How much does an Innovatus FET College franchise cost?

1. Current Franchise Price = R 741,000 including VAT – price valid to 31 May 2013
2. New Franchise Price = R 960,000 including VAT – price applicable from 1 June 2013

Accreditation costs with the Umalusi Council has been increased to R 200,000. In view of this, all franchise agreements concluded from 1 June 2013 onwards, will be concluded at the new and increased price of R 960,000 including VAT.

Therefore, we humbly request that all serious buyers finalise their franchise agreements by 31 May 2013, to take advantage of last years pricing.

The following costs apply to the franchisee buying a new franchise:

• Total Investment = R 741,000 (Includes VAT and a R100 000 Working Capital)
• Upfront Fee = R 350,000
• Money on Call = 50% to 100%
• Monthly Service Fee = 10%

Funds required to start:

• Standard Decor and signage
• Equipment
• Furniture
• Training of staff
• Computers

What you get for your investment

For an investment of R 741,000 (Includes VAT and a R100 000 Working Capital) the franchisor will ensure the following:

• Assist in the establishment of the business by giving advice and direction in respect of the installation, erection, use and application of the Trade Dress, and the procurement and installation of suitable equipment and accessories
• Make the know-how available to the franchisee
• Help guide the franchisee through an accreditation and registration process with the Umalusi Council for Quality Assurance and Further Education and Training; the Department of Higher Education and Training and other accrediting bodies
• By arrangement with the franchisee: when the business is first established, train employees of the franchisee at premises designated by the franchisor and at the franchisor’s expense
• Make available to the franchisee the Franchise Operations and Procedure Manual(FOP) and the Policy and Procedures Manual( PPM) plus other materials that in the reasonable opinion of the franchisor will assist the franchisee to use the system effectively
• Supply the start-up equipment to the franchisee on the effective date
• Advise on the equipment and stocking requirements of the franchisee prior to its commencement of business
• From time to time and in their sole discretion, provide such other know-how as it may deem necessary or requisite for the establishment and operation of the business, including general advice, instruction in purchasing of materials and handling, record keeping and general administration, advice on advertising and promotions and information on items available for purchase from the franchisor or suppliers
• Assist the franchisee in procuring supplies, services and equipment necessary for the operation of the business and may assist the franchisee to procure discounts or any other form of advantageous purchasing or other benefits in respect of supplies
• Working Capital: This should cover personal expenses up to six months which is dependent on the costs, area and the month. Working Capital is required to cover the cost of running the business on a day to day basis, and includes costs such as rental, salaries & wages, telephone etc; R 100 000.00

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How we train and support you

The franchisor shall:

• Render a Professional back-up service to the franchisees
• Be engaged in the research and development of new and market related course material and assessments and the registering thereof with the appropriate accreditation bodies
• Develop, implement and maintain administrative, financial and operational systems in order to streamline the managing processes within the franchise business, both at Head Office and franchise level
• Take responsibility for the standard and integrity of the nation-wide operation of INNOVATUS FET COLLEGE
• Provide training and assistance to the new Franchisee. Before a franchise may register students the initial training at Head Office must be attended
• Evaluate the college, administration systems and lecturers on a frequent basis to ensure that Franchisees keep their competitive edge and uphold the quality management systems, which are in place
• Plan a regional and local advertising campaign
• Training: Annual Conference for franchisees with Innovatus FET College franchisor
• Practical hands-on training during the year for staff and management of each franchise
• Fully establishment of the Franchise site
• Provide assist and advice on the location of premises
• Fully functional and operational Head Office

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What we look for in an Innovatus FET College franchisee

• A people’s person: She/he must have excellent selling skills; experience in direct selling is preferable
• Communication skills: A good franchisee is one who enjoys spending time with people. Remember, if one treats their staff and customers with trust and respect, then they will remain loyal to them. Hence, it is must for a franchisee to treat their customers well which will ultimately add to the popularity of a business
• Hard working: Franchisee must not be afraid of hard work and happy to put in the hours required to get the job done
• Positive attitude: Franchisee must have a good attitude towards work and show that they can work alongside their employees, whether it is in the office or out in the field. They must even be willing to look for ways to make the brand more popular and suggest frequent changes for the betterment of the business. The franchisee must be self-motivated to take action and follow the successes of others.
• Be a good leader and also be a good follower: Customers preferring franchised business are generally there because they know what to expect. A franchise system then rests upon the consistency of the products or services it offers.
• Committed and motivated: Innovatus FET College is looking for people who do not just follow the system but can get going when the going gets tough.
• Financially and ethically sound person: You will be expected to treat customers, suppliers and Innovatus FET College Support Office with integrity.

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What is the ideal location?

The company is now planning further expansion into Johannesburg; Polokwane; Empangeni and Pietermaritzburg for the 2012 / 2013 academic years. The company is inviting highly motivated and successful entrepreneurs to now take up an Innovatus FET College franchise opportunity in these areas or an area of their choice, subject to company approval and endorsement.

To find out more about Innovatus FET College then please fill in the “request information form”.

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