Buying a franchise may be a good way to start a business if you don’t want to start from scratch. But it isn’t always. Here are some facts to help you decide if buying a franchise is the right choice for you. Are you considering buying a franchise? If you want to own your own […]
Whether you’re a budding entrepreneur eager to invest in South Africa’s dynamic franchise sector, or you’re an existing franchisee hoping to boost profitability and efficiency, Burt Gunning is the guy to take your cue from when it comes to running a successful business. Burt Gunning As the owner and MD of Gunret Foods, Gunning […]
Various structures have been developed to aid franchisors who want to expand their brands internationally, to deal with the difficulties in managing international franchise networks. 1. Master Franchise The most common and simplest structure for expanding a franchise internationally is by awarding Master Franchise Rights in the target country to a suitable indigenous individual […]
Location is everything … or is it! The right location for your franchise will be dictated to you by the criteria for the specific industry sector it serves. If you go to your customers, rather than your customers coming to you, it makes sense to pursue a home-based or a location where accessibility and […]
BUYING A FRANCHISE RESALE What’s better than buying a franchise? Could it be investing in an existing franchise for sale instead? There are many reasons why this could be the right decision for you. After all, when you start a franchise business, you’re bringing a brand, product or service to a new area. The company […]
Entrepreneurs venturing into new business opportunities continue being attracted to the tried and tested franchising concept, which can withstand the harshest economic circumstances. Andre Beck, sector head: fast food and restaurants at FNB Business, says among all the franchise sectors, restaurants and fast foods continue to dominate market share due to increasing demand […]
If the thought of launching a business and becoming your own boss is something you’ve always entertained, it’s wise to have an idea of what it will cost to keep your operations afloat. As you read this you may think about overhead expenses—things like rent, utilities and insurance—however, if you’re considering becoming a franchise owner, […]
Buying a franchise can be a life-changing experience. Make sure it’s a positive experience by doing your due diligence before signing a franchise agreement. A properly designed and executed franchise system can be an exceptional method of expansion, but franchise systems that are poorly designed or not well managed are to be avoided. Below are […]
Franchisee recruitment is an on-going challenge for the majority of franchisors, who seek to find the “right fit” when recruiting franchisees to build their brand. Some ideas to assist with this challenge are: Franchisee Profile When drawing up a Franchisee Profile, be very specific with the characteristics that the prospective franchisee must possess to […]
This growing franchise trend could multiply your chances of success. 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 […]
