The Benefits of a Conversion Strategy for Business Owners to Become Franchisees
Following on from my article “The Benefits of a Conversion Strategy for Franchisors” in the last Newsletter, there are also benefits for business owners adopting a franchise conversion strategy for their business operations and becoming franchisees. Having done the homework and research necessary to find the right franchise for your business, there can be many […]
The ABC of Franchising
No matter how challenging the economy, entrepreneurs will continue to look for exciting new opportunities and viable businesses to invest in. The franchising industry offers plenty of these, making up 13% of the GDP according to the Franchise Association of South Africa (FASA). “The industry is still growing and entrepreneurs see the value in franchise […]
Franchising – A Question Of Relationships
Many business people have the misguided perception that just because what goes on inside their business isn’t visible to the public and therefore has no impact or relevance on its customers or clients. This is where many business owners go wrong. Let’s look now at some of the important things you need to consider to […]
The Benefits of a Conversion Strategy for Franchisors
Simply put, a conversion franchise is an existing business that is converted to a franchise. This will typically mean that the conversion franchisee will rebrand the business and change the décor, to conform and operate as part of the franchise network. The Benefits of a Franchise Conversion Strategy: A franchise conversion strategy can mean faster […]
How benchmarking can help you better manage your franchise network
What’s the current state of your franchise network? If you can’t say ‘great’, perhaps it’s time you managed your franchisees better to optimise operations. One weak link is all it takes to affect the rest of the chain negatively, and sometimes irreparably. The importance of checking that franchisees are maintaining standards and following the system […]
Key traits of a successful franchise
South Africa’s exponential franchises took centre stage at the 6th edition of the annual FNB Franchising Leadership Summit held recently at Indaba Hotel in Fourways, Johannesburg. Themed “exponential growth”, the Summit coincides with the world-wide commemoration of Global Entrepreneurship Week (GEW), which celebrates the remarkable contribution of entrepreneurs to the global economy. The 2017 Summit […]
The Importance of Providing a Positive Customer Experience
A positive customer experience is the exceptional service and/or products that your franchise provides, that meets or exceeds your customer’s expectations, thereby increasing customer satisfaction, loyalty and advocacy. A franchise cannot exist without its customers. By customers having a positive experience, your franchise will win new customers and perhaps more importantly, customers will become loyal […]
What makes franchises recession proof?
Over the past four years the franchising sector has displayed resilience, consistently growing its contribution to the country’s Gross Domestic Product (GDP) from 9.7% in 2014 to its present contribution of 13.3% – an upward trend that is most likely to continue despite the lackluster economy. The current growth of 13.3% is broken down by […]
Strategies for successfully Franchising a Business
Many business owners consider expanding their businesses through franchising, however, unless well planned, franchising your business can cause a huge amount of heartache and pain. Detailed below are key factors that should be taken into consideration for you to be able to successfully franchise your business. 1. Proven Products and Systems Anyone buying a franchise […]
Customer Centricity – The Key to your Franchise’s Sustainable Future
Customer centricity is creating a positive customer experience at the point of sale and after-sale, where the needs of your customer come first. It is the actions taken by a franchise to support its sales and service staff, in considering customer needs and satisfaction, as their major priorities. Creating a customer centric culture is all […]