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 […]
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 […]
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 […]
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 […]
Mergers and acquisitions (M&A) have become an important driver of value in the South African franchise industry sector, which continues to grow in both volume and value for investors in this low risk high return sector of the economy. This is despite the recent trend of slow growth in the South African economy. Our […]
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 […]
