Forays into healthy fast food have led to some of the restaurant industry’s most embarrassing failures (see McDonald’s McLean Deluxe, Burger King’s Satisfries and Pizza Hut’s The Natural). The common wisdom is that when consumers want something quick, they want it salty, fatty, cheesy, sugary or any combination thereof.
Accordingly, when Matthew Corrin began searching for healthful, convenient food while working long hours for Oscar de la Renta back in 2004, he had low expectations. But he was pleasantly surprised.
“I kind of became obsessed with these mom-and-pop delis,” he says. “They had these really good fresh-food bars. They had no focus on branding or advertising themselves as having fresh, healthy food, but they were great.”
The notion that people in other cities might be searching for similar healthy options led Corrin to launch Freshii in 2005. With zero food-service experience, he opened his first unit in Toronto. Within two years, he had nine stores and began franchising. Now the concept is growing at breakneck speed, with more than 160 units in 12 countries and 120 more in the pipeline for 2015.
The secret, Corrin says, is that Freshii isn’t tinkering with burgers or subs to make them more healthful. Instead, the company offers salads, wraps, rice bowls and soups that can be customised using sauces, spices, proteins and healthy fats like avocados and walnuts to add flavour.
Not that too many menu items need modifying – options like the Buffalo Salad, Teriyaki Twist Bowl and Thai Lemongrass Burrito are already pretty well-designed.
Corrin believes Freshii succeeds because it hits a sweet spot with younger consumers. “Increasingly, our customers and franchisees are Millennials, which are a great target demographic,” he says.
“They really care about the triple bottom line – people, planet and profits. We feed half a million people per year in Kenya through the sale of our reusable green bowls. Giving back really resonates with our customers and franchise partners.”
That Millennial appeal has enabled Freshii to become a global brand. “The conversation about how to live healthy is happening among young people in Colombia, in Sweden and across the world. And that’s really cool,” Corrin says.
“The Millennial generation everywhere has similar views, and they’re constantly communicating those views in real time.”
Their tastes are changing in real time, too. That’s why Freshii constantly evolves its menu. “Today, we serve kale and quinoa,” Corrin says. “Ten years ago it was all brown rice and spinach. And 10 years from now it will be different.”
But Corrin’s mission is to expand beyond a niche healthful-food market. He points out that Freshii has grown faster than Starbucks, McDonald’s and Subway did in their first years, and he doesn’t see why his concept can’t be as ubiquitous as those brands.
“There’s no reason we can’t be global leaders as long as the trend for healthy eating stays on pace and as long as we can execute,” he says. “We have a business model that’s as attractive as brands with thousands of locations.”
This article was originally posted here on Entrepreneur.com.
Be Your Neighbourhood’s Best Buddy
Ubuntu is a treasured part of South Africa’s heritage – but it could be better applied in parts of the country’s business sector, believes Richard Mukheibir, CEO of Cash Converters.
“Businesses operate most sustainably when they are entrenched in and care about the community that surrounds them,” he says.
“Ubuntu means we are people through our interactions with each other and I firmly believe that a people-centred approach like that should be a strong thread in sound business development.”
Embedding yourself in the community is also good for business – as long as you authentically and truly work at being your neighbourhood’s best buddy, he says.
“Be about helping people get on with life, about making their lives easier,” he advises. “We always encourage new franchisees to take a fresh look at the neighbourhood where they are setting up so that they can be active participants and not just providers or suppliers.”
Corporate social responsibility applies some of this thinking but, says Mukheibir, if it is a “parachute drop”, one-off activation in a community, this is far less convincing than sustained communication and cooperation.
Cash Converters places such emphasis on this that it is a major focus of the strategies implemented by the company’s Local Area Marketing Manager Juan Botha. This approach enables each franchise in the group to be in touch with its neighbourhood through social and other local media challenges, giving them added strengths locally while being supported by the advantages and professionalism of national and international 21st-century business systems.
“All franchises and chains are aware that branches represent the company on the ground,” says Mukheibir. “But Juan opened our eyes to the importance of being good neighbours and not just another store along the street.”
If you are a neighbour buddy by acting as a central, participating and unifying figure in the community, your neighbourhood will in turn work for you. You can build awareness by sponsoring local events such as food festivals, cycling races or trail runs, especially if you can offer part of your own site as a venue, for example.
Related: Cash Converters Franchise Listing
You will establish real, long-term partnerships, though, by working consistently with community gatekeepers, from schools and welfare groups to gyms and conservancies. Adopt a community project and encourage staff to give their time and effort and this will generate goodwill that will be reflected back at you.
Such activities are about a lot more than column inches in community media, says Mukheibir. Building good relationships with communities can enhance your brand’s reputation, he believes. But being your neighbourhood’s best buddy can also make an important contribution to social cohesion.
“Plenty of people hark back to the good old days of mom-and-pop stores when everybody in the neighbourhood looked out for each other,” he says. “It’s not just nostalgia to want to rebuild that in our society – it makes sense.
“We all need to contribute to the safety and stability of our neighbourhoods, whether we are individuals or businesses. The season of goodwill is fast approaching – why not see what difference your business can make in your neighbourhood by then?”
Clean Out, Clean Up – And Win Big With Cash Converters!
Spring is on the way and Cash Converters is celebrating the season of renewal with a bigger than ever Spring Clean Sale – and this year it gives you two very different opportunities to cash in.
