Frequently Asked Questions
A Franchise is any business licensed by a contractual agreement to distribute a replica of a product or service, maintaining the same name, brand, logo, product and service standards of the original.
In a Franchise arrangement, there are at least two levels of persons involved, namely:
- The Franchisor: the original owner of the brand name and product/service (The Promise)
- The Franchisee: the investor (who is empowered by the contractual agreement) to reproduce the original
In a Franchise, the Franchisor lends his trademark, trade name and business system to the Franchisee, who in turn pays a royalty and an initial fee for the right to do business under the Franchisor’s name and using the Franchisor’s system.
The Promise Franchise is a carefully thought out entrepreneurial and investment plan to provide high returns on investment for discerning investors. Retirees who still want to enjoy the excitement of working, and for active working class individuals seeking additional streams of income.
The Promise Franchise is truly Nigerian only brand with a seal of international endorsement by International Franchising Association, with a focused, high level disciplined management system that has witnessed consistent growth in turnover and assets since inception in the year 2000.
The Promise Franchise has four (4) investment options to give prospective investors choices based on financial resources and land space available to them:
- The Classic;
- The Premium;
- The Icon; and
- The Galleria.
A prospective Franchisee must be a fit and proper person, God-fearing, with an impeccable character and integrity. He must possess a quintessential entrepreneurial spirit with a demonstrated commitment to always succeed.
Negotiations for purchase of a unit of The Promise Franchise begins after the initial payment of a non-refundable application fee of NGN25,000.00 (Twenty-Five Thousand Naira only). Building, equipment and pre-operating costs are determined by the choice of investment option. Please note that no fee is required at the inquiry and profiling stage.
Yes. Prospective Franchisees can buy more than ONE unit of The Promise franchise in the same city, in the same state, and/or in different cities across the states of the Federation.
The Promise Franchise is a model in both physical and management structure. This means that every unit of The Promise Franchise must look like the others in looks and performance. Nonetheless, the Franchisor has no problems with prospective Franchisees who have personal property in prime and strategic business locations. What we require is that such property will be given up for remodeling to the Franchise standard.
Every unit of The Promise Franchise purchased is paid for upfront and in full, after the Franchise agreement is signed by the Franchisee. However, we shall be willing to recommend to our Bankers for part-financing successfully profiled Franchisees to the tune of 60% of total capital requirements.
Yes there is; Ten (10) years, first call; renewable calls, ten (10) years.
Provision for this situation is clearly and thoroughly addressed and resolved in the Franchise Agreement.
It becomes effective upon the signing of the Franchise Agreement which does not take place until all statutory payments have been made.
The Promise has secured partnership with a Megabank to provide 60% of the payment required of the prospective Franchisee. The other 40% is paid by the Franchisee.
The Franchisor’s obligations to the Franchisee indude the handing over of its trademark, trade name and business system in the interest of the Franchisee. It also includes construction of the outlet to the stipulated standard; supply and installation of equipment; training; advice; and start-off support management strategies.
it is the policy of the Franchisor to enter into agreement with an individual only, strictly on merit.
While The Promise franchising offers numerous and brilliant opportunities, it may not be for everyone. You can scrutinize these criteria to see if The Promise is right for you:
a. Do you have the capital to grow?
- do you have the ability to secure necessary funds?
- can you endorse financial plan for future development?
b. Do you have a passion for catering operations?
- quick service restaurants are a “hands on” business
- we need operators that are customer focused and pay attention to details
c. Are you committed to building people’s capability?
- a commitment to management and team training
- seeing employees as a valuable resource
- involving employees in the business
d. Do you have the proper traits?
- can you work under pressure?
- are you action oriented?
If your answer to these questions is yes, apply now.
If you are confident you’ve got what it takes to own “The Promise” of your own and take on an already successful brand, then fill this application form and submit it with a non-refundable fee of N25,000.00 (Twenty-Five Thousand Naira only). We have also made available an online application form which can be downloaded from our online BROCHURE.
Fill it out and submit online with a non-refundable lee of N25,000.00 (Twenty-Five Thousand Naira only) payable to Integrated Catering Company Limited. Our franchising executives will contact you shortly after the payment of the application form fee has been confirmed.