By: Jurgens Boshoff, Head of Distribution: FNB Financial Advisory The Covid-19 pandemic has made it more important for franchisees and business owners to have adequate succession plans in place. This is to ensure continuity if the business owner decides to pursue other interests, passes away or becomes permanently disabled amongst other factors. It is natural […]
Once you’ve completed your franchisee training with ambitions of becoming one of the biggest franchises around, it’s down to you to make it happen. The franchise model can give entrepreneurs a lot of security when it comes to running your own business, and you should get plenty of support and advice from your franchise. […]
1. Assume the franchise will be a success Any new business venture involves risk and there’s really no such thing as a guaranteed success. If you’ve picked a good franchise model with evidence of successful franchisees, then you’re off to a good start. But staff, location or territory, and a solid customer base, along with […]
One of the first budgets that most businesses slash during tough economic times, is their advertising budget. This may make perfect sense as businesses seek to reduce their spend as their cashflow is tight and revenues decline. But does this make perfect sense or is it short-sighted? 2020 has been an incredibly tough year […]
Franchising your business can be a rewarding experience when done right Many business owners dream of seeing their business grow and scale over time – not just for their own fulfillment, but in the hopes of eventually selling that business and turning in a worthwhile profit. To make that happen, you’ll often need a lot […]
When determining whether to move forward with franchising your business, your ability to commit to the process outweighs all. Independently-owned businesses weighing their growth and expansion options would be remiss in not exploring franchising as a means of scaling their concept. That being said, franchising isn’t a realistic means of expansion for every business. Entrepreneurs […]
Working from home is the new norm in the Covid-19 pandemic that we are experiencing world-wide. Heck, it even has its own abbreviation WFH which everyone probably knows what it stands for now. There are many work from home franchise opportunities and here are some of the benefits if you have the discipline that […]
Think you’ve got what it takes to make it as a franchisee? Are you sure you’ve got the skills to pay the bills? To make sure, we’ve compiled a list of 10 attributes a good franchisee will foster and develop over the years. Energy Franchisees need to bring a lot of energy to the job. When […]
Owning a franchise is a shortcut to business ownership. But what’s it like to be a franchisee? Here’s the good, the bad & the ugly side of being a franchisee Do you fancy owning your own business? Are you wondering what’s like to be a franchisee? Wonder no more. Yes, owning a franchise can be […]
ATTITUDE is an extremely complex word but by simple definition, it means a way of feeling or acting toward a person, thing, or situation. There is no doubt that the Covid-19 pandemic has created tough challenges for the franchise industry, but opportunities also exist as franchisors look to franchise new innovative concepts or diversify […]
