Krone Model and Talent Management ventures into franchising
A new business model is being developed in Puerto Rico with Krone Model and Talent Management setting up two franchises and aiming for future local expansions as well as in the mainland U.S.
“Krone is the first agency that has become a franchise at a local level, opening its first two locations in 2022 in San Juan and Caguas,” Krone Model and Talent Management Owner Desiree Abrams said in a recent interview with News is my Business.
The two franchises are “academies that offer modeling workshops, and we’re the first talent and modeling agency” that has incorporated a franchise business model in Puerto Rico, she said.
“Everyone knows that franchise business models are done in big companies,” Abrams said. “I was looking for a way to expand the business and take it to more municipalities.”
The entrepreneur, who has years of experience in the modeling and talent management sector, further noted that in the past she had different “modeling academies,” in San Juan, Hatillo and Quebradillas.
“… I wanted to do something different and then the academy franchises were born,” she said.
She explained that she expects to sell one or two more franchises in 2023.
“We are a model and talent agency, we work with talent of all ages, with different looks, [and train them to work in] commercials and fashion shows, among other areas,” the entrepreneur said.
The franchise academies consist of training models and talent where they participate in refinement and modeling classes, self-esteem courses, and even public speaking workshops, just to name a few.
Abrams said the franchise is San Juan was purchased by Leida Franco, and the one in Caguas by Anne Alvarado.
She said that the Caguas and San Juan franchise owners have invested “close to $8,000 to $10,000.”
The women that have purchased the franchises are already trained in the modeling and beauty industry, Abrams said.
“But we aren’t limited to just that, because when we turn in the franchise, we turn it in with an entire business structure… The important thing for a person interested in having this kind of business is that their passionate about fashion and beauty and have a desire to continue to grow,” she said.
As for her business’ short-term plans, they are to continue expanding in Puerto Rico.
“In the long-term, I would love to expand outside of Puerto Rico, into the mainland U.S.,” she said.
The franchises cost $5,000 and are renewed annually, she explained.
Abrams further noted that to purchase a franchise a request has to be made through the Krone Model and Talent Management’s website. The requests are then evaluated and the best match for the company’s business model are then selected.
