Caguas, Puerto Rico, January 10, 2025:– Ricardo Rivera originally ventured into the world of franchises in 1998 when a relative of his acquired the rights to a North American franchise in Puerto Rico and offered him to lead that franchise system. The business, called Truly Newland, was a beach control concept. From that time to date he has not parted ways with the franchise business. On a personal level, Rivera calls himself a family man and passionate about franchises.
For the businessman, the greatest achievement of his more than 20 years of experience are the personal relationships he has built, “without a doubt it is the collection of friendships that I have achieved over these more than 20 years. People who started out as clients and have become great friends.” Rivera assures that he continues to do this work because of the number of wonderful people he has met along the way and that he really enjoys seeing how this business changes their lives.
FM: What do you like best about the work you do as a franchise consultant?
RR: I think I possibly feel the same satisfaction as a doctor who brings children into the world. I like births, my greatest satisfaction is creating new opportunities. When I see people’s lives change when they are successful with a franchise and grow their business through that format. They can become millionaires almost overnight and in turn you are changing the lives of others, giving someone the opportunity to have their first business.
FM: Tell us about your work developing brands in Puerto Rico
RR: Brand development is the same in the Dominican Republic, Puerto Rico or anywhere in the world; it depends on who does it. We know how to adapt and identify when it is time to franchise or resolve other business issues before taking the step to franchise. We work on brand development, how it looks and compares to competing brands. What a franchise consultant does is standardize processes in a general sense: administrative, operational, image so that the model can be replicated.
FM: What are the most important achievements of the Puerto Rico Franchise Association?
RR: The association is mainly the educational wing that exists in Puerto Rico to promote the franchise model among Puerto Rican businesses. It is a more official entity, which seeks better conditions for businesses that are in the franchise model, and is pending legislation that may affect franchises in PR. It has been a proven model since the 50s. In addition to workshops and seminars, we hold an annual event called Expo Franquicias Caribe. We did it last year in September in the beautiful city of Caguas, Puerto Rico.
FM: What are some of the common challenges that Latino franchisees face and how can they be addressed?
RR: This is what unites Rafael and me. I am a preacher on the subject of franchises. There is a great challenge among the Hispanic communities, and that is that the industry is controlled by the Anglo-Saxons and they are not looking at the Hispanic market. They are not getting carried away by the metrics that say we are the fastest growing population, and for some reason they still don’t look at us. What is a Puerto Rican doing giving classes on the concept of franchises to a family from Mexico in Dallas. This is because no US consultant has approached families to provide the service.
FM: What do you think of the work that Mr. Rafael Álvarez is developing with his Franquicias Fest Expo?
RR: Rafael and the entire work team that is involved in this are super committed to that cause. Rafael has more than pants to face the reality that the system is designed one way and not for us Hispanics. This is a harsh reality that we must turn into an opportunity and occupy a space that is not being occupied. The expectations are very positive because it has put many people who were not looking and paying attention to what is happening with Latinos and I think that this has already been achieved. I am going to take 10 brands from Puerto Rico there so that they are represented by my company. I trust him 100% and his enthusiasm is very contagious.
FM: What is your advice to successful Latino entrepreneurs who are considering starting a franchise business in the United States?
RR: That they be humble enough to say if they don’t know enough about this subject and educate themselves. Follow the LFA referent in their respective countries so that they get involved and seek information. Because when they understand the benefits of franchising, of converting their business into a franchise, if they do it right, it will be the best decision they will make in their lives.