From 24 August to 2 September, you can help Cash Converters spring clean all its stores nationally by snapping up discounted items across all their different product categories. Then in the second phase starting on 3 September, Cash Converters returns the favour by giving away R200 000 over 20 days! A total of 100 customers will win cash prizes in this Spring Clean Special Draw of R10 000 per day from 6 to 25 September. To enter, all you need to do is sell Cash Converters an unwanted item that you have decided to spring clean.
Sorting through your cupboards for items that are in good condition but rarely used and that you are ready to sell could put you in line to be one of the lucky winners of a fistful of cash that will make your budget stretch further or give you a head start for early Christmas gift buys. If you have not yet managed to act on this year’s resolution to declutter your space, here is an excellent incentive to make good on that goal.
Many of us have items crowding our homes that turned out to be bad buys, were unwanted presents or are outdated for our needs. Trading in these items can help you trade up to something that suits you better – as well as giving you the chance to be one of the lucky cash winners!
Get ready to cash in on:
- Spare phones, computers or cameras
- Unused power tools or exercise equipment
- Unwanted jewellery and watches
- Unnecessary kitchen appliances and electronic goods
- Surplus gifts or inherited items
“Essentially, we are paying you to spring clean!” says Richard Mukheibir, CEO of Cash Converters. “Even if you are not fortunate enough to be one of our daily cash-prize winners, you will be cashing in on items you do not need. That is a welcome boost to anybody’s wallet with petrol prices and the VAT increase still eating away at our income.”
Apart from all the excitement around the opportunity to win big, the outcome is win-win for everybody, says Mukheibir. Whatever you choose to trade in for cash in hand could well become the treasure that somebody else has been looking for. He believes the Spring Clean process also has an important message for South Africans.
“We are specifically running this promotion during Heritage Month because it helps enable a key change in mind-set that we need to entrench if we are to live sustainably on our beautiful planet,” he says.
“It has been estimated that the City of Johannesburg’s landfills will be full in just six years’ time, for instance. But enabling items you do not need to have a second, useful life, or astutely buying quality second-hand items you do need, is taking action on the reuse, recycle, repurpose message of our times. That makes you one of the savvy consumers who are doing what they can to save our planet for future generations.”
Related: Cash Converters Franchise Listing
5 Ways To Teach An Old Business New Tricks
Cash Converters took a hard look at their product offering and realised that dealing in second-hand jewellery should become a major part of their product offering given the fact that the vintage trend really took root in the SA market.
Do you have hidden gems concealed in your longstanding product offerings? Taking a new perspective on buying and selling patterns established over nearly quarter of a century at Cash Converters Southern Africa made CEO Richard Mukheibir realise a business lesson he needed to put into practice – and one he felt worth sharing with any other SA businesses looking for a wakeup call that can help them grow in today’s slow economy.
Reinventing your brand to keep it fresh and successful means everything from refreshing your logo to sharpening your strategic vision, he believes. That led him to relook the company’s product offerings and spot the gap where they could supply better.
“Dealing in second-hand jewellery has always been a side-line for us, another minor part of the product mix we offer,” he says. “But as the vintage trend took root in South Africa, we realised that instead of just ticking over and maybe not even earning its floor space, this could potentially be a good earner for us.”
In just six months, the 13 pilot stores have already significantly outstripped their annual target and other franchisees in the group are clamouring to join the initiative.
Mukheibir has broken the experience down into five key learnings:
1. Extend the brand
The typical Cash Converters customer tends to be about 40 years old and male. But improving the jewellery offering, the company realised, could attract more female customers. It chose to start by focusing the extended product range on fashionable silver items to cater for women in their 20s.
Related: Cash Converters Franchise Listing
2. Establish a support team
Mukheibir did not hesitate to bring in expertise in this area, recruiting Scott Townsley to project manage the initiative. This enabled the company to leverage Townsley’s 21 years of experience in the jewellery industry with the likes of American Swiss and Arthur Kaplan. One of Townsley’s first moves was to establish alliances with jewellery workshops to machine polish second-hand jewellery and give the customer the reassurance of a third-party valuation certificate that can also be used for insurance purposes.
3. Price smart
Pricing reselling of second-hand jewellery at about half of retail prices for new products created bargains at the company’s jewellery counters. This made them all the more tempting to customers already attracted by their sparkling, nearly-new state and vastly improved display.
4. Display, display, display
Jewellery was previously mixed into the company’s display of other small, high-value items. Townsley pulled it out of there into a standalone display and devised a common merchandising formula, including layout and props such as charcoal-coloured display fabric to show off the jewellery to its best.
5. Success breeds success
“Jewellery is a luxury item, part of a consumer’s discretionary spend after the basics of food and clothing,” Townsley says. This means that sales staff need some creative flair as well as understanding the advantages of merchandising together a chain and bracelet that are part of a set. Staff also need to have the personality to interact positively with customers, as well as having confidence instilled in them thanks to being well briefed and trained to deal with questions during the selling process. Product-knowledge training introduced includes understanding hallmarks, basic familiarity with semi-precious stones and understanding the most popular types of purchases, from trending silver pieces to solitaire engagement rings.
The outcome of this initiative has been a win-win, says Mukheibir – enthusiastic and knowledgeable staff and a jump in the company’s jewellery business, with the new-look displays being rolled out as quickly as possible across the group.
“The initiative only needs minor realignments on the shop floor and implementation can be slotted into the company’s workflow without major disruption,” he says. “This brand extension required minimal investment for useful rewards. It shows how it pays businesses to re-examine opportunities that could be sitting under their noses.”
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