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 […]
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 […]
“Which is the BEST franchise to buy?” is a question that I am frequently asked in the hope that I come up with the solution. This is a very difficult questions to answer as everyone differs and have varying reasons why they want to buy a franchise. You need to ask yourself the following […]
The Basics of Marketing for Franchisees Franchise system advertising efforts have two objectives. The first is to build a strong brand and the second is to recruit customers. Building a strong brand requires that the franchisor and all franchisees send a consistent message to prospective and current customers. For this reason, franchisors in well-designed […]
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 […]
