Three franchising trends to look out for in 2019
A recent survey conducted by the Franchise Association of South Africa (FASA) revealed that the franchising industry has grown from contributing 13,3% to the South African Gross Domestic Product (GDP) in 2017 to its current figure of 15,7% despite the tough economic climate and its impact on franchises. Mornè Cronje, Head of Franchising at […]
How Sales Has Changed!
In the not too distant passed, sales was based on transaction selling which mainly concentrated about the single sale and short-term solutions. Although this approach is not ineffective, the more efficient approach is to build relationships. A relationship building sales approach is about building trust with your potential customer. By having your customer’s trust, means […]
How to find the right franchise opportunity for you
Several years of strong sectoral growth combined with business opportunities that are often backed by an investor safety net is making franchising the top choice for many who want to own their own business. This assessment is based on the strong foundations of my own experience of establishing Cash Converters nearly a quarter century ago […]
Multi-Brand Franchise Ownership
Multi-brand franchising is owning several franchises under different brand names as opposed to multi-unit franchising which is owning several franchises under one umbrella. Successful franchisees looking for new avenues of growth often consider and pursue multi-brand franchising which can be very lucrative, exposing them to new and exciting challenges. Multi-brand ownership has significant benefits for […]
5 tips for franchise agreement compliance
South Africa has some great homegrown franchises – Mugg and Bean, Steers, Debonairs and Nandos, to name a few. South Africa is also no stranger to international franchise groups, such as McDonalds, KFC, Wimpy and SPAR, although there has been an increase in the number of international franchises investing in South Africa in recent years. […]
Commitments for Excellence in Franchising
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 […]
Top 10 franchise pitfalls
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 […]
What to consider when purchasing a franchise
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 […]
The positives and negatives of turning into a franchise
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 […]
IS YOUR DISCLOSURE DOCUMENT CPA COMPLIANT?
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 […]
