Best Franchise Opportunities in Nigeria and Their Cost
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Century 21
Century 21 is a Real Estate franchise dedicated to offer buyers and sellers of real estate the highest quality services possible in the most efficient and suitable manner. Century 21 Real Estate LLC is the franchisor of the world’s largest residential real estate sales organization, with more than 6,600 independently owned and operated franchised broker offices in over 30 countries and territories worldwide.
This wide network helps Century 21 agents to understand communities better and offer better options to buyers of real estate while also letting them provide competitive pricing to sellers.
Financial Requirements
- Minimum Cash Required – $25,000
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Taco Bell
It is indeed a huge dream to own a Taco Bell franchise, but that dream does not come cheap. While most items on Taco Bell’s menu are just a few dollars, it takes some serious cash to become a Taco Bell franchisee.
Financial Requirements
- Minimum Cash Required – N20,000,000
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Pixline
This franchise company is a powerful designer specialists’ team, which is engaged in the development of business cards to mobile applications. In this company, a partner becomes an intermediary in order shipment. It simply means that you don’t need designer skills, but you’re simply to be a manager controlling orders.
Moreover, starting work in your own location as a representative, you will have to accept orders from across the country. 100 percent companies order design projects, starting from business cards, leaflets and signboards to interior designs, facility designs and so on. Entrepreneurs are always on the look out for people they can order their business design from.
Financial Requirements
- Minimum Cash Required – N229,500
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Cleanbros
Cleanbros is a leading cleaning company in Moscow that provides clients with a platform to start their own business of cleaning apartments, cottages and offices under a very successful brand name. Cleanbros has already carried out more than 40,000 cleanings across Nigeria, 65 percent of customers became permanent and their number is constantly growing.
This is not just a cleaning company; it is the service which has no analogs. 90 percent of all cleaning processes are automated, which allows franchisees to save time, money and keep the best prices in the market, while feedback is one of their priorities in working with customers. Therefore, the company provides an individual approach to each client, regardless of their number.
Financial Requirements
- Minimum Cash Required – N4,947200
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Domino’s Pizza
Domino’s Pizza is the second biggest pizza chain in the united states with shops in every single state. This franchise has grown and extended into different countries including Nigeria. Customers are able to receive their pizzas via delivery (though quick, the 30 minute “guarantee” is no longer in play) or by picking it up at the nearby store.
Beyond its traditional style of pizza, Domino’s also sells deep dish, thin crust, and “Brooklyn Style” (aka New York style) pizza. Domino’s entices customers with a variety of toppings and coupons so customers can secure a meal at a reasonable price. In recent years, Domino’s has branched out from just selling pizza to bread sticks, buffalo wings, pastas, sandwiches and desserts as well.
Financial Requirements
- Minimum Cash Required – N36,691,236
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Southern Fried Chicken
This company is primarily a uk franchise. The company offers a diverse menu including delicious fried chicken, chicken sandwiches, burgers and fries in a comfortable and inviting environment. Southern Fried Chicken provides potential franchisee the opportunity to join a growing family of restaurants offering increasingly popular chicken dishes.
With an emphasis on fresh food, hearty portions, fast and friendly service and a multi choice menu which combines the most successful quick service restaurant products, adding up to great value for the consumer and an ideal opportunity for the franchisee.
Financial Requirements
- Minimum Cash Required – N19,890,000
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Funtopia®
This is an active entertainment centers that offers a variety of challenges, including climbing walls, gravity roller coasters, giant slides, ropes courses, trampolines, soft play, artificial caves, jumps, obstacles, escape rooms and more. Any Funtopia® is an outstanding venue for celebrating parties, family and group visits, including corporate events and team buildings.
All Funtopia venues are located in shopping and retail centers, family entertainment centers, sports venues and leisure parks with high footfall.
Franchisees are given the opportunity to choose the mix of attractions their Funtopia® will offer based on their strategy, the market specifics, the location, the available space and the experience of our team of experts. There are several stages of design through which the company can achieve maximum precision for the completion of the project and outstanding user experience for it’s end-customers.
Financial Requirements
- Minimum Cash Required – N192,680,244
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Tucano Coffee
Tucano Coffee parades itself as not a simple coffee shop, but a unique place with a mix of the culture of indigenous Latin Americans and California specialty coffee. Tucano Coffee is a rapidly developing international chain of 12 coffee shops in three countries. The key mission of the company is to make life brighter with Love and a unique Atmosphere.
Financial Requirements
- Minimum Cash Required – N25,887,600
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KFC Corporation
KFC Corporation (KFCLLC) whose parent is YUM! Brands, Inc. operate a dine-in and carryout KFC outlet, which prepares and sells chicken and other menu items KFCLLC approves. The Franchise Agreement grants franchisees a license to leverage certain KFC trademarks, trade names, service marks, logos and commercial symbols the franchisor periodically authorizes, including the “KFC” and “Kentucky Fried Chicken” marks.
