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 […]
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. […]
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 […]
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 […]
Over the last ten years, the franchising industry has seen a trend of more women taking up opportunities in franchising and this is expected to further increase over the next five years. According to the international Franchise Association (IFA) there are more than 25% of women operating franchises in the world and that doesn’t include […]
While brands in South Africa are not immune to the risks and challenges associated with a recession, their established reputations and relationships with customers means that customers will still favour big name brands – even when spending is curtailed in line with falling disposable income. Henk Botha from Absa, shares his thoughts on Quick Service […]
South Africa has over 35 000 franchise outlets that employ more than 300 000 people. Consequently, franchising holds the key for job creation, because the failure rate of franchise businesses is far less than a regular start-up. Morne Cronje, Head of Franchising at FNB Business says, “In spite of the economic slowdown that is having a […]
As the South African economy continues to navigate economic challenges; the knock-on effect on consumers is one of the main issues keeping new franchisees awake at night. Morne Cronje, Head of Franchising at FNB Business says “despite the resilience of the franchising sector which contributes almost 12% to South Africa’s GDP; and generated a projected […]
These insights on the power of relationships, in growing and sustaining a business, can allow you to bolster your business network for perpetual success. Did you know that the franchising sector makes up 12 % of South Africa’s GDP? If this is the case, then it’s no surprise that the sector is rife with opportunity. […]
