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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
