In 2015, Omar Yunes entered the list of the world’s prominent entrepreneurs and managers by winning the Best Franchisee of the World Award. The brand he represented, Sushi Itto received recognition for fostering excellence in its services. Yunes country, Mexico was the primary beneficiary. For the first time in history, its franchising sector won on the international platform. However, not much is understood about the BFW award itself. Here are quick facts about it.
The Best Franchisee of the World awards is aimed at motivating hardworking franchisees. It honors their contribution to their respective brands in terms of profits, innovation, savings and influence on the network. Other considered factors include leadership skills and managerial abilities.
Omar Yunes, for example, won the award due to his outstanding contribution to his Sushi Itto brand. Through his efforts, the label had expanded by over 10%. He had created a management model that improved information flow and distribution in the network. His other main achievement was the development of a performance measurement metric. It solved performance issues that had plagued the brand for years.
Only the best wins
The competition does not begin and end at the international level. It starts at the national levels. Participating countries have national competitions that bring together franchisees from the different industries and sectors of the economy. Organizers and adjudicators then conduct the vetting. Only the first two finalists’ proceed to the global level.
In the 2015 competition, Mexico’s national competitions attracted over 34 participants form various firms in the country and the world. Omar Yunes won the national competition followed by Ivan Tamer of Prendamex. Ivan had revolutionized the marketing system of its brand’s network of pawnshops. The two represented the North American Nation in Florence Italy.
The BFW award’s other purpose besides rewarding the crème de la crème of the industry is creating a forum for industrial networking. Leaders from different sectors present their innovations and methods with other leaders. Through these presentations and discussions, firms exchange information on how to improve their services and profit margins without sacrificing quality.