Any growing business will face some major obstacles along the way and a franchise business is no different. Many franchise businesses experience a rapid initial period of growth – it could almost be described as a “honeymoon period” – when the concept is brand new and exciting, the franchisor is full of ideas and […]
Almost every entrepreneur – at some point in their journey – considers going into franchising as a guaranteed route to attaining business success. “Despite the sector having a higher success rate compared to its counterparts, franchising has its pros and cons and will not necessarily be suitable for every entrepreneur. Entrepreneurs who are considering or […]
Last month we posed the question, “Will Your Franchisor Grant You A Franchise Again?” looking at it from the franchisor’s perspective. This month we are putting the shoe on the other foot and asking the question, “Will Your Franchisees Invest In Your Brand Again?” looking at it from the franchisees’ perspective. Remember when you […]
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 amongst all the franchise sectors, restaurants and fast foods continue to dominate market share due to increasing demand from consumers. […]
So you think you want to buy a franchise, but you’re not so sure it would be the right choice. After all, why should you spend a premium on a big name when you can just duplicate their efforts? Think again. There are a few good reasons why copycatting doesn‘t work, and in hard economic […]
Local entrepreneurs are behind some of the country’s most iconic franchise brands in the country. The good news is 92% of all franchise concepts in South Africa are home grown, this includes popular Portuguese restaurant Nandos, braaied meat fast-food restaurant, Chesanyama, and even the luxury spa shop Sorbet. Many brands have embraced the […]
Remember when you were granted your franchise by the franchisor, the excitement, the enthusiasm, so many ideas, the opportunity, being your own boss and probably many more positives. Unfortunately for many franchisees this honeymoon period ends and for some sooner than others. As a franchisee, you need to constantly be asking yourself: Do I consistently […]
One of the most important factors which has a vital effect on the growth of your franchise, is SERVICE DELIVERY. Service delivery starts with communication because by communicating you are delivering a service. When customers experience great service they feel that you care about developing a long-term relationship and that it means more than just […]
We asked Vera Valasis, FASA’s Executive Director to give some tips to aspiring franchisors/franchisees – and this is what she advises … Potential franchisors Not every single business concept or idea is franchisable. Don’t franchise your business unless you have a good financial track record of the performance of the business in a number of […]
Akhona Qengqe, transformation director, KFC and chairperson of FASA New FASA chair, Akhona Qengqe says growing and empowering the SME and franchise sector will be at the centre of her tenure as chair of the Franchise Association for 2019 and 2020. In line with results from South Africa’s first study on the SMME landscape by […]
