Welcome to this edition of the whichfranchise newsletter for franchisees. With interest rates remaining at an acceptable level, the Rand exchange rate remaining firm and the 2007/8 budget decidedly positive, there has never been a better time than now to start your own business. In the January issue of this newsletter, we gave you guidelines for becoming a franchisee – and loving it. Today, we introduce you to Pieter Botha, someone who, just like you, pondered his future and took the big step.
We also tell you about a series on franchising that appeared in City Vision and has been highly successful. It takes you through the entire process from self-evaluation to operating your own franchise in a step-by-step fashion. We also provide advance information on IFE 2007 , South Africa 's – and the African continent's – major dedicated franchise opportunities expo.
We bring you news about developments in the franchise sector and, as usual, we conclude with a selection of questions received by our panel of experts, complete with the answers given.
Starting your own business is a tough decision to make at the best of times. Of course, it happens that the decision is made for you – downsizing, retrenchments and other man-made disasters often create the need for individuals to re-establish themselves. But although at first glance it may not seem this way, making the decision to quit corporate life can be especially tough when you are safely ensconced in a cushy job with all the perks that go with it. You enjoy the security, and the perks, yet you know deep down that something is missing.
Pieter Botha was faced with this dilemma, and the way he handled it can serve as a text-book case of “making the right decision in the right way. Read more…
With the help of a sponsorship offered by Absa Franchising, we were able to create a series of short articles that explain franchising in sequential steps that are easy to understand and implement. It takes the reader from self-evaluation right through to the Grand Opening of his or her own franchise. Every facet, including financing, is addressed.
The entire series, consisting of eight articles, is currently being published in City Vision, a community newspaper that is distributed free of charge throughout the Johannesburg CBD, Berea , Braamfontein, Hillbrow and Yeoville. After the entire series has been printed, it will be placed onto our website – www.whichfranchise.co.za - so watch this space.
IFE 2007, the largest franchise exhibition presented anywhere in Africa , will be held from 3-5 May 2007 at the Sandton Convention Centre. The event is presented under the auspices of FASA and organised by Kagiso Exhibitions and Events.
The organisers tell us that already, the number of stands booked has exceeded last year's total. Concepts as diverse as food, services and retail will be represented.
The exhibition is liked to a series of workshops and seminars dealing with the various aspects of franchising. In addition, a number of service providers to the sector, including banks and lawyers, will have stands at the show.
The April edition of this newsletter will bring you a more in-depth preview of the event. In the meantime, block these dates off on your calendar; if you are considering a move into franchising then this is one event you will not want to miss. Needless to say, whichfranchise will be there and we look forward to meeting you in person.
Under this heading, we bring you an eclectic mix of news and views that show the vibrancy of the franchise sector.
McDonald's continue to dominate news on franchising, and fortunately for all the right reasons. For starters, McDonald's reported a doubling of profits for the quarter ending 31 December 2006, with the bulk of increased sales coming from their European operations. Read more…
If you ever wondered what types of businesses can be franchised, consider this: Pet Butler describes itself as the No 1 in the No 2 business and is the leading pet waste clean-up service in the US. They have been in business for two decades and operate through a nation-wide network of franchisees. They offer clean-up services to home-owners, multi-family communities and the administrators of municipal parks. Read more…
Q: Does the loan advanced by a bank usually include the amount of money needed to operate the business until it is self-supporting, or is loan finance limited to the acquisition of equipment and shop fittings?
A: What you are talking about is “working capital”. The banker will not look at this in isolation, but considers it as part of the overall financial package. Working capital is usually funded through an overdraft facility, because your needs will vary throughout the month.
The website www.whichfranchise.co.za contains information on how franchising works; it also contains South Africa 's foremost listing of bona fide franchise opportunities. To make it easy for you to find what you are looking for, we have set up the site in such a way that you can search for opportunities by business sector and investment level.
Should you have specific questions that relate to the concept of franchising rather than a specific franchise opportunity, send an email to experts@whichfranchise.co.za . Our panel of experts will provide an answer, usually within 24 hours. This is a free service that places you under no obligation whatsoever.
Greggs Mobile Car Wash - Mobile car wash franchise
Placecol - Retailer of cosmetics and beauty products
For a full list of opportunities click here
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