Microfranchises as an innovative approach for empowerment of vulnerable entrepreneurs in post-conflict Colombia

Abstract

This article discusses the potential of microfranchises as an inclusive, scalable, and sustainable business model to help vulnerable groups, such as women, ex-combatants, and indigenous people, overcome poverty and unemployment in Latin America. The authors argue that social entrepreneurship, which focuses on creating social value rather than profit, can play a meaningful role in incorporating the social component of assisting and empowering the poor. However, external and internal barriers to the scalability of business models still remain challenging. The authors suggest that more initiatives should value the bottom of the pyramid (BOP) as entrepreneurs and co-inventors, adapting to each country's conditions while generating economic, social, and environmental benefits. The paper examines microfranchises for vulnerable groups in Latin America and how microfranchises can scale to provide a higher impact on society. The authors argue that microfranchising is aligned with BOP 2.0 and 3.0, which focuses on the co-creation of products and services and the entrepreneurial activity of businesses in the BOP. The article highlights the importance of context in the adaptability of entrepreneurs in BOP 3.0 and the positive correlation between the spatial distribution of the microfranchising and the growth of its network of interest groups in the BOP 3.0.

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