When you make a commitment, all the pros and cons will have been assessed and you are willing to give your time and energy to something that you believe in. This is true whether you are a Franchisor or a Franchisee. The following are some aspects of commitment. 1.Love what you do. Commit to love […]
Knowing why franchises fail can make a big difference in the ultimate success or failure of your franchise. Here are some of the most commonly cited reasons behind franchise failures: Ineffective franchisors. Beware of franchisors who are only in it to make a quick buck at your expense. Contact other franchisees in the system and ask […]
Franchising is a substantial force in the economy South Africa punches above its weight when it comes to franchising, and food franchising in particular. Franchise Association of SA (FASA) statistics show that 88% of franchises in SA are home-grown brands, with only 12% from abroad. Franchising’s contribution to GDP is 13.3%, making it a substantial […]
As an experienced and highly successful independent business owner, the idea of converting your business into a franchise requires you to weigh up the pros and cons: Benefits of being a franchisor Access to ready-to-operate locations You don’t have to recruit franchisees from scratch when starting a franchise system. Established business owners might be looking […]
Together with the Franchise Agreement, the Disclosure Document is the most important document in franchising, both documents being strictly governed by the Consumer Protection Act 68 of 2008 (CPA) which came into effect on 01 April 2011. It is a legal requirement that franchisors provide prospective franchisees with a compliant Disclosure Document but unfortunately some […]
. Lessons from a local franchisor who launched a multi-million-rand global business in under five years. Franchising is usually promoted to young aspiring entrepreneurs unable to launch businesses due to financial constraints and a lack business acumen. While becoming a franchisee is a great entry-level entrepreneurship strategy, you don’t need someone else’s successful business idea […]
Multi-unit franchising where one single franchisee owns more than one outlet in different geographies, is a growing trend globally. “Multi-unit franchisees are a major trend in South Africa and more franchisors are giving first preferences to existing franchisees due to proven success and understanding of the franchisors brand. This enables the franchisor to grow their […]
The relationship between the franchisor and franchisee is often overlooked by people who are starting out in franchising. This is one of the biggest mistakes that one can do; it creates a lack of mutual understating, it also has a direct correlation to the 10% failure rate in franchising. Riaan Fouche, the Chief Operations Officer […]
There are many aspects that play a role in the success of a franchise and we look at some of the qualities that a successful franchisor will possess. This is relevant to businesses that are considering the franchising route to expand and to prospective franchisees that are looking to buy a franchise. A Successful […]
A lot has been said about franchising being one of the resilient sectors in our economy as it contributes approximately 13,3% to South Africa’s GDP. Thus, people might consider the route of owning a franchise in their entrepreneurial journey. Morne Cronje, Head of Franchising at FNB Business says, “Franchising has a lot of advantages […]
