Franchise sector withstands tough economic climate
According to the latest research from the Franchise Association of South Africa, 90% of franchisors say they are optimistic about future growth in their businesses. The potential for growth in the franchising industry is strong. Franchisors are optimistic and many are intending to expand their franchise system. The latest stats show that the franchise sector […]
How to Have the Best BEFE Experience
Thousands of people visit the Business Entrepreneurship and Franchise Expo each year, which is at the Ticketpro Dome in Northriding, Johannesburg from 10 – 13 September 2015. One of the biggest advantages of visiting the Expo is that you have the opportunity to talk face-to-face with the exhibitors and obtain the information that you require. […]
New franchise strategies and growing earnings drive SA franchisors into Africa
Times may be tough locally, but that has only encouraged South African franchisors to look beyond the country’s borders and take a long-term view on introducing integrated strategies for the growth of their brands across the continent. “The stage for expansion of franchise operations in Southern African Development Community (SADC) countries and beyond has shifted […]
Keeping your franchise store ‘light, bright and appealing’ comes with a price tag
Buying a franchise may seem like a short cut to business success. However, being a franchisee also comes with great responsibilities. As a result, it pays to ask the right questions so that you know exactly what your long-term obligations will be, especially when it comes to ‘freshening-up’ your franchise outlet. “Successful franchised outlets attract […]
Structures to expand your brand into new international markets
There are various structures that have been developed to aid franchisors who want to expand their brands internationally, to deal with the difficulties in managing international franchise networks. 1. Master Franchise The most common and simplest structure for expanding a franchise internationally is by awarding Master Franchise Rights in the target country to a suitable […]
Incentives can unlock the potential of franchises
An incentive is defined as “something that motivates or encourages one to take action”. Taste Holdings has recognised the significant potential of incentives to achieve a variety of positive outcomes within its franchisees’ businesses, both in terms of increasing brand visibility and sales, and strengthening, retaining and motivating the employee body. Lindy Taoushiani, Divisional Marketing […]
Attracting and selecting the right franchisee – key for success
Recruiting quality franchisees is becoming increasingly essential for every franchise business, as the wrong fit can seriously damage the reputation of the franchise. As the franchise sector continues to grow at a fast pace, so does the competition as franchisors strive to make their brands more appealing to potential franchisees. This often leaves franchisors with […]
What Makes An Ideal Franchisor?
Much is written about the ideal franchisee and which characteristics franchisors are seeking in a potential franchisee. Just as importantly, the ideal franchisor should have certain characteristics as potential franchisees are investing their hard earned money and entrusting their future with the franchisor. Successful businessmen in the world of franchising share the same traits and […]
What to consider when investing in a new franchise brand
Many entrepreneurs entering the world of franchising often find it challenging to decide whether to go with an established brand or throw their hard-earned savings into a totally new venture. “The dilemma of staying with the tried and trusted or going with something new that seems to offer great opportunities is something many potential franchisees […]
Training is key for prospective franchisees’ success
For franchisees to be successful, a strong and formative management approach is necessary, where emphasis is placed on elements such as stock control, organising, planning, staff management and understanding the rules of the franchise. Training Manager at Sandwich Baron, Sergio Martins, says without this kind of structure and management, franchisees could struggle to achieve the […]