firm was established in the year 1969 as Lara Educational Supplies Shop. It was
however incorporated as a Limited Liability Company in 1978, and the name
changed to Lara Bookstores Ltd., with Registration Number RC 24942.
We are glad
to mention that for almost 40 years, we have operated continuously in this
sector and currently, we maintain a dominant position nationally.
Extensive experience in
the procurement of books and other educational materials from Nigeria and other
countries such as China, U,S.A, and the United Kingdom;
in conducting international business;
in developing training curricula for multi disciplinary training in the Retail
in conducting marketing research on educational book and non-book products;
knowledge in the use of computer software such as spreadsheets, word processors,
data base management, statistical analysis packages for Bookstores Management;
to utilise application software for such activities as financial control,
budgeting, payroll, personnel records and stock control;
number of franchises in Educational Institutions and cities all over Nigeria.
MEMBERSHIP OF PROFESSIONAL
Member, Nigerian Institute of Management
Member, Institute Of
Member, Kwara Chamber Of Commerce, Industry, Mines & Agriculture
Member, Nigerian Booksellers Association
our management have participated in the following workshops and trade fairs:
International Book Fair: May 8 -13, 2006
Book Fair 14th – 18th March, 2004
Bank Procurement Workshop: June 24 – 28, 2002
Book Fair 5th May, 2004
Booksellers Association Conference, 1995
Booksellers Association Conference, Houston, Texas, USA, July 1991
Management Course, Organised by Simplex Systems Inc., Detroit, USA, 1994
Management Course, Organised by The British Council, 1997
THE CONCEPT OF FRANCHISING
Franchising is a business arrangement in which one party (the franchisor (LBS)
allows others - the franchisees, to use a business name, or sell products in
such a way that the franchisees can operate their own legally separate business.
This represents a complete package, which allows the franchisee to use a format
proven by the franchisor, whilst retaining independence as a business. There is
an agreement between both parties which sets out how the business will be run,
and the obligations of both parties.
FRANCHISE (LARA BOOKSTORES FRANCHISE)
LBS franchisees have access to over 35 years of bookselling and retail
experience and the collective wisdom gained from several stores. LBS franchisees
are expected to come from many backgrounds and have a wide variety of
experiences. Our franchisees enjoy the benefits and freedom of operating their
own businesses, under the guidance of our proven retail system. They also have
the security of the LBS experience and market presence behind them. Following a
successful format enables each franchisee to maintain consistent standards in
BENEFITS OF OWNING AN LBS FRANCHISE:
well established and recognisable brand name
experience since 1969
proven retail system and a comprehensive, up-to-date Operations Procedure to
ensure the smooth running of every aspect of the franchised business
negotiated supplier terms and access to exclusive book and non book product
comprehensive national advertising campaign covering specific promotions and
support and training from booksellers experienced in running a retail bookstore
with property issues such as store location, and store fit outs
This will be discussed in detail at a later stage, but generally the terms and
conditions in the contract will vary from franchise to franchise depending on
its size, location, and several other parameters. The factors to be included in
the LBS franchise contract usually include the following:
operational responsibilities of the franchisor and franchisee.
cost of the franchise.
location and territorial rights.
duration of the franchise.
and termination conditions.
This will cover the rights of both the franchisor (LBS) and the franchisee
within the business, including:
degree of control of the franchisor.
management assistance, training and development to be provided by the
management information system to be implemented, including accounting and
goods and services to be supplied and whether they can only be purchased though
restrictions on what can be sold or supplied by the franchisee.
advertising arrangements for the franchise on a national or local level and the
allocation of costs in this respect.
RESPONSIBILITIES OF THE
The franchisee will be the owner of the business, and will therefore take
responsibility for funding and managing the business on a day-to-day basis. The
franchisor on the other hand will take responsibility for procuring merchandise
and supplying same to the franchisee on concessionary terms. The franchisor
(LBS) will also put its experience and goodwill, spanning over 3 decades, within
the industry at the disposal of the franchisee.
franchisee will be responsible for every aspect of the routine operation of
their stores including staff recruitment and training, merchandising, stock
purchasing and stock management, and all accounting and record-keeping
functions. Procedures and guidelines for these and many other aspects of the
franchised business are issued by LBS and further training and assistance is
always available when requested.
For those not familiar with the book industry, the number of titles to choose
from can be quite daunting. Assistance in dealing with this process is provided
in the initial training, however new franchisees must be prepared to learn about
the industry and listen to advice.
The book industry, like many other retailers, relies heavily on seasonal peaks
in the trade cycle. This means that a large percentage of our sales, and our
positive cash flow comes at this time. Franchisees must be prepared for the
increase in stock required to meet this demand and for the subsequent bills that
must be paid. Successful cash flow management is one of the key components of
running an LBS franchise.
MANAGEMENT SUPPORT & TRAINING
LBS provides its franchise owners with comprehensive initial training and
ongoing support and advice regarding all aspects of managing their business. LBS
also provides franchisees with field support for every outlet either physically
or by telephone, fax or e-mail. This means that franchisees have regular contact
and bookselling advice from experienced LBS staff.
Regular meetings and training programmes may be conducted for both
franchisees and their staff to ensure that they and their staff have management,
customer service and merchandising skills of the highest possible standard.
One-on-one training can also be arranged for individual stores with specific
With the purchase of an LBS franchise, each franchise owner undertakes
a comprehensive training program, including classroom style training at our Head
Office, with experienced LBS staff, practical training in a company-owned store
and follow-up visits from area representatives and National Office staff.
The current LBS store fit out design has been formulated by retail design
experts and professional booksellers and incorporates a customer-friendly image
and all the practical elements required to present our products effectively to
The same design concept will be put in place in all franchisees to ensure a
consistent image in all outlets.
The LBS Franchise term is 10
years (one five year term with a five year option). The costs to the franchisee
will be discussed later, but may cover the following: