By Babajide Komolafe
Choice International Group has assured investors of 35 percent annual returns on investment (ROI) on its Gree and Lontor franchise retail stores in Nigeria.
Speaking in Lagos yesterday at the unveiling of the Gree and Lontor Franchise Retail Brands Shops in Nigeria, President, Choice International Group, Chief Diana Chen, said that the company is offering Nigerians the investment opportunity to own six regional logistics centers or the Gree Air Conditioners and Lontor Rechargeable home appliances brand shops in viable locations across the states of Nigeria.
She said: “The Choice International Group (CIG) has built these brands into a world-class electronic retail chain in Nigeria opening no less than 20 brand shops in Lagos and Ibadan over the last 18 months.
“With over 100 unique products on display, the Gree & Lontor Retail Brand shops have recorded remarkable turnover and profitability over the past year.
“From the sales performance of our existing stores, Gree & Lontor is one of the most profitable businesses in Nigeria with yields of an average return on investment of 50% and above per annum.
“It is the decision of the company to open up these opportunities to the investing public through a Franchise Retail partnership where investors can own any of the six Regional Logistics Centers or the Gree and Lontor Brand shops in viable locations across the states of Nigeria.
“With a variety of high-quality affordable products and industrial electrical appliances sales continue to grow geometrically. Our ambition is to roll out 250 stores in Nigeria in the short-term and provide a consumer experience that has never been seen in these climes.”
Explaining further, he said for the Regional Logistic Center, “there are only six of such opportunities across the geopolitical zones of the Country. This Investor will become the mega distributor partner of the Gree & Lontor brand and service a network of brand shops. The Capital outlay for this model is $1 million.”
Explaining the requirements for the Gree & Lontor Brand Shops Franchise, he said: “The investor has to secure a store size of 120-1503qm at any choice location, shopping mall, plazas, high streets and even residential neighbourhoods. The initial capital outlay is N20 million.
“Gree & Lontor will provide marketing, sales and operations support; through our highly experienced and innovative in-house teams working closely with each investor or franchisee.”
Chen added that, “The investors are guaranteed to earn 25-35% trade margins on the over 100 unique products to cover cost of store rental, staff salary, electricity and logistics as well as earn significant net profit. The Return on Investment on each of these models is guaranteed at 35% and above per annum.”