Bronwyn Oliveira, Brand Manager of Maxi’s, a family restaurant chain that forms part of the Taste Holdings group, explains why experience matters in the franchising industry.
When it comes to selecting a business or a brand, experience always counts. Capability, years of service, accomplishments, market reach, and financial and business successes are generally seen as attributes that contribute to a business’s credibility.
While entrepreneurs understand that there are thousands of different franchises to choose from, all of which have their own brand identity and unique selling propositions, potential franchisees also need to compare a number of other qualities that could contribute to the businesses being suited or incompatible to their own needs. Although selecting a franchise of choice depends on person to person, what they want and what they like, who they are trying to engage with and what their ultimate goal is, their studies need to extend beyond the apparent.
Before an entrepreneur decides which franchise they want to invest in, they need to do extensive research to see if the franchisor’s holding company is reputable and worthy of being associated with.
Once a franchise opportunity has been evaluated, potential franchisees need to dig deeper to see if the sector’s characteristics match that of their own, evaluate the holding’s company’s successes and market penetration, gauge their overall business performance and growth against their own expectations, and only then should they determine whether it is the right choice for them. The research findings on the holding company will most likely determine whether an entrepreneur sees a future with the franchisor or not.
Food franchising is a great albeit challenging industry that provides exceptional business opportunities, strong value-for-money propositions, and investment growth prospects.
When considering an established restaurant franchise such as Maxi’s, entrepreneurs will easily see why it has become such an attractive and viable business option for franchisees.
Maxi’s was founded in 1993, by an entrepreneur who saw an opportunity in the market for a family restaurant franchise, offering a wider range of excellent meals and focusing on a quality offering. In April 2005 Maxi’s was acquired by Taste Holdings and has subsequently been operating under it food services umbrella, along with Scooters Pizza, St Elmos, and The Fish & Chip Co. Since its acquisition, the Maxi’s chain of restaurants has grown to 69 outlets. In June 2006, Maxi’s became a member of the Franchise Association of South Africa (FASA), which represents franchisors, franchisees and the professional organisations that service the franchise industry. As the only recognised representative body of the rapidly growing franchise industry, FASA’s aim is to ensure that its members practice ethical franchising and that it continues to develop and expand the business environment for franchising in South Africa.
In conclusion, it is important that entrepreneurs remember that any franchise, not just those within the food industry, should be considered as an investment for the future. If they select the right franchise that is represented by the right holding company, and put in the time, effort and commitment required, they are well on the road to success and financial freedom.
Opinion piece shared by PR Worx.