Microfranchise programs improve outcomes with business education

Hapinoy-business-management-training

[image credit: hapinoy.com]

The repayment of a microfranchise loan relies on the business acumen of the borrower

As microfinance continues to grow, lenders screen potential borrowers to attempt to find the best credit risks, but this is a reactive process. Many lenders are looking for ways to actually improve a borrower's ability to do business (and repay the loan).

Solution: Put all borrowers through a business management course

Hapinoy franchise store owners learn best practices on key retail essentials such as inventory management, store efficiency and branding. They achieve better negotiating power for merchandise, financing and even technology. Some stores are already planning to install internet kiosks to provide their communities with much-needed online access. The social community factor has been retained as well: stores allocate space on the walls for posters promoting local events and seminars.

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Category: Employment

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Article by: Dave

Dave Cannon is a Seattle-based entrepreneur and consultant to nonprofits and small businesses. He loves Thai food and takes terrible photographs. You can follow him on Linkedin.
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