Nearly 5,000 Laureate students participate in webcast focused on future trends in business
In March, Universidad del Valle de México’s academic and executive leadership welcomed students and other members of the Laureate community to the first International Forum on Franchising at UVM Campus Zapopan. Ferenz Feher, franchise specialist and director of Feher & Feher, delivered the keynote speech, which was titled "Picking a Franchise (La Elección de la Franquicia)." The forum was shared via webcast with close to 5,000 students throughout UVM’s network of campuses in Mexico as well as partner institutions from the Laureate International Universities network in Chile, Peru and Ecuador.
There are more than 200,000 franchise brands in Mexico, 85.7% of which are national companies, and one of every three dollars of Mexican consumer spending is done at franchises. Feher shared this fact to make sure that participants fully understand the importance of franchises and the difference between what it means to have franchise and an independent business.
Ferenz Feher used the comparison of a road and a toll free to highlight the differences between an independent business and a franchise business. The first, like a freeway, does not require a mandatory payment; however, acquiring the rights of a franchise means a safer path that is backed by experts. Feher went on to express the need to create a culture of franchises, as they employ nearly 800,000 people and because this growing business model requires changes to ensure future brand success and customer satisfaction. In this sense, he said, work should focus on the relationship between franchisor (which markets the brand) and the franchisee (the one who acquires the right to use a mark or trade name).
After highlighting what is a franchise and the benefits of investing in this type of business, the Feher gave tips to students to begin to develop a vision to start their own businesses as a franchisee: focus on the brand, consider the market potential and give proper attention to administrative and operational structure.
In addition to thousands of the students from throughout the network, the forum was attended by Dr. Carlos Enrique Gonzalez Negrete, UVM’s Academic Director; Dr. Carlos Miguel Barber, UVM’s Institutional Director of Business Programs; Silvia Rivera Damian, Rector of UVM’s West Central Region; Héctor López Llerenas, Rector of UVM Campus Zapopan; Alejandro Ortega Ruiz Esparza, Dean of Campus Guadalajara Sur and Dr. Silvia Dorantes, Rector of Campus Guadalajara Norte.