Think you’re ready to expand through a franchise model…read this
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. […]
Support vital for franchise success
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 […]
Who Wins When A Franchisor Discounts Products?
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 […]
10 Tips to Rescue Your Brand from the Brink
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 […]
What you need to know about opening a petrol station franchise in South Africa in 2018.
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 […]
Insights on recruitment that could affect franchise performance
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 […]
3 Ways communication helps you run your franchise better
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 […]
Are Your Franchisees Your Best Salespeople?
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, […]
Selling your first franchise? Consider these key pointers
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. […]
5 Common Myths about Franchising That Need to be Debunked
There are certain things you might have heard that are putting you off from buying a franchise. There may also be some exaggerated facts that try to seduce you into buying a franchise without thinking. Whatever you may have heard, we are going to dissect some really common ones and serve them up you with […]