The agreement also let’s you use the proprietary business formats, methods, procedures, designs, layouts, standards and specifications the franchisor authorizes, solely in connection with the operation of the Outlet.
Financial Requirements
- Minimum Cash Required – N45,000,000
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ActionCOACH
This franchise offers flexible hours, flexible working spaces and professional freedom. This global business offers the training, resources and community required to allow you to fully succeed in your business. As a franchisee, your role within the ActionCOACH franchise is to help business owners with their sales, marketing, management, team building and goal setting.
You will be rewarded with the successful growth of your business as you become a sounding board, trainer, consultant and coach to a broad range of industries.
Financial Requirements
- Minimum cash required – N10,915,020
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Starbucks
Starbucks does not sell Starbucks franchises to individuals, but to qualified businesses already running a retail or food service who want to add a Starbucks Licensed Store within their existing business. Licensed stores are indistinguishable from the Starbucks corporate store and are often kiosks located in supermarkets, schools, airports and many other large public places.
Also note that Starbucks does not publicize its qualifications for opening a Licensed Store. But you can submit an application online at “Apply for a Licensed Store” on the Starbucks website.
Detailed personal and business information is required, including your assets, liabilities, net worth and non – borrowed funds available for investment. Not surprisingly, preference is given to well – established businesses in the retail coffee and food service industry.
Financial Requirements
- Minimum Cash Required – N227,674,710
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Ziebart
Ziebart is entirely committed to providing its franchisees with all the tools required for long-term success. Through partnership with a globally recognized brand that has been in business for 60 years, your business will be trusted by the consumer market.
Ziebart International Corporation is the worldwide leader in vehicle appearance and protection services. Since 1959, this company has served the automotive enthusiast with valuable product and service offerings. The Ziebart franchise has grown to a network of approximately 400 locations in 34 countries.
Financial Requirements
- Minimum Cash Required – N30,600,000
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Algorithmics
More than 40,000 children from five to 14 years old from 14 different countries are learning programming through Algorithmics’ unique educational platform. This company owned unique IT platform contains everything teachers or tutors will need for their classes: from interactive assignments, for the children, to methodological instructions for each lesson, for the teachers.
Indeed, programming is the new English and teaching it needs to begin in childhood. The company’s first goal is to teach important skills to as many kids as possible. The launch of the franchise starts after signing the contract, and the break-even point for a location is generally reached within three-to-four months.
Financial Requirements
- Minimum Cash Required – N6,120,000
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Eazi-sites
You too can gain from 2 days of live training, one-to-one mentoring and access to $12,000 of additional online courses free of charge. Become a website development specialist and build a profitable business. Note that you can start this new business with a promotional website, digital marketing content and video adverts. Leverage the Eazi-Sites brand and replicate their success. Access unlimited support and operate your business from anywhere in the world.
Financial Requirements
- Minimum Cash Required – N3,060,000
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Wendy’s
You will need $2 million in liquid assets with $5 million net worth for new Wendy’s multiunit franchisees or franchise groups. There is also a franchise fee of $40,000 per restaurant, a royalty fee of 4 percent, and an advertising fee of 4 percent, but if you want to buy a franchise you will have to wait. Wendy’s is not currently accepting applications for domestic franchises, although it appears international franchises and Canadian franchises are still available.
Financial Requirements
- Minimum Cash Required – $2,200,000
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Skyhawks
This company remains the nation’s leader in sports programs for children, and a brand with national exposure and appeal that offers you a dependable and rewarding business to own. From 1979, over two million children in 23 states have participated in a Skyhawks program!
Skyhawks is a brand with national exposure and appeal and with the recent purchase of SuperTots. It has multiple ways to offer you a dependable and rewarding business. Skyhawks and SuperTots teaches children and young adults meaningful life lessons through sports.
As a Skyhawks franchisee, you will focus on promoting Skyhawks programs and selling Skyhawks services by using your sales and marketing skills and your enthusiasm for athletics. You will concentrate on selling your services to community-based organizations that serve children.
Financial Requirements
- Minimum Cash Required – N10,710,000
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La Boucherie
Made up of 140 restaurants, 127 of which are in France, La Boucherie has established itself as a major force in the commercial restaurant sector. Have it in mind that this chain has a strong potential for growth. Successful expansion of the group rests upon consummate expertise in provisioning, exploitation, management and development processes and best practices.
The group is working constantly to increase deployment density through management of financial, human and logistical means. Meanwhile, the La Boucherie brand was founded on traditional French bistro-style food, focusing in meat-based cuisine. Easily identifiable, the exemplary French concept appeals to a broad public spectrum. The chain is accessible as a result of its moderate pricing.
