SEVERAL new jobs are expected to be created for every franchise opened as a result of an initiative run by LIT and Limerick Chamber.
The National Franchise Centre opened above AIB on O’Connell Street in January and the first 22 participants of the FAST (Franchise Acceleration Start-up Training) programme graduated this week.
The centre is believed to be the first of its kind in Europe. Nine of the graduates have set up their own business franchise as a direct result of the programme.
It is expected that up to 500 jobs could be created in the next five years as businesses are set up by entrepreneurs emerging from the National Franchise Centre classes.
Maria Kelly, CEO of Limerick Chamber, told the Limerick Post that the aim of the programme is to create small to medium enterprises in the mid west.
“The aim is to stimulate employment, and Limerick Chamber partnered with LIT to come up with concept and make it a reality.
“There are many ex Dell workers involved and some businesses are up and running already as a result of the programme. “A lot of what is taught centres around confidence in presenting and delivering pitches, which are invaluable in business”.
One participant, Edel Waters, from Lissycasey, in Clare, told the Limerick Post that she has already set up her own franchise, having been made redundant in 2009.
“I was made redundant from RR Donnelly as result of the Dell fall out and have been looking for employment ever since. “I got an email from the EGF (European Globalisation Fund) about this programme and it looked good, so I signed up.
“I am now launching weight management classes, offering various programmes on nutrition and exercise, under the title Health Reach.
“I made so many connections through the course, which showed us how to get where we want to be, including managing investments and time, and how to pick a contract and franchise to go with”.
Every six month FAST programme is taking on 15 applicants and has the capacity to create up to 50 jobs over a three year period.
Jan O’Sullivan, Minister of State for Trade and Development, said: “My role is to help to develop markets for Irish produced goods and services so that extra jobs are created at home.
“Getting people back to work is the most effective way to solve our serious economic problems”.
The programme is modelled on the Limerick Enterprise Acceleration Programme (LEAP) run at LIT.
President of the institute of technology, Maria Hinfelaar, believes that “for every franchise opened following the programme, multiple jobs will be created”.
