Ref: IMD-7-2000

Case study

Reference: IMD-7-2000

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Storefriendly Self Storage: Franchising for growth

The case offers a unique perspective into franchising as a business model for growth and a reduced-risk entry path to entrepreneurship, with an application in the Singapore self-storage market.

In 2011, Jes Johansen, a Swedish national, sensed an opportunity to innovate self-storage in Singapore: smaller facilities, with smaller rooms, located closer to the customer and at a higher price per m2, resulting in a smaller rental bill but much higher convenience. He had seen the concept implemented in Hong Kong by a colleague, Kevin Chang, under the StoreFriendly brand name. Jes decided this might be the opportunity he had been looking for. After convincing Kevin to become his partner, Jes set up StoreFriendly Singapore.

After testing and implementing the concept in a single first outlet, proving the value proposition and getting a bit of traction, he decided to accelerate growth through an original franchise system. Over two years StoreFriendly grew to ten franchises and two owner-operated branches. In 2015, SingPost, as part of a broad logistics diversification, approached him to acquire StoreFriendly. With a catch: they wanted to own all the outlets directly…

Learning Objective

Franchising as business model for growth, franchising as lower risk entrepreneurial path, growth management, scaling up, business models, franchise relationships, incentive structures, exit management.
KeywordsFinance
SettingsAsia, Singapore
2012-2018
TypeField Research
Copyright©2018
LanguageEnglish
Related materialTeaching notes, video
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Reference: IMD-7-2000

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Case study

Reference: IMD-7-2000

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