Franchise store upgrades, revamps, face-lifts or whatever the term used, must be taken into consideration when buying a franchise. This is more prevalent in the restaurant, quick service restaurant and retail sectors but always be aware of the clause in you franchise agreement, whichever industry you investigate. The obvious issue is to understand how often […]
The franchise market is an attractive growth strategy for business owners. And while the local market is thriving with an estimated turnover of R587 billion, it’s no guarantee that it will be easy to succeed. That said, if you are thinking about expanding your business into a franchise, you need to do your homework. […]
Franchisor support and infrastructure form the backbone of franchising and provide an ideal mechanism to reduce the risk of business failure. The latest Franchise Association of South Africa (Fasa) survey results show that 72% of franchisees rated their relationship with the franchisor as good. While much of this is attributed to marketing and training, support […]
The Management Service Fee, also referred to as Royalties, is an ongoing payment, usually monthly, from the franchisee to the franchisor, for ongoing training, support, product development, new strategies etc. from the franchisor. There are different ways that the Management Service Fee may be calculated but the most common is a percentage of the franchisee’s […]
Here’s how to design your brand’s turnaround—from the leaders who have directed their own impressive resurrections. KFC and Saladworks have fine-tuned their concepts after falling on hard times. The Great Recession may be nearly a decade behind us, but leaders in the restaurant industry still can’t forget how it brought many brands—even the biggest […]
The fuel retail sector continues to grow in spite of the relatively sluggish economic growth in South Africa. This is according to a new report by the South African Petroleum Industry Association (SAPIA), which found that the sector contributes 8.5% to the South African Gross Domestic Product (GDP). “There are more than 4,600 service stations in […]
A critical aspect of operating any successful franchise chain is getting the right franchisees on board. You’re facing a lot of competition as the franchising industry continues to grow. International brands, local giants, and new innovative entrants to the market require you to step up your game. Not only are you geared for growth, but […]
Managing your business as an independent owner may have been challenging at the beginning, but – as you’ve come to realise – the successful operation of a franchise network requires an extended set of skills. “When it comes to a multi-location business such as a franchise, effective communication is vital,” says Dani Peleva, Managing Director […]
With the introduction of the Consumer Protection Act, 68 of 2008 in 2011, prospective franchisees are entitled to contact any of the existing franchisees, or alternatively visit any of the outlets operated by a current franchisee to assess the information disclosed by the franchisor and the franchise opportunity offered by it. With this in mind, […]
You’re ready to franchise your business, but who do you sell to and how? Your first few franchisees may be the hardest to acquire, but the process will be smoother if you get some basics right. Business experience gained running your independent brand will come in handy, but looking for franchisees is a different ballgame. […]
