Franchising is a universally accepted and successful business format that has revolutionized the way small business is run and has contributed extensively to entrepreneurship, skills transfer and job creation. The two most universally accepted forms of franchising are: Business format franchising This is defined as a distribution network operating under a shared trademark or trade […]
7 Reasons to consider owning more than one franchise brand Owning more than one franchise brand is now all the rage. This guide is the only one you’ll need to read to learn if multi-brand franchise ownership is for you. Owning franchises across several different brands is now hot and trendy in the franchising sphere. […]
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 […]
