The Mi Chaii franchise is certainly differentiating itself as a very exciting and dynamic new brand, though it is certainly not the first to bring this concept to the UK market.
But, so what?
Facebook wasn’t the first social media platform, and Google wasn’t the first search engine. Starbucks wasn’t the first coffee chain – not even close! Today, they all dominate their markets, but it wasn’t always that way. They all came later to the party, but now all three of those brand names are associated with huge global success.
We often think being first to market gives a business an edge, but that’s not always the case, as the above list shows. Sometimes, moving in after a concept has been proven has huge advantages, such as:
Learning from mistakes. Every new concept faces challenges and pitfalls, and there are always unforeseen obstacles. By allowing another company to test the waters first, you can learn a great deal from their experiences, and mistakes, allowing you to create a potentially superior offering.
Greater understanding of the market. Companies which are first to market face huge risks simply by having no idea how customers will respond to the product they’ve invested so much in. By observing how their product or service performs before making your move, you can perfect the concept and take it to the next level.
Competition is good for business. First movers who occupy a new market alone have less incentive to adapt and grow, and are often less motivated to evolve their offerings to meet changing customer needs and tastes. It is all to easy too become complacent! By entering later, you can potentially very quickly gain a competitive edge.
Greater innovation. Being second to market provides an opportunity to build upon the innovations and ideas introduced by the first-mover. You can identify areas of improvement or untapped potential and develop a more competitive offering, just like Mi Chaii has done by greatly expanding its menu options.
How Mi Chaii helps you tap into this
I’m not promising the Mi Chaii franchise can make your business into the next Google or Facebook, but who knows? There is certainly an incredible amount of potential for growth and returns in their business model, and they have all the right structure in place to help you fulfil it, including:
- Comprehensive training, including both hands-on experience, and business management coaching. All designed to give you the tools and confidence to make your business a success.
- Support, advice and mentorship from some of the most experienced people in the industry. You’ll have direct access to people who understand exactly how to make this business work for you.
- An exhaustive guide to every aspect of running your restaurants in the form of a comprehensive ops manual. Very much the DNA of a successful Mi Chaii restaurant!
Take the next step
Hopefully, you’ve seen how being a little later into a new market can be a good thing, but I recommend you don’t leave it too late. Right now, the Mi Chaii franchise opportunity is still wide open across most of the UK, with some very lucrative territories up for grabs. However, I don’t expect that to last forever, especially with some existing franchisees already looking at their 2nd, 3rd, and even 4th restaurants.
There’s no need to rush to make a commitment, but there’s certainly nothing to lose by finding out more about this opportunity and starting to think about whether or not it should be on your list of options for the future.
Which is where I come in. You can schedule a call with me anytime to learn more by clicking the button at the bottom of this email.
I look forward to hearing from you.
Kind regards,
Michael Hulmes
Mi Chaii Franchise Consultant