Zack Mukewa: CEO Broadwalk Limited
12th September, 2017
CEO Zack Mukewa of Broadwalk Limited sat down with Harleen Jabbal of the Crossover show to talk about the Seven2Seven Kiosk franchising business.
According to Zack, Broadwalk is a retail franchising business looking to provide convenience to consumers at neighbourhoods and high traffic areas like bus stations. It also provides an opportunity for entrepreneurs to franchise and invest and enable them to generate an income through their partnership with Broadwalk.
Broadwalk and the Seven2Seven Kiosks have partnered with Strathmore University to provide training to those interested in franchising. With an investment of Ksh 100,000 one can take up a store. Broadwalk builds the store, trains the franchisee and provides the opening stock for the store. They also deal with the insurance and marketing. In exchange, the franchisee pays a royalty for the use of the Seven2Seven name.
Usually, to set up such a business, one would require an investment of at least Ksh 1.5 million. Broadwalk has scaled this down to Ksh 100,000 and they also allow the operator to pay back Broadwalk’s initial stock over a period of two years, interest free. Broadwalk simplifies matters by making it a one stop shop. The operator does not need to deal with dozens of distributors for different products. They only need to deal with Broadwalk who gets all the items from the manufacturers and their logistics team delivers the merchandise to all the shops. This cuts the cost of ordering and delivering goods.
Broadwalk with their Seven2Seven Kiosks are not worried about supermarkets. This is because they sell their merchandise at the recommended retail price. They are also well positioned in high traffic areas which is convenient to the consumer. From their position, supermarkets should be worried about them.
Franchising is not a new concept in Kenya. However, the franchising opportunities that have been available thus far have been capital intensive. Broadwalk is scaling this down and making it easier such that anyone can take up a store. You could be a university student, the CEO of a large corporation or even a matatu driver. And with the way the Kiosks are set up, you do not need to be present day to day and can hire someone to take care of the store on your behalf. Therefore, you not only earn an income but are also able to create employment.
Find out more about how to become a franchisee by tuning in to the Crossover Show with Harleen Jabbal.
Watch it here: