VENTURES AFRICA – Nigerian based firm Eat n Go has disclosed plans to invest $5 million on a franchise agreement to bring in Domino’s Pizza, a popular United States (US) based eatery outfit to the country, a local newspaper has reported.
According to Lagos-based Vanguard newspaper, Senior Partner of Eat n Go Mr Jean Claude Meyer said the amount will be spent on real estate, staff training, provision of electricity and acquisition of the needed equipment, as it plans to establish about 500 stores in the country over the next three years.
Mr Meyer explained that the company is investing about $5 million into the project due to the “very expensive” price for real estate in Nigeria. He said an investor has to pay rent for “several years and that is not the case in other countries.”
“We have to train our staff and of course, electricity is a big factor where we needs a generator and another one as a backup, buy diesel and because we are dealing with food, it is very important for us to ensure that all necessary equipment that would make us have 24 hours electricity for our cold rooms must be put in place so that the food we are going to give to the people of Nigeria is very safe and will not be of any risk to their health”, he added.
Meyer who has been in Nigeria for over 12 years, said that Eat n Go is poised to open about 500 outlets of Domino’s Pizza in the next three years.
“…we are working on the other brands. As a take-off of the brand in the Nigeria market, we are kicking off with one store and by 2015 we are looking up to over 500 stores”, quipped Meyer.
He also hinted that the company is working on bringing in other US brands to Nigeria.