BTC franchises to generate 200 jobs

Wed, Jun 13th 2012, 08:55 AM

The CEO of the Bahamas Telecommunications Company (BTC) says franchise opportunities should create up to 200 jobs once the opportunity is available this summer.
Geoff Houston noted that the telecommunications provider is reluctant to place a firm deadline on when that first franchisee will come to fruition. Developing the model has been more difficult and exacting than expected, he explained.
"This endeavor has tested our ability to handle a much more demanding partner," he told Guardian Business.
"There is no longer the excuse that the phones aren't available on time, or it's not the right price or service they want. There is no waiting until tomorrow. This is now a partner where livelihood is at stake."
The top executive at BTC said efforts are "well advanced" in terms of what the margins are for franchisees. The economics of the partnership are more or less set, he explained, but logistics and support are key areas they want to get right the first time.
BTC executives revealed that business plans with prospective franchisees will be measured on a case-by-case basis. Bahamians may be required to come up with an up-front fee for the franchise, or perhaps specific arrangements can be made concerning commission on sales.
"We are being very flexible at the moment, because we are feeling our way forward. It will depend on the location and what the partner wants to do. If the partner wants to build a 3,000-square-foot store, that's a very different discussion than if he wants a smaller unit," according to Marlon Johnson, vice president of marketing and business development.
In addition to job creation, the open-ended model of BTC franchises should help make the company increasingly Bahamian. At a press
conference this week, Houston revealed that 97 percent of the company is now Bahamian, and approximately 50 locals have been hired in recent weeks to executive-level positions.
The franchise opportunity will not be restricted to high-end-worth individuals, Johnson said. In fact, Bahamians can participate by even setting up a small kiosk, for example.
Houston explained that franchisees will all get paid commission based on sales. There is also the opportunity to add accessories to the mobile phone offerings.
"They should be able to sell broadband as well, not just mobile services. As soon as we work on the technology, they can become bill payment centers, and take a percentage of what they collect," the CEO revealed.
"We want to build more revenue streams for these partners, so it becomes more profitable of them. We don't want to force fit a formula that restricts the opportunity."
BTC is also in the midst of reopening a number of upgraded stores across the country, spending millions in the process. The goal is to have 14 new stores open by October.

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