Building strategic alliances to grow your business
A strategic alliance is when your company enters into a loose partnership with another business to help each other make extra profits. Here are five strategies for building effective strategic alliances: Define your target market. This is a fundamental when it comes to any form of marketing. Failure to define your target market will result […]
Can franchisees really cope with rising interest rates and other pressures?
The recent decision by the South African Reserve Bank to increase the interest rate to 6% has impacted on all sectors of the economy from consumers, big conglomerates to franchisees. As with all business enterprises, the economic conditions of the day impact directly and indirectly on the operations of franchises – their production, management, pricing […]
The Evolution of the Franchising Customer
The Hybrid Consumer The rise of the ‘hybrid consumer’ is an emerging and growing trend with significant implications for the South African franchising industry. It is pivotal that these new customers are understood so as to leverage a profitable relationship with them. At this year’s FNB Franchising Leadership Summit, Dion Chang, trend commentator and founder […]
Leasing premises – know what you are signing!
Most business premises are rented, where the lease, which contains the terms and conditions is entered into between the tenant and the landlord. Leases are usually drawn up in standard format and are mostly geared towards protecting the landlord’s interests. The lease terms and conditions are not normally open to negotiation but do not […]
Instant cash flow: Turn your company into a money machine
Novice entrepreneurs quickly learn the depth of truth behind the old saying: “It takes money to make money”. Beyond profit, cash flow is king in business. Launching a business can be next to impossible without cash to work with. It is therefore vital for start-up businesses to establish cash flow as quickly as possible during […]
Securing funding for a franchise
The idea of starting a business can be a daunting but exciting one with funding being one of the main aspects to consider. Understanding how the funding process works and what options are available to start-up businesses is key to ensuring the business starts on the right footing. Looking at the franchise industry’s funding process, […]
Free franchise information evening
SA Franchise Brands invites you to a FREE Franchise Information Evening. When: 18h30 on Thursday, 22 October 2015 at Where: The Kelvin Grove Club, 144 Campground Road, Newlands, Cape Town. Kevin Antonie, Franchise Industry authority and CEO of SA Franchise Brands will share this information which will be of special interest to prospective Franchisors that […]
10 steps to franchise success
Consider the following steps to franchise success. Finance Fully understand the total cost of the investment including your own living costs for at least six to eight months. Be sure that you are comfortable with this as you do not want unnecessary pressure on you while you are developing your business. The Franchise System Essentially […]
Get the best from equipment finance for your franchise
Anyone who owns and operates a franchise will tell you that cash flow determines whether your business succeeds or not. However, unexpected expenses can occur and many will be linked to the need to urgently buy or replace equipment. Therefore, the potential for a negative impact on cash flow always exists. When expensive equipment is […]
Six ways to build a winning team
By Harry Welby-Cooke – leading business and executive coach and SA’s Master Licensee for global franchise company – ActionCOACH I’m often asked by business owners about how to get their employees working together and heading in the same direction. The answer lies in investing time and effort into building a strong team. Here are six […]