The model allows you to have your own business with an affordable initial investment, as long as you are willing to manage it. So, as an investor beginner, Lisa Juan José Gutiérrez Mayorga recommends to look after microfranchises. If you are willing to invest for the first time in Guatemala, this is one of your best options.
If you have some savings and are interested in a business, you may want to consider investing in a franchise or microfranchise.
Business expansion models in Guatemala through franchises have had a high growth, although for people of average income the necessary amount of investment is not within their reach.
Some options that are handled now are microfranchises, through a program promoted by the German Agency for International Cooperation and the Ministry of Economy (Mineco).
The model of microfranchise arose from the need of people who want to be entrepreneurs, but do not have large capitals to invest. It is a business model of easy access or moderate investment. Loarca explains that the idea is that it be managed by the investor, and the profitability is adjusted to an equivalent salary for a person who has a formal job. That is, it requires the active participation of the franchisee.
The five brands that are registered in the program, according to the Mineco, are Empanadas Doña Nany, Panadería La Esperanza, Super Pollo Express, Ice Cream Shop EyesPop and Pastelería Milano. The initial fee for this type of store varies from Q10,000, Q17,000 and Q20,000, within the microfranchise program, depending on which one is chosen.
The interested party must take into account that the total initial investment —which includes a license to use the brand, equipment and certain supplies— is higher, explains Loarca. According to the Mineco, it ranges from Q65 thousand to Q98 thousand, depending on which business is chosen.
Requirements for you to invest in a microfranchise
- Adults (between 18 and 65 years old).
- Disciplined and organized.
- People who want to invest, acquire and operate their own business.
- Willing to run the business full time.
- Experience in sales and customer service.
- Have the support of the family unit.
- They may be family nuclei dependent on income from remittances.
- To look for a form of self-employment in the microfranchise.
- Clean credit record.
- Know how to read and write.
- Know the basic mathematical operations (add, subtract, multiply and divide).
- No criminal record (mandatory).