One of the most important factors which has a vital effect on the growth of your franchise, is SERVICE DELIVERY. Service delivery starts with communication because by communicating you are delivering a service. When customers experience great service they feel that you care about developing a long-term relationship and that it means more than just […]
I have been asked this question many times before and I will probably be asked this question many times into the future. My simple response to this question is, “What are you passionate about and what can you afford?” Investigate franchises that provide products and/or services that you are passionate about. You see, when you […]
In the not too distant passed, sales was based on transaction selling which mainly concentrated about the single sale and short-term solutions. Although this approach is not ineffective, the more efficient approach is to build relationships. A relationship building sales approach is about building trust with your potential customer. By having your customer’s trust, means […]
Multi-brand franchising is owning several franchises under different brand names as opposed to multi-unit franchising which is owning several franchises under one umbrella. Successful franchisees looking for new avenues of growth often consider and pursue multi-brand franchising which can be very lucrative, exposing them to new and exciting challenges. Multi-brand ownership has significant benefits for […]
Knowing why franchises fail can make a big difference in the ultimate success or failure of your franchise. Here are some of the most commonly cited reasons behind franchise failures: Ineffective franchisors. Beware of franchisors who are only in it to make a quick buck at your expense. Contact other franchisees in the system and ask […]
Franchising is a substantial force in the economy South Africa punches above its weight when it comes to franchising, and food franchising in particular. Franchise Association of SA (FASA) statistics show that 88% of franchises in SA are home-grown brands, with only 12% from abroad. Franchising’s contribution to GDP is 13.3%, making it a substantial […]
. Lessons from a local franchisor who launched a multi-million-rand global business in under five years. Franchising is usually promoted to young aspiring entrepreneurs unable to launch businesses due to financial constraints and a lack business acumen. While becoming a franchisee is a great entry-level entrepreneurship strategy, you don’t need someone else’s successful business idea […]
Multi-unit franchising where one single franchisee owns more than one outlet in different geographies, is a growing trend globally. “Multi-unit franchisees are a major trend in South Africa and more franchisors are giving first preferences to existing franchisees due to proven success and understanding of the franchisors brand. This enables the franchisor to grow their […]
The relationship between the franchisor and franchisee is often overlooked by people who are starting out in franchising. This is one of the biggest mistakes that one can do; it creates a lack of mutual understating, it also has a direct correlation to the 10% failure rate in franchising. Riaan Fouche, the Chief Operations Officer […]
There are many aspects that play a role in the success of a franchise and we look at some of the qualities that a successful franchisor will possess. This is relevant to businesses that are considering the franchising route to expand and to prospective franchisees that are looking to buy a franchise. A Successful […]
