Franchises are becoming increasingly popular in today’s business market. It’s not just customers that are flocking to them, either. Entrepreneurs are looking to franchising to expand their knowledge in management and make a profit for themselves. However, what makes franchises different from other kinds of businesses? While you may be familiar with franchises in […]
What Will Your Franchisees Say?
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, […]
Cancellation of the Franchise Agreement after the cooling off period
A franchise agreement may be cancelled after the ten-day cooling off period has expired, if: the agreement itself is invalid, or where one of the parties has been induced to enter into it by a misrepresentation by the other, or where one of the parties has committed a material breach of the agreement. If […]
7 Qualities to look for in the right franchise for you
If you’re seriously considering franchising, you’re not only pursuing excellence in your personal path, but also seeking it in the franchise you choose to partner with. Sifting through the ocean of information about your options can be a daunting process. Here are seven key qualities you can use to help prioritize the most important […]
The importance of the disclosure document when buying a franchise
The key to making an educated decision when becoming a franchisee is to make sure that the franchise you are investigating has a Disclosure Document as required by the provisions of the Consumer Protection Act as they relate to franchising. Becoming a franchisee can be somewhat daunting, especially when you don’t know how to make […]
Five reasons startups are choosing franchise opportunities
When you mention startups, most people think unique, fresh ideas, not an established franchise. But the terms “startup” and “franchise” make a great combination. Restaurants, salons and retail are the types of businesses most people associate with franchise opportunities. But there are fresh new franchise opportunities arising every day. Many of these new franchise […]
Looking at the Work-From-Home franchise scenario
Work-From-Home or WFH has become the forced and recognised norm for most people over the last few months due to the worldwide Covid-19 pandemic. For many it has been an easy transition and for some, exceedingly difficult to adapt. There are obviously pros and cons when it comes to working from home as there may […]
Planning for the succession of your small business or franchise
By: Jurgens Boshoff, Head of Distribution: FNB Financial Advisory The Covid-19 pandemic has made it more important for franchisees and business owners to have adequate succession plans in place. This is to ensure continuity if the business owner decides to pursue other interests, passes away or becomes permanently disabled amongst other factors. It is natural […]
How to build a franchise business in 10 fool proof steps?
Once you’ve completed your franchisee training with ambitions of becoming one of the biggest franchises around, it’s down to you to make it happen. The franchise model can give entrepreneurs a lot of security when it comes to running your own business, and you should get plenty of support and advice from your franchise. […]
5 Mistakes to avoid when buying a franchise
1. Assume the franchise will be a success Any new business venture involves risk and there’s really no such thing as a guaranteed success. If you’ve picked a good franchise model with evidence of successful franchisees, then you’re off to a good start. But staff, location or territory, and a solid customer base, along with […]