Financial Requirements
- Minimum Cash Required – N96,390,000
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Tantalizer
A Tantalizers franchise is unique for anyone keen to run their business, whilst at the same time benefiting from the Tantalizers brand’s finely tuned and developed franchise system. The Tantalizers brand is continuing to expand and is always looking for talented individuals to join the team and become a part of their success story. One of the key strengths behind the success of the Tantalizers brand is the solid support network and robust processes in operation:
Financial Requirements
- Minimum Cash Required – N296,820,000
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Chem-Dry
This company with over 3,000 locations is the world’s largest carpet and upholstery cleaning system. The company offers multi – unit territories worldwide in many countries, so your Chem-Dry empire can be as big or as small as you want it to be.
Carpet cleaning is a massive market. Every year, home and business owners install an estimated 10 billion square feet of new carpet, and all of it has to be cleaned. Chem-Dry has devised a better way to clean it, keep it clean and stay ahead in the industry.
Financial Requirements
- Minimum Cash Required – N9,180,000
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Mail Box Etc.
You can buy the exclusive right to develop MBE in one or more territories. As a Master Licensee, you adapt the MBE business concept to local conditions and support startup and growth of the network in the territory. Mail Boxes Etc. was founded in San Diego, California, in 1980.
Depending solely on franchising power, it has evolved into one of the world’s largest international networks of entrepreneurs operating retail-based logistic, communication and business support service centers.
Operating in the business services industry, MBE provides value by helping people and businesses – more precisely small and medium-sized enterprises – to improve productivity by outsourcing to MBE the business-related requirements and processes which do not correspond to customers’ core business activities.
Financial Requirements
- Minimum Cash Required – N72,216,000
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Vibe Marketing
You can run your own creative digital marketing agency, offering a variety of graphic and marketing solutions to clients, and enjoy extraordinary earning potential. Vibe’s consultative and result driven approach sets the franchise apart in the digital marketplace, as does their extensive portfolio of services.
In fact, the company is so confident in it’s success that they even offer commitments to results for many of their services. Everybody needs an online presence and everybody wants more sales. Vibe is well placed to help businesses achieve their business aspirations.
Financial Requirements
- Minimum Cash Required – N5,814,000
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SmartPA
This company without doubt remains the leading provider of outsourced administrative, secretarial and PA support to businesses around the world. They offers a unique opportunity to become part of a leading global brand. Note that the team of SmartPA Partners are a community who support each other in delivering world-class services to businesses in every sector.
The company’s not-for-profit mind-set at head office, disregards the pyramid structure common in traditional franchise opportunities to allow it’s partners to truly flourish individually and as a team.
Financial Requirements
- Minimum Cash Required – N8,170,200
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Mr Bigg’s
Mr Bigg’s is one of Nigeria’s fast food restaurants. Owned by conglomerate United African Company of Nigeria PLC, there are currently around 170 locations in Nigeria, including the country’s first drive-through restaurant, with another four locations in Ghana.
The restaurant is known for its red and yellow color scheme and meat pies. Mr Bigg’s history started with the coffee shops inside Kingsway Department Stores in the 1960s. In 1973, these shops were rebranded as Kingsway Rendezvous, which became Mr Bigg’s in 1986. The chain saw rapid expansion after becoming one of the first Nigerian companies to sell franchises to investors.
Financial Requirements
- Minimum Cash Required – N 1,460,000
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ReMax
The cost to buy the rights to open a ReMax franchise depends on the location and current demand for franchises. The franchising agreement lasts for five years, with the option to renew the contract if the agent fulfills the terms of his agreement.
Meanwhile, the franchising agreement with ReMax does not include operating costs or expenses to open an office. The actual cost to open a ReMax office can vary greatly, depending on choices such as the price of a building lease and equipment. Also note that some ReMax agents pay an ongoing royalty fee of $100 per month plus 2.5 percent of commissions.
Each agent pay annual dues of $165, and pays $105 per month for advertising. This money goes to building the ReMax brand name and running national and regional media campaigns. Depending on the location of the franchise, a ReMax franchise holder may pay a royalty fee based entirely on sales.
Financial Requirements
- Minimum Cash Required – N120,732,300
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McDonald’s
It’s important to note that most owner/operators enter the franchise system by purchasing an existing restaurant directly from McDonald’s or a McDonald’s owner/operator. A small number of new operators choose to purchase a new facility, but that requires an initial down payment of 40 percent as opposed to 25 percent for an existing restaurant.
Intensive training offered by the corporation addresses all aspects of operating a McDonald’s restaurant. Although McDonald’s does not offer to finance, McDonald’s owner/operators have access to the company’s established lender relationships with some of the lowest lending rates in the industry.
Financial Requirements
- Minimum Cash Required – N306,000,000
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Pizza Hut
A willing entrepreneur with a budget of between $1.3 million to $3 million and a net worth of $1 million with $360,000 in liquid assets, can reliably be in the Pizza Hut business within a year. Note there is a franchise fee of $25,000, a service fee of 6 percent of gross sales, and an advertising fee of 2.5 percent to 3 percent of gross sales. Also note that you must commit to building at least three restaurants over three years.
Financial Requirements
- Minimum Cash Required – $1,300,000