Archive | Franchising

The positives and negatives of turning into a franchise

As an experienced and highly successful independent business owner, the idea of converting your business into a franchise requires you to weigh up the pros and cons: Benefits of being a franchisor Access to ready-to-operate locations You don’t have to recruit franchisees from scratch when starting a franchise system. Established business owners might be looking […]

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IS YOUR DISCLOSURE DOCUMENT CPA COMPLIANT?

Together with the Franchise Agreement, the Disclosure Document is the most important document in franchising, both documents being strictly governed by the Consumer Protection Act 68 of 2008 (CPA) which came into effect on 01 April 2011. It is a legal requirement that franchisors provide prospective franchisees with a compliant Disclosure Document but unfortunately some […]

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Thinking of going into franchising?

A lot has been said about franchising being one of the resilient sectors in our economy as it contributes approximately 13,3% to South Africa’s GDP. Thus, people might consider the route of owning a franchise in their entrepreneurial journey.   Morne Cronje, Head of Franchising at FNB Business says, “Franchising has a lot of advantages […]

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Franchising: The most honest way of doing business

  We’ve entered an age where consumers choose their products and services as much for their values as what they offer. That’s what makes franchising, as a truly transparent business model, an appealing option for today’s would-be business owners.   According to Clive Robinson, Master Franchisee and Education Consultant at Tutor Doctor, there are three […]

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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 […]

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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 […]

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