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 […]
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 […]
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 […]
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, […]
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. […]
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 […]
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 […]
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 […]
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 […]
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 […]
